Forum Support Mike J Posted July 10 Forum Support Posted July 10 1 hour ago, BrettGC said: Where we are it's approximately 2000PHP/m. How did everyone selling in the area come to this conclusion? About 12 months ago, someone put up a sign on the lot they were selling for that amount and then everyone else just did the same. Herd mentality? 2 Link to comment Share on other sites More sharing options...
Forum Support Tommy T. Posted July 10 Forum Support Posted July 10 (edited) 21 minutes ago, Mike J said: Herd mentality? In my observations, many many things here seem to follow herd mentality. Edited July 10 by Tommy T. 2 Link to comment Share on other sites More sharing options...
BrettGC Posted July 10 Posted July 10 23 minutes ago, Mike J said: Herd mentality? 2 minutes ago, Tommy T. said: In my observations, many many things here seem to follow herd mentality. 1 2 Link to comment Share on other sites More sharing options...
"P2" Posted July 11 Author Posted July 11 This is not giving me a lot of confidence in purchasing land/property.... 1 1 Link to comment Share on other sites More sharing options...
graham59 Posted July 11 Posted July 11 Good... you need to be wary. 2 Link to comment Share on other sites More sharing options...
Gator Posted July 11 Posted July 11 2 hours ago, graham59 said: Good... you need to be wary. Exactly. Buyer beware. @“P2” Don’t believe anything a seller tells you unless you verify it for yourself. Check with the municipality for any encumbrances and ask to see the declaration (title) to ensure who the is owner(s). And if the seller is not the owner ensure he/she/it has power of attorney to act on the owners behalf. You also want to check with the BIR about any taxes that may be in arrears and they can also give you an estimate of the capital gains (sales) tax and document fees you’ll have to pay (negotiable with the seller). 3 2 Link to comment Share on other sites More sharing options...
Forum Support Mike J Posted July 11 Forum Support Posted July 11 9 hours ago, graham59 said: Good... you need to be wary. I was going to say the same. I have a friend who has bought a few houses while trading up. What he does is finance via one of the large banks. The banks do in depth research in case the loan goes into default and they end up with land that has problems. Once the purchase is completed my friend immediately pays off the load because interest rates here are high. He said you need to read the load agreement carefully to avoid heavy pre-payment penalties. This worked for him as his wife was Filipina and was a teacher with salary. 5 1 Link to comment Share on other sites More sharing options...
spaul Posted July 13 Posted July 13 On 7/11/2024 at 8:26 PM, "P2" said: This is not giving me a lot of confidence in purchasing land/property.... Another thing is on FB marketplace, you'll see people advertising houses for sale. These are not legitimate real estate agents. They are just people who are getting a commission for bringing someone to see the house (same thing when going to see a rental). So expect the price to be higher than what the seller is actually asking. Buying a house here is a completely different experience than back at home, everything is different. Most important is you have to see the Title when buying and not many people have one. No Title, walk away. If you come across something that is "Mother Title", I would say that's even worse. That's my advice. 5 Link to comment Share on other sites More sharing options...
GeoffH Posted July 14 Posted July 14 13 hours ago, spaul said: No Title, walk away. That's one of the reasons why I prefer sub divisions and condos, less issue with titles. 1 Link to comment Share on other sites More sharing options...
Graywulf Posted July 21 Posted July 21 On 7/14/2024 at 3:40 PM, GeoffH said: That's one of the reasons why I prefer sub divisions and condos, less issue with titles. Are condo prices seen online (Dotproperty for example) accurate? Or are these as subject to inflated prices for used units as house/lot appear to be? I'm likely as a single, to be 'condo bound' as a property. 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now