Real Estate Philippines is one of the growing businesses nowadays in our country. It is evident that most of our fellowmen wanted to have at least one unit as their investment. But before you settle down with this kind of investment, let us make a checklist that might help each of us before buying a real estate property.
Listed below are some of the tips that a buyer should be considered before having a property in the Philippines most especially if you are buying your unit from an individual.
1.See to it that the “Transfer Certificate of Title” is original and authenticated. Ask for the “Certified True Copy” of the title just to check whether it is authentic or not, that’s possibly the easiest way that you can do.
2. Double check if the title is clean. Free from mortgaged. When you look at the back of the title, and you see “Encumbrance” on the heading, meaning the property is still suffering from any liabilities ad accountabilities. The heading on the back should be empty if the title is clean.
3. Make sure that the description of the land written in the title is the same land that you about to purchase. You are welcome to validate it at the Register of deed. If you don’t have time and you’re busy, you can hire a land surveyor to make the double checking. You should be aware and it is a must to validate that the actual property you are about to avail matches the description in the title.
4. Also, see to it that the seller is the legitimate and real owner of the land. Always look for his identification for checking purposes. You can also do simple background checking of the seller by asking your neighborhood or even the barangay chairman to know his real identity.
5.Do confirmation of the yearly estate taxes. See to it that all taxes are paid. You can ask for the true copy of Tax Declaration and the original Tax Receipts to assure the real estate tax.
Once the above check list is okay and you don’t see any irregularities, you can now fulfill your dreams by buying a real estate property.
If you have time, you can check out http://www.vistalandinternational.com/ for widely varieties and more choices of a real estate property in the Philippines.
Related Post:
5 Things to Ponder Before Buying House and Lot in the Philippines