Buying Ajoining Property

[scott h]

Thought i would start a new thread:Situation: My wife owns a house and the property in our Barangay. We plan on tearing down the old house and building new. We have just heard that the lady who owns the house (and hopefully propetry) behind our house wants to sell to us and move to where ever.Outcome: We are considereing buying the property (and the house?), tear both houses down and build a new palace.Questions1. Whe need to insure that both deeds to house and property are transferred?2. Lawyer or equivilent of realestate agent needs to be involved?3. How many goverment agencies are expected to be involved.4. Pitfalls?Concerns: Besides the questions above, i have heard scare stories about relatives coming out of the wood work sometimes years after all is said and done and causing major head aches and want to be prepared for as many eventualitys as possibleThanks Guys(is there a spell check on this thing? lol)

[Dave Hounddriver]

I am sure you know that there is a larger element of risk buying property in Philippines as opposed to California. You don't mention if your wife is with you in the US or if she is still resident in Philippines. That makes a huge difference. Repatriating filipinas are limited in the amount of property they are allowed to own, well at least that is what the law says. Just something to keep in mind.Anyway, if the amount of the purchase is something you are comfortable gambling with then go for it. Just wait a while before tearing down both houses and building. Just to see what problems come up.

[scott h]

Sorry Dave, didnt mention that the purchace would not take place until we retired and moved there in the December timeframe. just trying to get as far ahead of the game as possible.

[billten]

Scott, where is the property located?If its in a city (this experience refers to Cebu, elsewhere things may be different) there are often decent records. If you are in the bukid, things get a lot more difficult. Things to check on are- is the land titled?- is the land taxes paid- are there any liens on the lotThe ownership is a major issue, also are things like outstanding prenda using the lot as collateral. IME using a lawyer is useless except to guide YOU though the process of checking for yourself. As you go through this remember ALL THE LIABILITY IS YOURS...The best and most reliable way of getting all the ugly details, i have found, is to go and get to know all the neighbors and locals. Gossip and chikka is the local currency in most barangays and you will often find the deepest and darkest secrets about the lot and the sellers. Just remember to validate the information before you actually believe it ;-)Oh, and lastly, this is the Philippines, if you want to rush or push the pace, you WILL pay more, often a lot more.Good luck...

Edited March 1, 2012 by billten