House and Lot / Condo / Property Selling Guide

[mei-mei]

Is there ant more condo unit with 3M or below price? Within metro manila

Yes there are. Studio units with less than 30sqm in size. You can find in Pasig/Mandaluyong/QC area.

[bea31]

Thank you sis, will check yung areas

[i_miss_sleep]

Hi folks, ano ba minimum age to own a property or have a property under one's name? I'm thinking of transferring my property to my child. [textspeak!]-ano ba process for that? Thanks!

[lynzarco]

ask lang po.. kasi meron benebenta samin na lupa 50sqm yung lupa nya, 25sqm lang daw yung gusto nya benta.
ano po ba mga dapat ko gawin bago kami mag kami mag abutan at mag pirmahan. Interesado po ako pero gusto ko rin makasiguro. Ano po bang mga docs ang dapat ko muna makita, gusto ko po ako mismo mag process para makasiguro na malilipat saming mag asawa yung title.  Paano po ba mag process at magkano magagastos ko? Thanks

[crzysxycl]

^^Hi sis. Sa pagkakaalam ko 18, tapos dapat may TIN na. Yung pinsan ko kasi ganun ginawa ng father nya, nagpagawa ng TIN sa BIR para matransfer sa name nya yung condo nila.

[i_miss_sleep]

^ sis, Thanks sa response. Dapat pala 18 pa? matagal pa pala bago ma-transfer sa kanya. Meron ba ways to ensure sa kanya mapunta yung property maski di pa siya 18? O sa last will and testament na yun?

[MrChocNut]

Baka isang option is for you to donate the property to your minor child via deed of donation. You will sign the deed of donation both for yourself (as donor), and as legal guardian of your child (as donee). Taxes for the donation is roughly the same now as selling the property, thanks to the TRAIN Law. May pagkakaiba lang sa requirements and forms when transferring.

For the TIN requirement, you might be able to get a TIN for your child online through BIR's eServices portal (Self-employed). Make sure lang na hinde na siya kukuha ng ibang TIN pagtanda niya.

Best way to ensure na sa anak mo malilipat yung property is either through sale or donation kapag buhay ka pa. If papaabutin mo pa na mamatay ka, and may iba ka pang heirs aside sa anak mo, baka maging source of conflict kung kanino mapupunta yung mga properties mo.

[MrChocNut]

ask lang po.. kasi meron benebenta samin na lupa 50sqm yung lupa nya, 25sqm lang daw yung gusto nya benta.
ano po ba mga dapat ko gawin bago kami mag kami mag abutan at mag pirmahan. Interesado po ako pero gusto ko rin makasiguro. Ano po bang mga docs ang dapat ko muna makita, gusto ko po ako mismo mag process para makasiguro na malilipat saming mag asawa yung title.  Paano po ba mag process at magkano magagastos ko? Thanks

Kailangan ipa-subdivide yung title - meaning yung title na hawak ng seller is ibabalik sa Registry of Deeds and hahatiin sa dalwa, each with 25sqm na area. Para sigurado na magkakaroon kang sariling titulo sa bibilhin mong lupa.

Aabutin din ng ilang buwan ang pag subdivide ng titulo.

[MrChocNut]

Hello ladies, good morning! I am hoping to find enlightenment in this thread kasi naguguluhan ako haha.

Basically, I am selling my 1BR unit in Avida Towers Centera, Mandaluyong.

Medyo naguguluhan lang ako about sa VAT. My broker told me na may VAT pa dapat on top of my selling price. From what I understand, since hindi naman ako broker or real estate agent, only the CGT (Capital Gains Tax) is applicable when I sell the unit. Actually, since the unit is declared as my primary residence in my Income Tax Return (kasi dun kami tumira for a while), I am eligible to file for CGT exemption.

Nahihirapan tuloy ako ibenta yung unit kasi when someone asks for more details, I had to inform the interested buyer na may VAT pa on top of the selling price. However, based sa mga nabasa ko online, parang hindi naman applicable sakin yung VAT when I sell the unit.

Is there anyone here who was able to sell their unit successfully? May VAT ba talagang dapat ipatong sa selling price? Hoping to get answers here and TIA!

Ang VAT nagaapply if yung Developer and magbebenta sayo ng unit, dahil ordinary asset ito ng condo as an entity in the business of selling condo units.

If nalipat na sa name mo yung title sa condo and ikaw na mismo magbebenta, wala nang VAT na ipapatong dahil yung condo magiging capital asset mo na siya. Ang capital asset ay walang VAT if ibebenta, CGT and DST lang.

[MrChocNut]

hello sisses!

my mom, who is based in Metro Manila, is authorized to sell a 166sqm lot in Naga City. the sale of the lot is the bayad-utang of the lot owner to my mom. gusto ko sana tulungan mom ko to sell the lot, pero hindi ko alam paano, saan pa iaadvertise (although I think it was publicly listed somewhere before pero wala pa ring takers), etc.

sana po may makatulong. salamat!

Pwede ilist yung property for sale through online websites - i.e. OLX, Lamudi, My Property, Hoppler, online groups - i.e. Facebook real estate groups, ipalist through real estate brokerage companies, or as simple as putting up tarpaulins/signs sa property mismo or nearby areas na the property is for sale. In these listings, you include property details (location, size, price) and of course, your contact details. If you do this, be prepared to accommodate potential buyers who would want to see the property itself.

If nasa Naga yung property, you can consider getting a local real estate broker or agent who will take care of selling the property, for a commission.

On another note, if bayad utang yung property, it's better na yung authroization sa mom mo includes na she has the authority to receive the proceeds from the sale, and not merely to sell the property. Some buyers would only give payments to the registered owners of the property.

[MrChocNut]

I was thinking kasi hindi ba parang madodoble yun expense na shoulder ng seller sa notarial fee since 2 yun deed of sale? Ganun ba talaga yun case pag installment na within a year?

From a seller's perspective, hinde na kailangan ipanotarize Deed of Conditional Sale. From a Buyer's persepctive, gusto ko ipanotarize as additional security. For the Deed of Absolute Sale, kailangan ipanotarize.

Ang notarial fee depende sa nagnonotaryo. Yung iba, percentage based fee (0.5 to 3% from the selling price) while others, fixed fee (PhP500 to PhP 10,000). Pwede kayo mag-agree ng buyer na hati kayo sa notarial fee.

[amethyst028]

^ sis, Thanks sa response. Dapat pala 18 pa? matagal pa pala bago ma-transfer sa kanya. Meron ba ways to ensure sa kanya mapunta yung property maski di pa siya 18? O sa last will and testament na yun?

Yes sis legal age dapat. Bakit hindi sayo muna nakapangalan then pag mag reach na siya ng 18 transfer mo na. Pwede din ipangalan mo muna sa mother mo or someone you trust. Transfer is expensive and needs documentation kaya hassle din yung palipat lipat ng pangalan.

[iceheaven31]

Pwede ilist yung property for sale through online websites - i.e. OLX, Lamudi, My Property, Hoppler, online groups - i.e. Facebook real estate groups, ipalist through real estate brokerage companies, or as simple as putting up tarpaulins/signs sa property mismo or nearby areas na the property is for sale. In these listings, you include property details (location, size, price) and of course, your contact details. If you do this, be prepared to accommodate potential buyers who would want to see the property itself.

If nasa Naga yung property, you can consider getting a local real estate broker or agent who will take care of selling the property, for a commission.

On another note, if bayad utang yung property, it's better na yung authroization sa mom mo includes na she has the authority to receive the proceeds from the sale, and not merely to sell the property. Some buyers would only give payments to the registered owners of the property.

wow yay may nagreply. great help. salamat!