Property lawyer

[Jollygoodfellow]

Anyone have an idea of what it cost for a property lawyer to handle a sale of a condo? Such as contracts ETC. 

[JDDavao II]

27 minutes ago, Jollygoodfellow said:

Anyone have an idea of what it cost for a property lawyer to handle a sale of a condo? Such as contracts ETC. 

Lawyer? Uh...

[bastonjock]

5 hours ago, Jollygoodfellow said:

Anyone have an idea of what it cost for a property lawyer to handle a sale of a condo? Such as contracts ETC. 

I paid 100k pesos, I am told that the going rate is 300t pesos by two separate attorneys 

I can get you the contact details of the guy in davao if it's any use to you 

[Jollygoodfellow]

6 hours ago, JDDavao said:

Lawyer? Uh...

Don't get it?

A lawyer or attorney is a person who practices law, as an advocate, attorney, attorney at law, barrister, barrister-at-law, bar-at-law, counsel, counselor, counsellor, counselor at law, or solicitor, but not as a paralegal or charter executive secretary.[1] Working as a lawyer involves the practical application of abstract legal theories and knowledge to solve specific individualized problems, or to advance the interests of those who hire lawyers to perform legal services.

The role of the lawyer varies greatly across legal jurisdictions, and so it can be treated here in only the most general terms.

[scott h]

2 hours ago, Jollygoodfellow said:

Don't get it?

I think means its gonna kost you an arm and a leg to hire a lawyer    Another colonist saying lol

[Snowy79]

Here is the rate that I paid when buying my condo.  I on paper paid 3m for it.  Actually 3.5m plus all costs.  The lower fee was to reduce taxes but within the legal and sensible purchase price.  I was advised if I reported the buying price at too low a rate it could cause issues down the line if I came to sell. 

Cap tax at 6% of 3m = 180,000php

 

Document tax of 1.5% of 3m = 45,000 php.

 

Transfer tax of 0.5% of 3m = 15,000 php.

 

Registration fee of 0.25% of 3m = 7,500 php. 

 

Your fee ( Attorney) of 1% of 3.5m = 35,000 php.  

 

As you can see my attorney charged 1% of the actual purchase price.  Phoning around a few attorneys and real estate agents I was assured this was a standard fee. 

[GeoffH]

I don’t have the papers handy for the deatails but all up fees and taxes were about 350,000 on our condo (4.5 million total cost).  The fees for the house were only about 280,000 even though the house was about the same cost.

 

Same agent (a cousin of SWMBO) but different attorney.

[Mike J]

I think most attorneys determine the fee based on a percentage of the sale price.  Makes no sense to me as it seems the paperwork would be the same for a 3 million peso sale would be no different than for a 6 million sale.  That being said - this is the Philippines and some things just don't . . . . 

 

 

[JDDavao II]

5 hours ago, scott h said:

I think means its gonna kost you an arm and a leg to hire a lawyer    Another colonist saying lol

Yep.

[Dave Hounddriver]

4 hours ago, Mike J said:

Makes no sense to me as it seems the paperwork would be the same for a 3 million peso sale would be no different than for a 6 million sale

The same could be said of the "capital gains tax" and real estate taxes and any other costs.  It seems all the costs are based on a percentage of the sale price with the general attitude being:  How much can you afford?  We want a percentage of that.