House/Lot Buying Guide

[cynique]

i'm planning to buy a lot. i'm thinking around 70-80 sq m yung floor area. how many square meters usually ma.ooccupy for the carport(1 car lang)? want to know sana para ma.eestimate ko how big yung lot na dapat kong bilhin tia!

depends on your "car"... mas malaki lalo for SUV....better measure it to make sure 

[agape]

^^sa mga condo bldg usually NASA 12.5 SQM Lang, pero walang walls yun between parking slots. I don't know the dimensions pala.

[artificialstar]

Thanks for the info mga sis auto po yung car, maliit lang.

I'm curious kung ilang percent ang tubo ng lot prices per year. Alam nyo po ba mga sis?

[cookerbel]

Andito pa ba si aquacharly? Anyhoo, if anyone can help, will be greatly appreciated.

My hubby and I are planning to buy a 2-yr old house in lot in better living and pay by cash.

The seller/owner who is a foreigner lives in the house, while his filipina wife is living abroad. The owner has his own broker (nagulat ako dito na kailangan kong bayaran ang broker's fee akala ko seller's own broker, seller pays out commission, buyer has own broker, then the buyer pays accordingly) So the broker provided copies of TCT and Tax Declaration. Accroding to what I've read here, I have to go to City hall to ask for the copy of TCT and Tax Declaration para sure syempre  na hindi fake ang binigay nya. I also asked for a consularized SPA since the wife is abroad. I also know that I have to ask the owner's(hubby's) ID. Actually the owner is the pinay kasi and nakalagay dun sa land title is married to Mr. Blah(the hubby living in the house). What else do I have to do/verify prior to transaction? I also prefer my own broker kaya lang itong owner may sariling broker kasi. pano yun? So split commission nga?

1) Where do I go to verify if the SPA is not fake? Do I have to go somewhere to verify it?
2) Do I ask the ID of the wife too who is living abroad(well oo?)
3) Kung divorced ba sila, may pakialam pa ba yung sa sales or kaso ba yun sa ownership?? Or okay na yun as long as may consularized special power of attorney?

Thanks! Hope you can help me with my questions and additional advices will be greatly appreciated.

[younis]

^sis, as to the broker,  nung may ganyang transaction din kmi before may broker yung seller ako yung buyer, wala akong binayaran sa broker. Sila nung seller ang nag-usap na.

[babing20]

Meron ba ditong nag loan for lot and house construction at the same time sa Pagibig? Yun kasi [textspeak!] option na ina-eye namin ni hubby. In addition, yung surveyor ba dapat from the developer manggagaling? how much usually yung charge nun? TIA!

[pumpkin13]

I have the same question as with sis babing20. My family is planning to get a lot then eventually papatayuan ng bahay pero sa individual owner lang. We don't have any cash for this so we're opting to loan it through Pag-ibig.

Does anyone happen to know if we can have a housing loan for both the lot and house construction?

If not, then if we loan the lot through Pag-ibig and I think of taking a loan from the bank for the housing construction, hahanapan ako ng title ng lupa diba? Eh pano if nakaloan pa sa Pag-ibig yung lupa?

Or is it possible, let's say, my brother will take a loan from Pag-ibig for the lot and then me for the house construction.

Any input please? I really want to start with this the soonest time possible kasi tumatanda na parents ko and this is the best thing that we can do for them. Thanks!

[younis]

^sa iisang institution lang dapat naka-mortgage ang property, meaning kung sa Pag-ibig mo ni-loan ang pambili ng lot, dapat sa kanila mo rin ilo-loan ang pang-construct otherwise mapapamahal ka sa pag-aayos ayos ng mga documents. kapag Pagibig ang ginamit mo sa pagbili ng Lote, then eventually pag pinagawa mo naman ilo-loan mo sa bank naman, you will have to pullout the documents from Pag-ibig at kailangan mo palitan ang annotation sa title from Pag-ibig to that Bank's name, medyo mahal itong annotation na ito ah. annotation is the one stated at the last part of the Title that the property is currently mortgage at Pagibig or the Bank's name.

let me share with you my experience, although hindi vacant lot ang binili namin before, it was a pre-owned h&l. Inassess ng Pag-ibig ang property and the assessment was about P900k lang, it was just a small property, pero ang approved loan ko that time was P2M (this was the highest loanable amout before maging 3M, then ngayon 6M na). ang sabi ko sa Pag-ibig I only need this amount, ayaw ko kako isagad yung amount. Pero yung kausap ko insisted or suggested na pwede kong gamitin yung excess amount for house improvement. Ang sabi nya, i-avail ko na daw otherwise, after 2 years pa daw ako pwede mag-avail nun. But still hindi namin nakita pa ang need to improve the house kaya yung tamang amount lang din ang inavail namin ng husband ko, and that was around P450k lang.

[pumpkin13]

^thanks for the info sis. Pwede ba sa Pagibig ang purchse of lot and house construction? Para hindi na ko magloloan pa sa bank if mapapamahal lang pala kami.

[babing20]

@sis younis, thanks sa info. nagiisip kasi kami ni hubby ng way para makastart na din yung pagpapatayo ng house na hindi magca-cash out. wishful thinking pala yun. Just got back from Pagibig, and they explained na kelangan nga nasa name na namin yung lot before cla makapagpa loan. Yung ina-eye namin na lot, sabi samin, kapag naka 50% na ng total contract price, chaka malilipat sa name namin. Hindi ko akalain na meron pang babayaran na annotation etc pag ganun

So isa pang solution na naisip namin is to loan ng pang downpayment or at least 50% para malipat lang sa name namin (no collateral kasi flexi loan sya sa PSBank) then once na marelease yung sa Pagibig, pay off na namin yun bank. Again, naisip pa lang. Mga 4 months pa bago kami makapag start sa process (me binabayaran pa kasi)

@sispumpkin13, pwede daw as long as nakapangalan na yung lupa sa inyo

[pumpkin13]

^eh sis yung lupa iloloan din sa Pagibig. Paano kaya yung ganun? hindi pwedeng sabay i-loan yun pagbili ng lupa at pagtayo ng bahay?

Tama ba pakaintindi ko sis, na magloloan muna kami ng para sa lot. Pag 50% nun ang nabayaran namin, tsaka pa lang malilipat sa name namin and tsaka pa lang kami makakapagloan for the house construction?

[babing20]

@sispumpkin13, yun din concern namin. bale ang explanation samin, hindi daw sagot ni pagibig yung downpayment, 80% lang daw ng appraised value yung pwede iloan. tapos based dun sa requirements na binigay samin, kelangan talaga nakapangalan na samen. Need ng TCT, yung sa registry of deeds etc.
pwedeng pagsabayin [textspeak!] loan for the lot and house construction provided na nakapangalan sa borrower

Yung pag loan for the lot, naisipan lang namin yun kasi gusto na talaga namin makakuha ng lupa and makapagpatayo ng bahay at the same time (atat lang. hehe!), Yung sa nakita namin kasi (Summer Hills), malilipat lagn daw yung title pag nakabayad na daw ng 50% ng total contract price

[pumpkin13]

^ kasi sis I was thinking, pag niloan ko yun lot sa Pagibig, so ipapambayad ko sa seller yung pera galing sa Pagibig then the lot would be under my name since nabayaran ko na si seller, although may lien pa ang Pagibig until mafully pay ko sila.  same thing with house construction. Akala ko lang naman yun. Hehe!

[younis]

^oh yes sis... actually the annotation is the last fee that you will pay. before this marami ka pang babayaran for the transfer of title (Capital gains, Transfer tax, documentary stamps, registration fee, miscellaneous), at syempre during construction andyan ang mga fees in applying for building permit, etc. marami raming babayaran talaga kaya you have to be ready with some cash for this.

wait sis, sa option na sinabi mo, you said magba-bank muna kayo then pag na-release ang Pag-ibig ipa-payoff nyo ang bank? please note na ang ipapa-loan lang ni Pag-ibig sa iyo na amount is magba-base din sa BOMs (Bill of Materials) na magca-come-up based sa design ng bahay mo. at yung lot mo magiging collateral. so basically walang "extra" for you to pay your bank loan.

teka, developer ba yang Summer Hills? eh bakit hindi mo na lang iderecho sa Pag-ibig mismo ang loan mo?

[pumpkin13]

^ hi sis, hindi sa bank. Sa pagibig na lang sana lahat para consolidated ang utang, hindi kalat kalat. Bale ang gusto ko sana lot purchase + house construction sa Pagibig.

[younis]

^ay sorry sis, my previous reply was intended for sis babing20's post.

[babing20]

@sis younis, yung lot kasi is in house lang yung financing na ino-offer, and the dp is only payable in 6 months, hindi kaya ng budget. tapos, they will only transfer sa pangalan namin yung title is kapag nakabayad na kami ng at least 50% of the total contract price.

kaya lang namin naisip na magbank is because hindi daw magpapahiram si pagibig hanggang wala sa pangalan namin yung title. parang ganito yung naisip pa lang namin, hindi pa namin alam if mag work kasi in 4 months pa kami hihiram:

- hiram ng money sa bank (personal loan) to pay off at least 50% ng total contract price and malipat sa name namin yung title.
- IF ma-approve, punta kami kay pagibig para makapag loan ng para sa lot purchase and construction.
- IF (ulit) ma-approve ni pagibig and marelease yung fund na para sa lot purchase, yun na yung ibabayad sana sa bank.
- If by %completion yung sa house construction, ok pa din, as long as maayos na yung purchase ng title.

i know medyo far fetched yung balak namin and not sure kung possible at all. Pag excited, andaming naiisip eh. hahaha!

[younis]

^ok lang yan at least nacoconsider nyo lahat ng options kung feasible or doable or hindi di ba

ina-analyze ko yang option mo na yan eh, dun sa portion na :

- IF (ulit) ma-approve ni pagibig and marelease yung fund na para sa lot purchase, yun na yung ibabayad sana sa bank.

take note na ang ire-release or and ico-consider ni Pag-ibig na pambayad ng lot is yung remaining 50% mo na lang na hindi pa nababayaran dun sa in-house developer mo. at ang magbabayaran dito is Pag-ibig and developer. then kung lot purchase and house construction naman, ang gagawin kasi ni Pag-ibig dyan yung lot mo ang gagawin nyang collateral sa pagpapa-construct mo ng h&l, and if I am not mistaken the same procedure lang din sila as of the banks, yung by percentage of completion ang release ng money. the 1st portion of the release will be the percentage (maybe 70 to 80%) of the lot worth, at ito ang gagamitin mong pang-construct to meet the next percentage of completion, otherwise hindi sila magre-release.

sa mga nag loan for house construction thru pag-ibig, please confirm if by percentage of completion din ang release nila.

almost the same scenario din kasi ang ginawa namin sa nabili naming lot before. nag-file lang din kami ng cash loan with other banks para mabayaran ng buong buo yung lot. then nung pa-transfer na namin ang title sa name namin, nag-file kami ng house construction loan sa isang bank, yung lot ang naging collateral namin.

[babing20]

ganun ba. kala ko naman yung 80% pa din yung babayaran ni pagibig and samin dadaan yung funds.

anyway, thanks ulit sa info.. ang tagal kasi ng 4 months, hirap kumilos pag wala pa din cash talaga na hawak.

[PrincessC]

this is such an informative thread