Need Help Recognising Honest Real Estate Developer

[Medic Mike]

I found some property I am thinking about buying. What I am always concerned about is if the person selling the property, actually has the right to do so.

 

Can someone assist me in regards to what documents I should be asking to see in regards to the property in question.

 

Cheers,

[Jollygoodfellow]

When I seen the topic title I thought; damn got to move another topic to the joke section.   :)

[Thomas]

Yes, are there any honest real estate developers?  :)

If not being real crocks e g not finnishing what they have got pay for allready, developers normaly add a big profit compared to buying land and build yourself.

I found some property I am thinking about buying. What I am always concerned about is if the person selling the property, actually has the right to do so.

 

Can someone assist me in regards to what documents I should be asking to see in regards to the property in question.

 

Cheers,

What type are you talking about?

/Condo. I don't know, because I don't want to settle in such anyway. Have you checked if Geoff Thomas have anything you are interested in?   I believe he check things proper.

I suppouse you can see who is developer, and I suppouse they can know who are allowed to sell  :)

 

As far as I remember:

/Titled. You want to see the title, and check if it's the seller's name on it. Check if it's secutity for a loan. (Written om the title.)

You can make an extra check at the baranggay office. 

They know who is registred as tax payer - Check if it's same.

NOTE. Check if there are any unpaid property tax, If it isn't adjusted at the transfer, THEN THE NEW OWNER WILL BE RESPONCIBLE FOR OLD TAX DEBTS TOO.

A transfer document is needed to be done, so you can get the title moved to corect name. (Can't be yours, because you can't own whole land.)

/Freehold. More complicated. Belongs to the government, but user right can be sold. Check who is tax payer. If he can show possesion since 1945, then HE/SHE can get it titled for you. If he can show possesion at least 10 years (normaly by tax documents), then HE/SHE still can APPLY to get title, but then it isn't sure it will be approved.   If it isn't the possessor since 1945, who are selling, then it's some RISKY, because it isn't legaly checked if there are more people with inheritance rights. (That's checked in a titling process.) Although it's some unsafe, this is the most COMMON transfer process between Filipins.

[Medic Mike]

Yes, are there any honest real estate developers?  :)

If not being real crocks e g not finnishing what they have got pay for allready, developers normaly add a big profit compared to buying land and build yourself.

I found some property I am thinking about buying. What I am always concerned about is if the person selling the property, actually has the right to do so.

 

Can someone assist me in regards to what documents I should be asking to see in regards to the property in question.

 

Cheers,

What type are you talking about?

/Condo. I don't know, because I don't want to settle in such anyway. Have you checked if Geoff Thomas have anything you are interested in?   I believe he check things proper.

I suppouse you can see who is developer, and I suppouse they can know who are allowed to sell  :)

 

As far as I remember:

/Titled. You want to see the title, and check if it's the seller's name on it. Check if it's secutity for a loan. (Written om the title.)

You can make an extra check at the baranggay office. 

They know who is registred as tax payer - Check if it's same.

NOTE. Check if there are any unpaid property tax, If it isn't adjusted at the transfer, THEN THE NEW OWNER WILL BE RESPONCIBLE FOR OLD TAX DEBTS TOO.

A transfer document is needed to be done, so you can get the title moved to corect name. (Can't be yours, because you can't own whole land.)

/Freehold. More complicated. Belongs to the government, but user right can be sold. Check who is tax payer. If he can show possesion since 1945, then HE/SHE can get it titled for you. If he can show possesion at least 10 years (normaly by tax documents), then HE/SHE still can APPLY to get title, but then it isn't sure it will be approved.   If it isn't the possessor since 1945, who are selling, then it's some RISKY, because it isn't legaly checked if there are more people with inheritance rights. (That's checked in a titling process.) Although it's some unsafe, this is the most COMMON transfer process between Filipins.

cheers. It is a beach front property in Palawan I am looking at.

[Thomas]

cheers. It is a beach front property in Palawan I am looking at.

OK. But which owner type are them you have found interesting?

 

Above I forgot to tell there are at least two more type:

/House owner has a long time LEASE of the land the house stands on.   (I will probably solve it like this, separate the ownership, me as owner to the house, even if it isn't separated when I buy the property.)

/Squatters   :)

NOTE! Concerning beach properties, 30 (?) meters above high tide level belongs to the GOVERNMENT and no one is allowed to develop that part (normaly.)

Of course there are approved piers and such in some places. Plus in some regions at least at Mindanao, there are some "established" squatter areas, where the local government have "gave up"  :)  and say it's allowed to squatter settle there.   There are even long time squatter area, where the local government have/think of GIVE AWAY the land to the squatters, so they get the land their squatter house are built on. Some houses at such long time squatter areas are nice and biger than many houses in guarded subdivisions!!!

So concerning squatter houses owners can get the land as gift - or be thrown out without compensation if the local government want to do so...

[efigy]

honesty!!!!this is the philippines,,,,this topic needs to go to the joke section

[MikeB]

You need a lawyer, local to Palawan. I would go there and look.

[Dave Hounddriver]

You need a lawyer, local to Palawan

 

My ex's uncle was the most respected lawyer for many years in the province we were living in until he was suspended for 1 year for a dishonest (he said it was a mistake) real estate transaction.  As some said, this is the Philippines honesty can be bought.

 

Practical advice is do your own due diligence.  Research, research, research and then follow up with a lawyer.

[Mike J]

Check the yahoo group philippine_real_estate.  Not much happening there now, but lots of information in their archives about what documents to look for.  I think the owner of the group was a real estate agent prior to moving to the PH.  He was going to publish a book on buying real estate here, not sure if he finished it.

[Old55]

I don't think there is a sure way to know unless you know the sellers family. Many of the grudges and killings have to do with property inheritance problems.

As you know Mike when large amounts of money are involved things can go sideways real quick there.