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.
To know more about
property in Philippines particularly Cebu province. Please don't hesitate to
contact below details.
Engr. Randy Lumaad
Property
Consultant-Bachelors Realty & Brokerage
Cell SUN: +639236577061
Landline PLDT: +63 (032)
263-0369
whatsup: +639995249272
Viber: +639236577061
email:
randy_lumaad@yahoo.com
website:
www.bachelorsrealty.com.ph/randy_lumaad
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