any tips on how to buy a lot?

[creation]

guys, i dont know if sakto ni nga section, pls. move nalang if sayop...
i would like to ask unta what are the requirements/conditions or procedures in buying a lot (yuta). planning to buy one but i'm afraid basig fake ang titolo etc... please share thanks

[techguys]

e check ang title bro.

1. ipa xerox ang orig
2. tan-awa kung wala bai annotation sa kilid basin na loan na siya sa banko.
3. e check sa cityhall sa register of deeds
4. e check sad sa province kung wala ba giusad ang title. dapat sa duha nimo e check, basin na amuruso nana ang yuta kay walay bayad bayad ug tax.
5. kung buhi pa duha. husband and wife wala kaayo problem, pero kung patay na ang wife dapat papirmahon gyud nimo mga anak kung ang property inhretance sa wife and vice versa.
6. dapat sa bank mo magbinayranay para safe.

kung sa developer ka palit mura wala kaayo ka problema ana tanan kay sila na bahala ana pero dapat mamili ka nga kanang dugay na sa negosyo.

[creation]

thanks techguys, kay plano mi mu palit, pero murag sa ahente ra mu atubang, murag personal (dili sa developer) ra ni nga lot. nag libog ko kay pwedi kuno tunga ra o pila ra ka sqm. ang paliton... pwedi ba jud na? ngano ang uban dili man mu sugot kanang pikason (part lang sa iyang ge baligya) ang lot? mahal ba ang mag pa divide sa lot? ang kanang mag transfer ug title dako pud na ma gasto? lastly ang deed of sale, kinsa dapat mu trabaho ana? dako pud pangayoon ana ang attorney para e notaryo? sorry daghan ko pangutana kay wala mangud mi idea anithen gamay ra among budget mao lisod jud kung ma ilad/123 mi.

[techguys]

answers on RED font

thanks techguys, kay plano mi mu palit, pero murag sa ahente ra mu atubang, murag personal (dili sa developer) ra ni nga lot. nag libog ko kay pwedi kuno tunga ra o pila ra ka sqm. ang paliton... pwedi ba jud na? - pwede na bro pero mamahalan ka ana sa survey kay mahal bayad. ngano ang uban dili man mu sugot kanang pikason (part lang sa iyang ge baligya) ang lot? - depende ra gyud na sa magbaligya kung siya mubayad sa survey d ok kaayo. mahal ba ang mag pa divide sa lot? -mahal mahal gyud na, gawas kung kaila nimo magsurvey. ang kanang mag transfer ug title dako pud na ma gasto? - mura 7.5% na tanan sa amount sa lot nga imo paliton. bayad ka transfer tax, doc tax and atty. fee. lastly ang deed of sale, kinsa dapat mu trabaho ana? - kamo na magsabot ana kung ang seller or ang broker, kasagaran kay ang broker pero adto na nila ipatong sa amount sa lot imo paliton. kung license nga broker, 5% comm pangayuon. dako pud pangayoon ana ang attorney para e notaryo? depende sa attorney. sorry daghan ko pangutana kay wala mangud mi idea anithen gamay ra among budget mao lisod jud kung ma ilad/123 mi.

[Shamash]

Credits to the Original Poster/Original Source... *link below*

------------------------------------------------------------------------------

Tips Before Buying Real Estate in the Philippines

Here are tips a buyer must remember before buying any property in the Philippines, specially if you are buying a single property from an individual:

1. Make sure the "Transfer Certificate of Title" is authentic. The easiest way to check if the title to the property you are buying is authentic is by getting "Certified True Copy" of the title from the Register of Deeds. This office is usually located at the city or municipal hall where the property is located. Ask the seller of the property for a photocopy of the title -you will need the title number and the name of the owner to get a certified true copy of the title from the Register of Deeds.

2. Verify that title is clean - meaning the property is not mortgaged (no liens & encumbrances on the property). You can see that at the back of the title with the heading "Encumbrances". This page must be empty if you are told that the title is "clean". But sometimes the space for the technical description of the property on the front page of the title is not enough and the description of the property is continued on the "Encumbrances" page, this is of course all right.

3. Make sure that the land described on the title is really the land that you are buying. You can validate this at the Register of Deeds or by hiring a private land surveyor or a geodetic engineer. Land titles don't have any street name and number to pin point a property, it is a must to confirm that the actual property you are buying matches the technical description on the Transfer Certificate of Title.

4. Make sure that the sellers are the real owners. If you are buying from an individual property owner, ask for identification papers like passport or driver's license, it is also a good idea to talk to the neighbors or the Barangay Captain to confirm the identity of the sellers (you might as well ask some history of the property).

5. Confirm that the yearly real estate taxes are paid. Ask for certified true copies of the Tax Declaration and original Tax Receipts to confirm that real estate tax payments are up to date.

If the above check list is in order, it is generally safe to proceed with the purchase of real estate in the Philippines.

source:Buying a House in the Philippines (or any Real Estate Property)
Posted on: Feb 09, 2009, 05:30 AM
Taxes, Commission & Registration

This is the standard sharing of expenses between the buyer and the seller when transferring the real estate property title (TCT - Transfer Certificate of Title or CCT - Condominium Certificate of Title) to a new owner:

The SELLER pays for the:

* Capital Gains Tax equivalent to 6% of the selling price of the property. (Withholding Tax if the seller is a corporation)
* All unpaid taxes due (if any).
* Agent / Broker's commission.

The BUYER pays for the:

* Documentary Stamp Tax - 1.5% of the selling price or zonal value or fair market value, which ever is higher.
* Transfer Tax - 0.5% of the selling price, or zonal value or fair market value, which ever is higher.
* Registration Fee - 0.25% of the selling price, or zonal value or fair market value, which ever is higher.

Incidental and miscellaneous expenses incurred during the registration process.
The above sharing of expenses is the standard practice in the Philippines. However, buyers and sellers can mutually agree on other terms as long as it is done during the negotiation period (before the signing of the "Deed of Sale").

The "Deed of Sale" or "Deed of Absolute Sale" is the document showing legal transfer of real estate property ownership. The deed of sale is then taken to the Registry of Deeds to be officially recorded after paying the documentary stamp, transfer tax and registration fees. Always verify from the Registry of Deeds the authenticity of a Transfer Certificate of Title before buying a property. If the seller only has a tax declaration, be extra cautious and check with neighbours, the Barangay captain or anyone in the know in the community to verify the seller/owner's true identity and the property's history.

Your Agent / Broker will usually do the registration process (sometimes for a fee), however, all government , taxes, transfer fees and incidental or miscellaneous expenses will be shouldered by the buyer.

Documents needed when transferring the title (TCT or CCT) to the new owner:

* Certified true copy of the title
* Copies of the Deed of Absolute Sale
* Latest tax declaration of the property
* Certificate from the Bureau of Internal Revenue that the capital gains tax and documentary stamps have been paid
* Receipt of payment of the transfer tax and registration fees

An adapted form of the "Torrens" system of land registration is used in the Philippines. The system was adapted to assure a buyer that if he buys a land covered by an Original Certificate of Title (OCT) or the Transfer Certificate of Title (TCT) issued by the Registry of Deeds, the same will be absolute, indefeasible and imprescriptible.

source:Buying a House in the Philippines (or any Real Estate Property)



Steps and Procedures of Real Estate
Sale Documentation and Registration

STEP 1: CITY/MUNICIPAL ASSESSOR’S OFFICE
SECURE THE FOLLOWING:

1. Certified True Copy of Tax Declaration (House and Lot)
2. Certificate of No Improvement (If vacant lot)
2 Original Copies – 1 for BIR and 1 for Register of Deeds

STEP 2 : CITY/MUNICIPAL TREASURER’S OFFICE
SECURE A TAX CLEARANCE

*In order to secure a Tax Clearance, Real Property Tax must be updated as of date of document of sale.

STEP 3: BUREAU OF INTERNAL REVENUE
PAY THE FOLLOWING:

1. Capital Gains Tax (6% for individual seller or 7.5% for corporation)
2. Documentary Stamps Tax (1.5%)

Note:
*Capital Gains Tax and Documentary Stamps Tax shall be based on Selling Price (per Deed of Sale)
, Market Value of Tax Declaration, or BIR Zonal Value, whichever is higher.

*Form for Capital Gains Tax can be secured from the BIR or can be downloaded from the BIR website Bureau of Internal Revenue Website

Requirements:

a. Photocopy of Certified True Copy of Transfer Certificate of Title
b. Certified True Copy of Latest Tax Declaration
c. Real Estate Tax Clearance
d. Original and two (2) Photocopies of Deed of
Absolute Sale
e. Certificate of No Improvement from the Assessor's Office if vacant lot.

Additional Note:

a. Payment for Capital Gains Tax and Documentary Stamps Tax shall be in cash or in managers check, to be paid to the BIR Regional office or BIR-authorized banks where property is located.

b. Capital Gains Tax shall be filed and paid to the BIR within thirty days from date of sale.

c. Documentary Stamps Tax shall be paid on or before the 5th day of succeeding month from the
date of sale.

STEP 4: CITY/MUNICIPAL TREASURER’S OFFICE
Pay the Transfer Tax at the Treasurer's Office.
Requirements:

a. Photocopy of Deed of Absolute Sale
b. Photocopy Transfer Certificate of Title
c. Photocopy of Tax Declaration
d. Photocopy of Real Estate Tax Clearance

*Transfer Fee is 1/2 of 1% of Selling Price or Market Value of Tax Declaration, whichever is higher

STEP 5: REGISTER OF DEEDS
Submit to the Register of Deeds where property is located the following documents:

a. Owner's Duplicate Copy of Transfer Certificate of Title
b. Deed of Absolute Sale (3 copies)
c. Certificate Authorizing Registration from
the BIR
d. Transfer Fee Receipt
e. Photocopy of Real Estate Tax Clearance
f. Photocopy of Tax Declaration or if vacant lot, Certificate of No Improvement

A NEW TITLE UNDER THE NEW OWNER’S NAME WILL BE RELEASED BY THE RD

REMINDER: The owner or the broker as authorized by the owner should be the one to present the above documents to the Register of Deeds because the new TCT shall be released only to the presenter of the above documents

STEP 6: CITY/MUNICIPAL ASSESSOR’S OFFICE
Secure from the Assessor's Office a new Tax Declaration.

Requirements:

a. Photocopy of Transfer Certificate of Title under the new owner’s name, duly authenticated at the Assessor's Office
b. Photocopy of Deed of Absolute Sale
c. Real Estate Tax Clearance

IMPORTANT:

Always bring Certified True Copies of the documents as well as necessary receipts to avoid inconvenience in case you will be required to present them.

------------------------------------------------------------------------------

Link:
https://www.istorya.net/forums/busine...ml#post8328767

[eisend]

salamat kaayo ani nga info..naa lang unta koy gikinahanglang additional info regarding aning gidata-datahan namong yuta:

Facts: !) ang tag-iya sa yuta namatay na then naa nay deed of extra judicial settlement pag year 2010, but wala pa na transfer sa name sa heirs ang title..
2) naa nakoy copy sa title og mag himo nasad mig deed of sale karong buwana

Question: 1) same raba gihapon sa process below akong himoon para ma transfer ang lot sa ako name?
2) if dili same process, unsa may additional pa nakong buhaton para ma transfer nang title?

Salamat kaayo in advance, mahuman naman gud kog bayad rong buwana, nya ang attorney di musulti sa process kay siya lang kunoy process sa transfer. murag mahal man sa ako tan-aw maong ako lay mo process

================================================== ================================
[QUOTE=Shamash;8509331]Credits to the Original Poster/Original Source... *link below*

------------------------------------------------------------------------------

Tips Before Buying Real Estate in the Philippines

Here are tips a buyer must remember before buying any property in the Philippines, specially if you are buying a single property from an individual:

1. Make sure the "Transfer Certificate of Title" is authentic. The easiest way to check if the title to the property you are buying is authentic is by getting "Certified True Copy" of the title from the Register of Deeds. This office is usually located at the city or municipal hall where the property is located. Ask the seller of the property for a photocopy of the title -you will need the title number and the name of the owner to get a certified true copy of the title from the Register of Deeds.

2. Verify that title is clean - meaning the property is not mortgaged (no liens & encumbrances on the property). You can see that at the back of the title with the heading "Encumbrances". This page must be empty if you are told that the title is "clean". But sometimes the space for the technical description of the property on the front page of the title is not enough and the description of the property is continued on the "Encumbrances" page, this is of course all right.

3. Make sure that the land described on the title is really the land that you are buying. You can validate this at the Register of Deeds or by hiring a private land surveyor or a geodetic engineer. Land titles don't have any street name and number to pin point a property, it is a must to confirm that the actual property you are buying matches the technical description on the Transfer Certificate of Title.

4. Make sure that the sellers are the real owners. If you are buying from an individual property owner, ask for identification papers like passport or driver's license, it is also a good idea to talk to the neighbors or the Barangay Captain to confirm the identity of the sellers (you might as well ask some history of the property).

5. Confirm that the yearly real estate taxes are paid. Ask for certified true copies of the Tax Declaration and original Tax Receipts to confirm that real estate tax payments are up to date.

If the above check list is in order, it is generally safe to proceed with the purchase of real estate in the Philippines.

source:Buying a House in the Philippines (or any Real Estate Property)
Posted on: Feb 09, 2009, 05:30 AM
Taxes, Commission & Registration

This is the standard sharing of expenses between the buyer and the seller when transferring the real estate property title (TCT - Transfer Certificate of Title or CCT - Condominium Certificate of Title) to a new owner:

[cebu.opportunities]

additional info for taxes and fees:

Capital Gain Tax= 6%
Documentary Stamp= 1.5%
Deed of Sale= 1%
Broker's Fee= 5%
Transfer Taxes= mag-depende sa zonal value and value naka-indicate sa deed of sale; whichever is higher; % I don't know
Inheritance Tax sa Real Estate if Deceased na ang original owner= 30%

Processing Fee:
Lawyer= 1%
Broker= depende sa sabot

@eisend,
dapat naka-transfer na sa heirs or if not, maybe ang pasabot sa imo lawyer nga siya bahala mo process ky i-doctor ang papers, hehe... kanang naka-transfer na before pa namatay ky mahal man ang tax ana, 30% pero ambot lang pud ky imo man lawyer not the seller's.
pwede ra nimo ipa-process ang broker/agent ana ky mas cheaper unya mao2x ra imo magasto if ikaw gyud mag-process.
(patudlo niya pud mi nimo ky kami npud puhon)

[april052009]

Inheritance Tax sa Real Estate if Deceased na ang original owner= 30%

makamatay lagi na ang 30%!

[gerrynelmida]

guys, i dont know if sakto ni nga section, pls. move nalang if sayop...
i would like to ask unta what are the requirements/conditions or procedures in buying a lot (yuta). planning to buy one but i'm afraid basig fake ang titolo etc... please share thanks

Check sa rd if legit ba ang title

[xyberblue]

makamatay lagi na ang 30%!

Makahigblood jd, inheritance man unta.