Advice needed buying and building

[BrettGC]

56 minutes ago, Snowy79 said:

 

“It’s really surprising, but the question is: why were they issued permits when the area they have been occupying is a confirmed forest land? One cannot issue a building permit, zoning permit, special land use permit, or any kind of permit on forest land,” he stressed.

He said those who issued the permits are also liable for violating the law.

Sounds a bit harsh as they could be considered "victims" but upon reflection I have no doubt they knew exactly what they were doing.  If they didn't, the authorities should go after the lawyers that gave them the bad advice.. Oh wait, just remembered where I am.  

[Scooter]

17 hours ago, Peaceful John said:

This is true Scooter, but as mentioned, the problem becomes finding a bank that will lend to you (even if you are married in some cases).  The banks just don't trust that you are not going to get tired of it here and leave.  These are the exact words I was told by 2 bank managers (Metro and BDO), the other banks just declined us.  It made no difference about my resources or credit history.  Also a big issue with the banks for some of us is age.  If you're in your 60's or more, the banks will "probably" not lend to you unless you put a huge amount down, and then that defeats the purpose of getting the loan (at least for me).  If you are a foreigner married to a Filipino, and your wife is employed with a decent job, you stand a chance of finding a bank to work with you.  But that's assuming the age issue is not a problem with them.  I'm truly sorry my friend for being so negative because I really want you to succeed with your dreams and desires.  But here in the PI you must be armed with knowledge and truth (and patience).  Otherwise, I can assure you you will be taken advantage of by some one and loose everything.  Note:  The owner of the property you viewed wanted to sell it to you immediately..,,,,,,,,,,,, when it isn't even legal for them to do it.  One last note.... once you have handed your money over to someone, the chances are very good it's gone forever.  They are not real fond of returning it.  Again, I say this from experience.  These are just my thoughts and opinions my friend.  There might be some who completely disagree with me, and I really hope they are the ones who are right here.  Bottom line, "Baby Steps" my friend.  I am here because I love and adore my wife and children......otherwise, I might rethink my living here full time.  Again, just my personal thoughts.  Take to heart what you have read from everyone.  Most all the folks here want you to succeed and be happy.  Good Luck and keep us posted.

john

Thank you   all knowledge is good knowledge. I appreciate you taking the time to share. 

[Scooter]

Extremely use ful thank you

[Scooter]

Out of curiosity I'm wondering about resorts. A few of the nicer ones I stayed at were owned by Americans. And a couple homes that were for rent for vacation were also owned by Americans . Do commercial properties have a benifit over personal properties?

 

[Snowy79]

1 hour ago, Scooter said:

Out of curiosity I'm wondering about resorts. A few of the nicer ones I stayed at were owned by Americans. And a couple homes that were for rent for vacation were also owned by Americans . Do commercial properties have a benifit over personal properties?

 

Many resorts are set up as a corporation, it used to be 60% Filipino and 40% Foreign ownership but there were recent changes last year on business ownership. Some businesses can now be 100% foreign owned but there are exceptions. I've not kept up on it as I'm now a happy owner of a condo.

Your safest bet is to buy a condo or two inside a resort owned by a major player in the Philippines like DCMI homes, Mega World etc.  They are billion peso companies with friends in high places so your money is as safe as can be, plus the condo can be 100% in your name.  Then just rent them out for some spare income and with luck their value will increase.  Forget buying in big cities though as supply far outweighs demand.

[Snowy79]

13 hours ago, BrettGC said:

Sounds a bit harsh as they could be considered "victims" but upon reflection I have no doubt they knew exactly what they were doing.  If they didn't, the authorities should go after the lawyers that gave them the bad advice.. Oh wait, just remembered where I am.  

I could put money on it they knew what they were doing but were listening to others that had been trying to bypass the situation and working on the premise that as it's the local government signing the dodgy paperwork they are safe, not realising it's all digitised now and can be viewed at National level.  

Many are still under the impression the Philippies is run off the back of a packet of cigarettes but technology s catching up. The days of word of mouth and hand written records are slowly disappearing.  

[Dave Hounddriver]

5 hours ago, Scooter said:

Do commercial properties have a benifit over personal properties?

 

3 hours ago, Snowy79 said:

Many resorts are set up as a corporation

True that.  Sometimes the corporation that owns the resort also buys a house for the foreign owner.  That probably contravenes the anti-dummy law but since there is no legal way for a foreigner to own a house then that "scheme" is as good as any.

[Joey G]

12 hours ago, Scooter said:

A few of the nicer ones I stayed at were owned by Americans. And a couple homes that were for rent for vacation were also owned by Americans .

Many Americans say they "own" businesses, houses, and property in the Philippines... but in reality they just "paid for" the business, house, or property in the Philippines... but if you scratch the surface... their names aren't listed on any legal document of ownership.  

[Scooter]

On 7/16/2022 at 4:56 AM, Joey G said:

Many Americans say they "own" businesses, houses, and property in the Philippines... but in reality they just "paid for" the business, house, or property in the Philippines... but if you scratch the surface... their names aren't listed on any legal document of ownership.  

More like a silent partner then. 

[Joey G]

9 minutes ago, Scooter said:

More like a silent partner then. 

A "silent partner" typically has legal ownership, just not involved in daily business dealings...  but whatever term makes one feel better works