Just A Little Place To Hang My Hat.

[Fred & Mimi]

Dave's suggestion of making a one off payment for the lease of a piece of land in my own name, opens up a whole new kettle of fish. It means I don't have to restrict myself to a couple of thousand dollars. (Thomas said something similar but I missed the implication )

 

The Philippines being what it is, even leasing has its problems. The big problem is the sincerity of the land owner eg, do they really have the right to lease the land etc. You really have to remove any form of trust out of the equation, especially if your acting on your own and not dealing with family members from your partner which isn't applicable to you yet.

 

How trustworthy can Filipinos be? A land seller acting for another showed Mimi and I a nice lot of land neat Taloot in Cebu saying it was part of a lot of 2 parcels being sold as one. A close look at the title deed showed that it wasn't part of the land for sale though it was owned by the same person. I know a foreigner married to a local lady who is in court now fighting to prove they are actually the owners of a buliding that was purchased with the help of lawyers! Nothing is what it seems in this country.

 

I'm sure there are many good story cases as well, not everyone in RP is a crook but the moral of the story is "Be Aware"

[stevewool]

rent i think for as long as you feel its the place to be, then buy, if its not the place you can just pick up sticks and onwards to the next place, just my thought

[Thomas]

Dave's suggestion of making a one off payment for the lease of a piece of land in my own name, opens up a whole new kettle of fish. It means I don't have to restrict myself to a couple of thousand dollars. (Thomas said something similar but I missed the implication )

Better pay them bit by bit during the whole lease period to KEEP the owner happy, instead of make him extra happy a short while and then he regret the lease for 50 years  :mocking:

(E g in an add one tried to sell a farmland with a long time lease with a crap lease fee per year, which he found out later, I guess after had got an incentive to sign the lease deal. Because of the lease, I suppouse he has no chance to sell his land for what such land normaly are worth.)

 

Was it this type of solution you found unclear? 

To get more options concerning land you can "lease". If you want to lease a land, which the owner want to sell, then you can solve it by:

pay the owner the agreed price, but as a loan with the land as security

make a long time lease contract

find a good ballance between the "lease fee" and the "loan interest" =give the Filipin a litle per month.

(If you want, you can include a buying option with a predecided price for you for the land.)

Register all deals proper.

[Dave Hounddriver]

Dave's suggestion of making a one off payment for the lease of a piece of land in my own name, opens up a whole new kettle of fish.

 

As has been noted, and in all things Philippines, be careful with that.  I would do it in situations where the amount is not going to break me (like a 100K peso lot) and with people that I have some trust in (as in people who I know have something to lose if they screw me over).

 

I think it is 'more legal' than some of the finagling that goes on to own land but that is my opinion only.  I know people who have got screwed over on leases as well as purchases.  Your mileage will vary.

[Papa Carl]

I have been fortunate, in having an Attorney who is also a close friend and now is my daughters God Father. He has never let me down, and in fact has gone out of his way to help, even if it has cost him and he has not been compensated, (as yet).

 

I think this is one of the most important things about living and working here, if you can find an Attorney you can trust, it makes a huge, huge huge difference.

 

 

Papa Carl

[BrettGC]

Where will I find Papa Carl's and Tuka Ram's videos ?

 

Right here mate: http://www.philippines-expats.com/topic/16826-my-actual-spending-for-july-2013/page-2

 

Papa Carl's is on page 3 of the same thread, best played in Quicktime

Edited October 29, 2013 by BrettGC

[Classic Dry]

OH, PHACK IT, I'LL RENT !

Edited October 29, 2013 by Classic Dry

[Classic Dry]

even leasing has its problems.

if you can find an Attorney you can trust,

screwed over on leases

he regret the lease for 50 years

 

I guess I meant to say ----

 

So, I can't buy a cheap, suitable property in a suitable location.

And leasing is fraught with danger.

 

Well, good heavens, I suppose I'd better rent then.

 

[Dave Hounddriver]

OH, PHACK IT, I'LL RENT !

 

Welcome to the club.  It seems to me that those of us who rent make up half the long term expat population.  Our biggest problems are:  Having to move when we get tired of the neighborhood or the landlord sells the house and Losing our security deposit when a landlord screws us over.  in the other club are the property buyers.  The negatives of property buying are listed in this and countless other forums but when it works the property buyers are generally a happy bunch.

 

I'm saying there is no right or wrong way.

[Classic Dry]

I'm saying there is no right or wrong way.

 

Yeah Dave, I kinda guessed that. I'm going to stay as safe as I can until I know my way around a bit.

All the information gathered since the opening post has been edifying. ( and a lot of fun )