Need Help Recognising Honest Real Estate Developer

[JJReyes]

Can someone assist me in regards to what documents I should be asking to see in regards to the property in question.

 

You can't rely on documents presented by the real estate developer or property owner. You need to hire a law firm to do the research similar to a title search in the United States. The problem you might encounter in Palawan is most of the beachfront land is "tax declaration." It is not a true title. Someone has been paying land taxes to the municipality for a number of years while using the land. The person then files a claim of ownership. Your problem is there might be an original title dating back to the Torrens Title system and someone else might file an adverse claim later. They usually wait until after you build a beautiful home before emerging as the legitimate owner.

 

The advice is, "Stay away!" unless you are the type who enjoys spending years in court. Some of the fights can be nasty and even violent. The ideal situation is a long term lease on an existing beachfront house with a clause allowing you to walk away from the lease if there is a family or ownership dispute.

[billygoat993]

If its a beach front there is no developer then usually its a direct sale. Like JJ said anybody can pay the TD of the lot. But if you know the exact location/address you can ask the City Assessor office to check who owns it and if its updated in RPT. Next would be to go to the Registry of Deeds that covers the Area or where the Title is registered from there you will see if it has Title or still in Spanish title or if there is a Lis Pendens or anything anotated at the last page. It usually takes a week to request for such but a 500 peso snack would suffice to make it get released in a day. There are lots of beach properties being sold in Coron, Palawan but back then I encountered like they are claiming the coverage is this much but from survey its not that big and there are rules that governs to some areas with regards to development.

[Medic Mike]

If its a beach front there is no developer then usually its a direct sale. Like JJ said anybody can pay the TD of the lot. But if you know the exact location/address you can ask the City Assessor office to check who owns it and if its updated in RPT. Next would be to go to the Registry of Deeds that covers the Area or where the Title is registered from there you will see if it has Title or still in Spanish title or if there is a Lis Pendens or anything anotated at the last page. It usually takes a week to request for such but a 500 peso snack would suffice to make it get released in a day. There are lots of beach properties being sold in Coron, Palawan but back then I encountered like they are claiming the coverage is this much but from survey its not that big and there are rules that governs to some areas with regards to development.

Yep, that is what I plan to do on Monday to check with Registry of Deeds, and then take it from there.

[Medic Mike]

 

Can someone assist me in regards to what documents I should be asking to see in regards to the property in question.

 

You can't rely on documents presented by the real estate developer or property owner. You need to hire a law firm to do the research similar to a title search in the United States. The problem you might encounter in Palawan is most of the beachfront land is "tax declaration." It is not a true title. Someone has been paying land taxes to the municipality for a number of years while using the land. The person then files a claim of ownership. Your problem is there might be an original title dating back to the Torrens Title system and someone else might file an adverse claim later. They usually wait until after you build a beautiful home before emerging as the legitimate owner.

 

The advice is, "Stay away!" unless you are the type who enjoys spending years in court. Some of the fights can be nasty and even violent. The ideal situation is a long term lease on an existing beachfront house with a clause allowing you to walk away from the lease if there is a family or ownership dispute.

 

Good advice.

[Malcolm Graham]

Just one thing i bought a lot for someone I knew 2 years ago.  All checks I could think of passed before any money changed hands.  The title is still held by the attorney classed as processing.  I told the attorney I was walking away from the situation, my name appears on nothing, the title is about to be cleared.  The attorney is a member of the family.  The friend got the lot lot and the house I built on it for less than 750000php so I have walked away from the situation

[Thomas]

Just one thing i bought a lot for someone I knew 2 years ago.  All checks I could think of passed before any money changed hands.  The title is still held by the attorney classed as processing.  I told the attorney I was walking away from the situation, my name appears on nothing, the title is about to be cleared.  The attorney is a member of the family.  The friend got the lot lot and the house I built on it for less than 750000php so I have walked away from the situation

Processing of

/Transfer of ownership?  Remarkable it isn't done yet  :1 (103):

/Get it titled?  Not odd if it take long time, if the documents aren't 100 % clear.

 

Member of who's family, the old or new owner?    Not suprising if it take long time if the lawyer is member of seller's family  :)

[efigy]

dishonesty is the norm here,,,i shop at hardware at robinsons at silang,,noticed a trend now of the young sales people hanging around the cash register to jot down the amount of the sale,,they dont bother to asist with customers,,,,

[billygoat993]

@efigy At times businesses try to avoid using their POS as per instructions from tge management its a way to lessen the sales to be declared in BIR. But then there are also some employees doing that but without any knowledge from the management sales goes directly to the pocket of employees and will only be noticed during physical inventory. We have Robinsons now as well in Nuvali and True Value here. They are building Solenad/nuvali3 wherein they are planning to put up a Cinema. Its getting busy here now. Value going up but I hope they will still maintain that there are no jeepneys and Buses in that area or else traffic will start.

Edited March 23, 2014 by billygoat993

[Americano]

Mike,

 

If you find an honest person in the Philippines who deals in real state then please tell me, I would like to meet that person.

 

You can check the Tax Declaration and Title yourself. In my experience, you will find a reason that the person trying to sell the land to you can not legally sell it because their name is not on the Tax Declaration or on the Title. Sometimes it will be stated on the Title why the land can't be sold. In 2012 a friend of mine wanted to but some land from his girlfriend's grandmother but on the Title it said the land couldn't be sold for 10 years and the Title was dated 2007. My wife and I looked at many lots before we finally found one that has a Tax Declaration and Title in the people's name who were trying to sell it. Most people in the Philippines are trying to sell land that they do not own.

[billygoat993]

I agree with you Americano. Some would even try to double sell tgeir property here. Its best tgat once in RD ask for the history of the title. They usually have a log book on who requested and what had been done to the title. Others tebd to provide old TCT when you verify it they give you copy of the old TCT cause that is the number you requested without knowing somebody had bought it already and it has a new number and a nee owner. For those who bought lots already from a previous owner they can check the number and it will state in tgeir new TCT that it came from this old number of TCT. Registry of deeds can actually solve this without getting too messy by saying right there and then that the old tct u are requestibg has a new number and owner but they do not say it.

I also have a land that i can not sell like what you are sayibg but mine is under the DAR ruling. Some can sell it little by little after 10 years depending on the size of the lot.

I think some RD you can check it online to avoid hassle.