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HOW TO PURCHASE ONLINE: 1) First, you will choose a property you like. 2) After choosing your property, you can reserve it online. The Real Estate Agent who serves you will send you an advice to deposit together with the bank details of the developer. These details should include the following: Exact name of the developer (recipient […]
LIST OF REQUIREMENTS IN SECURING BUILDING PERMITS 2 photocopies of Transfer Certificate of Title (T.C.T) 2 photocopies of Tax Declaration 2 photocopies of Current Tax Receipt 5 sets of plans signed and sealed by a duly licensed Architect or Civil Engineer/Master Electrician in case of Eletrical Plans. Sanitary Plans signed by a duly licensed Sanitary […]
Who has the right on the property in the case of double sale? Rule in case of double sale: The priority of rights in case of double sale of titled property shall be governed by the following rules: 1. The buyer who acquired in good faith and was the first to register the sale shall have a […]
Former Natural-born Philippine Citizen now Naturalized American Citizen Any natural-born Philippine citizen who has lost his Philippine citizenship may still own private land in the Philippines up to a maximum area of 1,000 square meters of urban land or 5,000 square meters in the case of rural land. In case of married couples, the total […]
Rights of unit owner: Absolute ownership of his unit Co-ownership of land and common areas Exclusive easement of the space of his unit Non-exclusive easement to common areas for ingress or egress Right to sell, lease, or mortgage his unit Right to repair, paint, decorate the interior surface of his unit Right to participate and […]
Why can other developers offer no equity no down payment while others cannot when all their properties are financed through one and the same financing institution which is Pag-ibig ? As a matter of standard policy, Pag-ibig requires 20% to 30% equity while the 80 to 70%% of the appraised /fair market value of the […]
REAL ESTATE TAXATION : Assessment Level for Land: Classification Not more than Residential 20% of FMV Commercial/ Industrial/ Mineral 50% of FMV Agricultural 40% of FMV Timber 20% of FMV Scientific/ Cultural/ Hospital […]
If I buy a property by installment, when should I start paying the Realty Tax? REALTY TAX: Real Estate tax and assessment on the lot or unit shall be paid by the owner or developer without recourse to the buyer for as long as the title has not been passed to the buyer. However, if […]
What if the buyer becomes delinquent in his installments, can the seller forfeit everything? The answer is NO. The seller or developer cannot forfeit everything if the buyer has been paying for at least 2 years. A seller or developer may have the buyer sign into a contract of forfeiture of payments in case the […]
Consequences of non-payment of assessment of condo dues or association dues with homeowners association. The management body may constitute a lien on the delinquent condominium unit or housing unit by registering with the Register of Deeds a notice of assessment and delinquency. Such lien may be enforced in the same manner provided by law for […]
