Real Estate Investment

[futboler_dati]

^ baka nga nagCI pa sila sayo sis. they do that to check kung kaya mo magbayad ng monthly equity. once approved ka na papapirmahin ka na nila ng Contract to Sell. that will formalize the sale. tapos months before matapos ang equity mo they will get bank approval na para sa loan. once approved ka na sa bank and matapos mo na ang equity, pirmahan naman ng deed of sale.

[jagjeans]

I am also selling my condo units.  Does anyone here can recommend a real estate agent/broker.  Thank you.

[Tea97]

^Will send you a PM. I'm not a broker, but I do know people who are open to investing in properties. I may be able to help.

[Tea97]

Btw, just in case meron interested - my mom is selling her memorial lots in Sto. Rosario Park in Antipolo. 2 adjacent plots with 8 lots each - ie that is good to cover at least 16 fresh bodies (2x8), max of 32 fresh bodies dahil sa double interment. It's selling for P1.1m each plot if direct from developer, but we are selling for P900k each lot. PM me for more info.

The memorial lots are good investments kasi they double in value and no CGT is payable when you want to resell.  May transfer fee lang sa developer - but that's usual practice na.

[chinablue]

hi mga sis. pahingi naman ng advice nyo pls. may naikwento kase yung brother in law ni husband na nagbebenta ng vacant lot around 560 sq. m sa amin sa province. Taga Nueva Ecija pala ako. Residential yung lot and nasa tabi siya ng street. Bale 1.1 million yung price ng lot. Medyo naghehesitate ako kase di ako sure if good investment ba yun. Idagdag pa na nasa abroad ako ngayon at sa December pa ako uuwi. Pumayag naman yung lot owner na kahit half muna yung babayaran and then yung the rest is sa pag uwi na namin. Pero siyempre matatransfer lang ang land title once fully paid na ang property. Ang suggestion ni hubby ko is sa kapatid na lang daw ni brother in law niya namin ipapadala ang money tapos sa sister niya muna ipapangalan yung sa kasunduan pag inayos sa Pinas tapos malilipat naman daw sa name ko once fully paid na. I'm really hesitant mga sis kase wala talaga ako alam pagdating sa mga ganyan. Hindi ba ito risky on my part? Itutuloy ko pa ba? Sabi din kase ni hubby tumataas ang value ng lupa kaya magandang investment din kesa nasa bangko lang. Thanks in advance mga sis.

[i_miss_sleep]

If you're sure about the lot then go for it. Mura na yung 1.1M. But I suggest  not naming the lot to any other person other than you and your husband. May bayad ang transfer ng title. 50K yata and ang daming proseso. Baka pwede mong mapakiusapan si owner to hold the lot for you until you get home. When you return, open a bank account where you can remit money into. Yes, tama si hubby na it's better to invest your money instead of letting it sit in the bank. Pero kung di niyo naman ibebenta agad yung lot for a quick profit, ok lang na mag-wait and i-stay put niyo lang ang money sa bank.

[amethyst028]

@chinablue check the property first and the documents kung malinis. If ok na pwede ka mag bigay ng earnest money sa owner, depende sa usapan niyo yung amount. Ask him/her to hold the property until you can come back and personally settle the balance tapos transfer sa name mo but since you are married and if no prenup then conjugal siya.

Pag nag transfer ng title may tax yan 6% cgt usually sagot ni seller and 1.5% transfer tax sagot ni buyer. So kung ipangalan sa iba then i-transfer sayo later on doble doble ang tax na babayaran. Not to mention sa registry of deeds iniipit nila ang pag release ng new title minsan. Kailangan may lagay pa kung nagmamadali ka.

[chinablue]

i decided not to push through with it mga sis.. sabi nga ng friend ko, when in doubt, don't. anyway salamat sa mga advises. i really appreciate it.

[Tea97]

anyone here tried to assume balance from PS bank? how do I check if condo is indeed under a loan from PSBank? sabi sa akin kasi wala pang CCT, which is dubious at first kasi ang alam ko banks won't release money without a CCT. But then since megaworld project and PSBank accredited ang megaworld, in-aallow ang loan even without a CCT released yet from the developer. Is that indeed the case? TIA sa mga makakasagot. 

[amethyst028]

^ano daw reason ni seller bakit wala pang cct?

i bought a condo but our term is not assume balance. i pay the owner on a rent to own basis while the unit is still mortgaged sa bank under her name.

i requested for cct, proof na updated ang payment niya sa bank and clearance from the admin na wala siyang outstanding assoc dues, latest receipt for real property tax

ask the seller documents from the bank original copy, may mortgage contract siya na pinirmahan for sure. regarding no cct at nakapag loan that never happens kasi first requirement ng bank is to transfer the title to the new owner's name with annotation at the back/last page that the property is under mortgage. hindi nila release ang payment sa developer until hindi pa na transfer sa new owner ang title.

to be sure try calling psbank and inqurie about it.

[Tea97]

Yeah - part ng due diligence ko magcheck sa bangko. Pero for that particular project apparently may issue sa pag release ng CCT. I'm also doing a comparative analysis with other sellers in the same condo project.

Just curious, yun assume balance na ginawa mo - is that covered by a Contract To Sell? Do you know the seller personally? Bakit di mo na lang ilipat yun mortgage mismo sa pangalan mo, kasi ang bangko irerelease nila yun CCT sa registered mortgage holder. My plan is to have the mortgage transferred to mine, or magloan ako sa ibang bank to bring the former owner's bank out of the picture.
 

[amethyst028]

Just curious, yun assume balance na ginawa mo - is that covered by a Contract To Sell? Do you know the seller personally? Bakit di mo na lang ilipat yun mortgage mismo sa pangalan mo, kasi ang bangko irerelease nila yun CCT sa registered mortgage holder. My plan is to have the mortgage transferred to mine, or magloan ako sa ibang bank to bring the former owner's bank out of the picture.

ang contract namin is lease with option to buy. i don't know her personally but she is ok naman. the reason i opted  for that is it's cheaper plus she gave me a free parking. sa bank loan madami pang requirement then may mga fees ka pa na babayaran then CI pa etc. i'm a licensed broker so i know the ins and outs kaya siguro malakas rin loob ko.

i did my due diligence and asked for the necessary documents and so far nabigay niya lahat ng kailangan ko. mabilis din siya kausap pag may kailangan ako nag re-reply naman agad. right now i'm like her tenant.

i'm self employed kasi and mas madaming requirement ang bank from people like me. i have other sources of income but i don't declare them all kaya when i purchase a property or a vehicle either cash or ganyan, direct to the owner na lang less paper works and i get it for almost 0% interest.

[Tea97]

ah I see now why. Pero out of curiosity, sino nagssafe-keep ng title? Also pano yun CGT - walang bayad muna kasi di pa naman completed ang sale, so sa dulo na lang sya kapag mag ttransfer na ng title? What happens sa dulo ng term, say 10 years from now, kapag magbabayad ng CGT e mas mataas ang zonal value ng property (assume lang) vs selling price, si seller pa rin mag babayad ng extra?

Sino rin pala magbabayad ng repairs, fire insurance and assoc dues kung sakali meron? Pasensya na dami kong tanong.

[crzysxycl]

Hi sisses, post ko lang din dito concern ko ha. Baka sakali may makatulong sa akin. Salamat.

Binenta ko ang condo ko last year. Nag conditional deed if sale kami muna while waiting for the title and tax declaration. Ang problem ko is the buyer kasi wants to name the DOAS to his wife now. CDOS naman is in his father's name. I was told by my uncle na pwede ako mapenalize pag pumirma ko ng DOAS kasi lalabas na double selling ako. I am waiting for my uncle to get me a lawyer palang so di ako sure anong pwdeng gawin para makaproceed kami ni buyer na pareho kaming walang maging problema after ng sale. Nakakapraning na kasi mag 1 year na transaction namin next month, bwiset pa yung napagbentahan ko. Buyer told me wala raw maging issue kasi magiging null and void na ang CDOS once may DOAS na pero di ako naniniwala kasi dapat yun CDOS pa rin ang basis. Sa tagal namin nagcocommunicate ni buyer, alam ko mapanlamang sya kaya now I am very careful sa mga next steps ko. Baka lang sakali may way pa na maipangalan sa wife nya ang DOAS ng walang bad impact sa akin.

Salamat.

[MrChocNut]

One option is for the father to assign his rights over the CDOS to the daughter-in-law, via Deed of Assignment. Then the wife can be the 'Buyer' in the DOAS. Now, may paper trail to show her 'right' to be the buyer in the DOAS.

[crzysxycl]

^Thank you so much!

Update lang sa transaction namin. I-post ko pa rin dito para makatulong sa ibang nagbabalak mag benta ng properties nila. Kung hindi maalam sa mga ganitong transactions, better to have a lawyer or real estate broker kasi maraming manlolokong tao sa mundo. Yun ang natutunan ko dito.

Nakakuha kami ng broker and ang advise nya is to have a revocation of conditional deed of sale na pipirmahan lang nung father and ipapa notarize nila. After this saka na pwede mag proceed sa DOAS na under the wife's name naman. Ito kasing buyer, sya ang bibili pero hindi sa kanya ipapangalan. Nangangamoy tax evader lang. Sabi rin ng broker after seeing the conditional deed of sale, hindi lawyer ang gumawa non. Broker was told 500 ang binayad sa pagawa ng CDOS and nagulat sya kasi walang lawyer daw ang sisingil ng ganon kamura. (>.<) Hindi lang yon, buyer prepared a manager's check and it spelled my name as SURNAME<space>FIRST NAME<space>MIDDLE NAME. Buti napansin ito ni broker, kasi hindi ko napansin at all. Pinakita lang sa akin ni buyer nung inuuto nya akong pumirma sa DOAS nyang mali mali. So I went to BPI and was told by the manager na magkakaproblema ako dun sa check na yon dahil lumalabas na ang first name ko ay ang last name ko, ipapa-approve pa rin daw yon, aabot pa sa president since above 100k ang amount. Hay, nakakaloka. Una, gusto nya tumakas sa pagbabayad ng CGT, DST, transfer tax, etc. Pangalawa, gusto nya mag double selling ako at pangatlo, sa check na pinagawa nya, wala syang balak ibigay ang balanse talaga nya. Ngayon na gawa na ang revocation of CDOS as DOAS, ipapa check naman daw ni buyer sa lawyer bago sila magproceed. Sinabihan pa ang broker ko na mahigpit daw sya nung sinita nya about the check. Daming reklamo, di naman marunong tapos yung lawyer kuno nya di man sya sinabihan ng mga infong sinabi ng broker ko. So now, malinaw na lahat ng dapat nyang gawin pero it seems may masama talagang intention ang taong ito. Gusto ko na nga ipasilip ang record nya sa BIR, para kung sakali lang, pero sabi ng kakilala ko mahirap hanapin lalo kung tinatago.

[momlory]

Hi i want to lease my property in taguig fully furnished. is there anyone who could help me? thanks!

[vanity fair]

^ Post mo lang sa mga reals estate groups on FB, madaming brokers that will contact you.  Also, advise the building management that you want your unit to be leased out para they can give the details to brokers who are looking.

[Tea97]

crzysycl -- nakanotarize ba yun CDOS? If it is, magulo nga kapag nagpalit ng buyer. Also yun CGT, kapag lumampas na ng 25% of TCP ang binayad niya, payable na agad ang CGT. So please check with your broker about it. Otherwise di nyo pwede ilabas yun CDOS, yun DOAS lang. In case you still need one, I will PM you the lawyer I use for my transactions, she's based in BGC and reasonable naman sya.
Also if buyer will pay for the CGT, etc just make sure they pay it before the due dates (for CGT within 30days of DOAS signing, yun DST and TT I think within the first 5 days of the month following the signing of DOAS - so kung Oct kayo nag sign, dapat by Nov 5 bayaran na yun DST and TT.) Ang importante lang is that you make sure a copy of the CAR is given to you as proof that CGT was paid on your behalf. Kasi cargo ng seller ang CGT under the law - regardless anong usapan nyo ng buyer, unless nilagay mo somewhere sa contract na harmless and free ka sa payment ng CGT.

[atmsolomon]

Hello guys, sorry for the question. May binili kaming townhouse sa Camella. We were informed upon turnover January 2019 na hindi pa namin kailangan magbayad ng amilyar. Then nung nagbayad kami ngayong January 2020, we found out na hindi pala binayaran ni Camella yung amilyar ng 2019. We incurred penalties tapos hindi pa namin nakuha yung 10% discount. Binayaran ko na nang buo. Pwede kaya naming masingil si Camella sa sobrang (unfair) na binayaran ko sa munisipyo?