House/Lot Buying Guide

[miksha]

sabihin natin na you will buy in cash, how long does it usually take to buy a lot ? let's say free from all incumbrances/issues the lot. how long kaya - checking nang mga certificates, tripping, matransfer sa name mo ang title , etc... kumabaga masabi mo na finished na lahat at iyo na ang lupa?

[younis]

^from the execution of Deed of Sale, meaning after notarization, dito mag-start ang pagpapapa-transfer ng title, it depends on your municipality talaga sis. take note na may duration lang ang pagbabayad ng capital gains, only up to 45days if I am not mistaken, pag lumampas na dyan may penalty na.

1. payment of capital gains and documentary stamps at BIR, from here, it will take around 1 to 1.5weeks to wait for the CAR (this is the Certificate needed for you to proceed to step #2)

2. having the CAR from BIR, you will submit it and pay the transfer fee, service fee, tax clearance, etc in the City Treasurer's office in your city hall - another 1.5weeks to 3weeks wait for the issuance of the Title naman (depende kung hindi naka-leave yung pipirma hehe)

3. then pag na-issue na yung Title, you will have to pay for the registration fee sa Registry of Deeds sa city hall nyo. since CASH ang tinatanong mo it ends here na, nasa name mo na yung title,

otherwise

4. last step would be the annotation, another 1 to 2weeks ito as far as I remember

from experience in our area (PQUE), it took me around 1 to 1.5months from steps 1 to 3.

[miksha]

wow tagal din pala.. i thought pwede in 2weeks...

[gypske]

Magkano ang babayaran sa BIR to get the CAR? Can you give me an estimate please.

For CASH transaction magkano lahat magagastos to transfer the title, assuming clean title?

[younis]

CAR is issued to you out from paying the capital gains, doc stamps to BIR. computation of both are based on the Selling Price na nakalagay sa Deed of Absolute Sale or the market value whichever is higher.

Capital gains is 6% of the TSP/Market Value
Doc Stamps naman I forgot how much, pero alam ko for every P1000 ito eh, may specific rate din.

check the BIR website

http://www.bir.gov.ph/taxinfo/tax_capgin.htm

[gypske]

Thanks sis younis.

My additional question is:
Who will determine the market value of the property?

[younis]

^sis, sa BIR ata meron eh.. may mga allocated zonal values per area sila eh. pero these are for tax purposes lang alam ko, that doesn't necessarily mean yun ang market value ng property mo.

[crookshanks]

Question po mga sis, we're planning to buy a lot and loan it sa bank and we're not sure of the norms or processes of purchasing a lot. When asking for a CTC sa Land Registry, may letter or something ba na manggagaling from the seller so we can get a copy or may info lang sa form ? We've encountered a seller who requires reservation fee of 10% of the total value of the lot, anong papers or docs ang dapat namin hingin from the seller? Is a notarized agreement enough?

[krisle703]

mga sis help po. First time namin bibili ng property ni hubby kaya dummies kami pagdating dito.

We are renting a townhouse in Laguna and the landlady decided to sell this to us. We are willing to buy in cash naman pero kami ang pinapagawa at pinapaasikaso ni landlady ng trasnfer ultimo deed of sale.. San po ba pwede pagawa? Kelangan po ba lawyer? How much po if ever? Ive read here every step I need from Deed of sale pero I dont know where to get this contract to start with. Sabi landlady bigyan nya kami ng xerox ng title once gagawa na kami deed of sale. Ano po ba dapat inclusion sa deed of sale? and if cash namin pay pwede na ba absolute deed of sale agad ipagawa? Thanks in advace

[lanee_beu]

i will backread later. i need info from this thread

[Shadow Angel]

Me too need ko rin mga infos dito..

[sleepy_grfld]

sis krisle703, naayos mo na pagbili mo ng property. sa konting nalalaman ko, dapat kumuha ka nga muna ng photocopy ng TCT from the landowner. check it with the Register of Deeds para lang sure ka na walang problema sa property. Pag ok, pwede ka na gumawa ng Deed of Absolute Sale (DOAS) kung payag naman kayo pareho since cash and in full amount mo naman babayaran agad. Hindi mo naman kailangan ng lawyer for this. Kung may mahihingan ka ng sample, gayahin mo na lang. Ang dapat lang lamanin ng DOAS is name nyo ng seller, description ng property as indicated in the title, agreed selling price and mode of payment. Have it notarized afterwards. Then, bayad na ng tax, wait sa CAR, bigay ang titulo sa RD para ma-transfer na ang title.

[m_lim]

dapat ba mag written agreement ang seller and buyer kung sino magbabayad ng Capital Gains?

usually sa Seller yan diba? ang problema, dineny ng seller na dapat kanya ang capital gains.

[sleepy_grfld]

better kung ilalagay na sa written agreement or contract to sell kung sino ang magbabayad ng taxes and/or iba pang bayarin. tama, usually, seller ang may sagot ng capital gains tax. pero minsan, nasa usapan ng seller at buyer kung sino sasagot.

[younis]

make 2 DOAs, yung 1 ang nakalagay yung totoong presyo ng bentahan nyo between the seller, yung isang DOAs naman has the lower price, at ito ang ipapanotarize nyo, lahat ng babayaran sa BIR at Registry of Deeds, naka-base lahat ng computation sa selling price na nasa notarized DOA.

ex. ang totoong presyo ng seller was P2M... parehas beneficial sa seller at buyer kung gagawa kayo ng isa pang DOAs that has the lower amount like, P1.6M kunwari... the price here should not be lower than the zonal value, dahil kahit P1 lang ang ilagay nyo dyan ang susundin ng BIR pa rin yung whichever is higher (between zonal value and selling price).

andito lahat ng computation at procedure how to transfer the title:

How To Transfer Land Title

to add: Nasa CONTRACT TO SELL lahat ang terms of payment ng buyer at seller, who's going to pay what.

[m_lim]

hay, lesson learned talaga. kailangan lahat malinaw. may written agreement.

ayaw na kasi sagutin ng seller ang capital gains

thanks mga sis!

[pinkpunk]

i bought my townhouse net of taxes... i paid everything from transfer taxes, capital gains and doc stamps.

[mommy_pink]

Hi Guys,

You might want to check this link baka makatulong..
http://www.inforgrab.com/your-guide-in-buying-house-and-lot-in-the-philippine/

[pret_ty68]

Paano ba ma ve verify ang authenticity nang SPA na ni notarize sa philippine embassy sa abroad?  Ang alam ko meron syang seal and red ribbon pero pwede naman kasing gayahin yong seal and red ribbon. Ano pa kaya ang ibang way para ma verify ang authenticity?

[sleepy_grfld]

^ isang pwede mo sigurong gawin is ask the owner himself/herself. pwede kayong mag-usap through skype para makita mo rin itsura niya. ma-compare mo yung ID sa itsura niya. siguro naman, s/he would tell the truth kung nag-issue talaga siya ng SPA na dinala sa embassy.