How to buy a LOT?

[pcline627]

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Hello mga istoryans!.. Just want to asked if unsa d.i buhaton if mopalit ka ug yuta?Sa akong mind dapat mo survey ka about sa yuta sa mga tao nipuyo near the place kung wala bay laen nag angkon sa yuta..Motan aw ka sa title sa yuta if clear ba? Nakapangalan sa seller ang title.. Unsa pay dapat mahibaw an nku? Please tabangi ko ninyo para naa pud koy knowledge aning butanga!..I saw many lots for sale man gud unya nindot siya kay doul sa kalsada bah... Good for business jud!..I appreciate your help guys! Salamat = )

[alfalfa]

Hi! Sakto ng imong gipang sulti TS. You must exercise due diligence in buying real properties. Usahay hasolan ang buyer to do such porke kapoyan, time-consuming, walay extra time to do the leg work, mao salig na lang dayon. Most of the times, dili porke naka pangalan sa seller ang property, wala na dayon problema na. A buyer must go beyond such. Part of exercising due diligence is to do a trace back of the said property on its certificate of title, tax declarations as well as the documents attached for the transfer of the same.

Dili ra ba lalim mag kaso2x sa yuta. Thus, you are on the right track TS.

[cebu.opportunities]

Depende if unsa siya nga type of property, individual or project property.
Individual properties are owned by individual sellers while project properties are managed and/or owned by developers.(Mas lesser kuti if Pre-developed or Developed under a Developer pero check sad background ky daghan pud cases nga dugay ang turn-over.)

These are the common things to consider when buying real estate properties:
1. Land Title under Seller's Name or Tax Declaration
a. Must be clean title.
- Seller must be living; If not, then let the beneficiary/ies settle everything first. Basta, much better if na transfer na ang ownership sa property to those living. If daghan beneficiaries, mas daghan pirma kinahanglan.
- Make sure nga wala na siya gi mortgage and review mga annotations sa Title.

2. Taxes and Fees
a. Estate Taxes
- Must be updated.
- If the owner ky deceased, make sure the seller/beneficiary paid all the necessary taxes and fees.

b. Documentary Stamps

c. Transfer of title
- Usual setting ky expense na ni sa buyer

3. Payment Scheme
a. Spot Cash
b. Deferred Payment
c. Reservation Fee, Deferred Payment of Equity (20-30% of Total Contract Price) then Spot Cash (bank financing, PAG-IBIG or In-house)
- Usual Setting for Pre-developed Properties under a Developer

4. Financing
a. Loan
- If mo apply paka og Loan, much better if accredited na daan ang property.
- For Lots, only up to 60% of the Lot's appraisal value pwede ma Loan sa Banks

5. Real Estate Agents and/or Brokers
1. Individual Property
a. Commision
- may be on top of the TCP (Total Contract Price)
- may be included in the TCP

2. Project Porperty
a. Commission
- included in the TCP


Back to the Real Estate Property itself, mao ni siya uban steps
1. Surveyor
- appraisal value
- subdivision plan
- locational or vicinity plan

2. Land of Agriculture Office
- annotations

P.S.: daghan pa kuwang and not sure sa surveyor and LOA nga part. Anyway, if naa ky agent, pwede ra sila mo process.
Make sure walay informal settlers sa property ky maglisod ka pahawa ana and if not, ikaw pa ma hassle mangita for their relocation.
Foreclosed Properties, hassle ni siya if wa pa na settle. Tasagaran naa pai kaso2x and mo take pa pila ka years.

[pcline627]

Thanks sa info Ms.Cebu.Opportunities... Helps alot = )

[superidol]

hasola d i noh?

[cebu.opportunities]

@superidol, tymsa, pwede mo katawa sa kadiyot? katawa ko sa dagway ni pikachu.
Just take it 1 step at a time.

Sa buyer nga side, di ra bya na in.ana ka hassle ky you can let other manpower do the work for you. Sa imo nga side lang is kuha ka trusted nga agent/broker. Like what I've stated in the previous post, mas dali if under sa developer labi na known na ang developer nga nindot og background, performance and record sa banks and realty property management firms. If you are to apply for Loan, much better if accredited na daan ang developer AND the project/property itself pra libre na ka sa appraisal fee of 3,500 as of year 2013.
Mao ny nakanindot if under sa trusted developer ky paper works and payment/s lang. "No sweat" kumbaga. sa Loan na lang ky murag "arti" ra ang uban banks. In terms of structural quality of work, daghan ka makapangayuan og feedback unlike sa individual properties. Pwede mn gud nga nindot tan-awn pero dali ra diay manguba.

Sa individual property and those that are already up for quite some time, diha jud ang daghan i-consider and yeah, hasol2x jud ni. If di ka vigilant, ma shock na lang ka nga naka-annotate diay nga gi-mortgage dayon wa pa ma settle. if ever, dakong labad jud sa ulo.
What's nice about individual properties ky pwede ra hangyo2x and tasagaran cheaper siya in a sense nga mas dako og lot area and floor area if with structure. More likely maka buot ka if you want any structural renovations and extensions (pero depende sad if asa na locate ang property). Spot Cash tasagaran.

[pcline627]

@superidol, tymsa, pwede mo katawa sa kadiyot? katawa ko sa dagway ni pikachu.
Just take it 1 step at a time.

Sa buyer nga side, di ra bya na in.ana ka hassle ky you can let other manpower do the work for you. Sa imo nga side lang is kuha ka trusted nga agent/broker. Like what I've stated in the previous post, mas dali if under sa developer labi na known na ang developer nga nindot og background, performance and record sa banks and realty property management firms. If you are to apply for Loan, much better if accredited na daan ang developer AND the project/property itself pra libre na ka sa appraisal fee of 3,500 as of year 2013.
Mao ny nakanindot if under sa trusted developer ky paper works and payment/s lang. "No sweat" kumbaga. sa Loan na lang ky murag "arti" ra ang uban banks. In terms of structural quality of work, daghan ka makapangayuan og feedback unlike sa individual properties. Pwede mn gud nga nindot tan-awn pero dali ra diay manguba.

Sa individual property and those that are already up for quite some time, diha jud ang daghan i-consider and yeah, hasol2x jud ni. If di ka vigilant, ma shock na lang ka nga naka-annotate diay nga gi-mortgage dayon wa pa ma settle. if ever, dakong labad jud sa ulo.
What's nice about individual properties ky pwede ra hangyo2x and tasagaran cheaper siya in a sense nga mas dako og lot area and floor area if with structure. More likely maka buot ka if you want any structural renovations and extensions (pero depende sad if asa na locate ang property). Spot Cash tasagaran.

Good explanation Cebu.Opportunities but naa ky sayop!.. Dili na si Pikachu si Hamtaro na! hehe!

[johnmangui]

Ako ikatambag nimo ani ts noh ky pangitag lawyer nga suhito ug real estate. Kuyaw kng duha mo ang nkapalit ky dako nang hasol. Or kanang mga dato nga mangilog ug yuta. 5 years nato pero hangtod karon gi kaso ghapon. Hasolsa kwarta ug oras.

[pcline627]

Mao bitaw bro dapat nga mag survey jud.. Nya sama sa gipost ni Cebu.Opportunities.. Mas gasto man gud if mag lawyer...

[cebu.opportunities]

Good explanation Cebu.Opportunities but naa ky sayop!.. Dili na si Pikachu si Hamtaro na! hehe!

sorry ha pero si pikachu (the yellow miming) ra ako nailhan. bahala'g with orange ra na siya, haha...

OnT:
If naa jud bikil ang property, that's the time you'll need a lawyer pero if sigurista jud ka, then...