Author Topic: (34) FAQ About Real Estate-Planning to Buy A House & Lot  (Read 1265 times)

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(34) FAQ About Real Estate-Planning to Buy A House & Lot
« on: January 21, 2009, 11:16:57 AM »
If you want to buy a subdivision lot and a house over it, some WORDS OF CAUTION, SO THAT YOU WILL NOT REGRET AT THE END OF THE DAY.  tRY TO ASK YOUR AGENT OR THE OPERATION MANAGER THE FOLLOWING BASIC QUESTIONS:

1. Is the company registered with the following agencies of the government:
 a-SEC- for corporation and partnership
 b-DTI-For  single proprietorship
 c. HLURB_For accreditation as  real estate dealer/developer-where AUTHORITY TO SELL WILL BE   
    ISSUED BY HLURB WHEN ALL REQUIREMENTS ARE COMPLIED BY THE DEVELOPER.
 d. IS The subdivision project (meaning the land where you intend to buy) approved by:
 1-DAR (for conversion from agricultural to residential)
 2.By City Council for the approval of its subdivision status
 3 By the Land Registration Authority(Bureau of Lands-DENR) for the approval of its subdivision
    plan
 2. Is the company accredited by the BIR as dealer of Real Estate

 3. Get a CERTIFIED xerox copy OF THE MOTHER LOT OR THE SUBDIVISION LOT, from the Register of Deeds and know the following:

IS THE TITLE FREE FROM THE FOLLOWING:
a-Mortgage-It is likely possible that foreclosed yung property ng may-ari  at gusto lang niya  na makalikum ng malaking pera, para kunin ang titulo niya;
b-The property might be subject to a lis pendens, or adverse claim among the heirs that would prohibit the subdivison, of said property
c-The property might not have been paid its real property tax, or is in the process of public auction for non payment of tax-gO TO THE cITY tREASURER
d-the property might be used for a bond-GO TO THE CITY ASSESSOR AND SECURE A CERTIFIED TRUE COPY OF THE TAX DECLARATION;

4. the developer/owner of the subdivision had been a subject of so many claims/complaints as to
a. UNFINIshed project;
b. Building of substandard materials
c. Overpricing of units and lots
d. Claim against the developer for non-payment of the property owners.

 No. 4- a to d would be more than enough to place the Owner/Developer of the subdivision BLACKLISTED WITH THE HLURB.

IF YOU HAPPEN TO ADVANCE SUBSTANTIAL AMOUNT OF MONEY, IT WOULD BE HARD FOR YOU TO GET IT BACK. BE MUCH AWARE OF THE ABOVE MENTIONED SCENARIO.  Even developer with good track records in realty business has its own KALOKOHAN.  DO NOT BE DECEIVED AND BE TRAPPED BY THOSE GOOD TALKERS. You have to do some personal assignments before jumping, aron dili dako ang pagmahay ugma damlag. Dili man ka amapugos, kun dili gyod ka mouyon.

Yes, it is pretty good, to do our assignment first before entrusting our hard earned money to STRANGERS IN THE NIGHT., WHO ARE THERE GROPING IN THE DARK, ESPECIALLY IF THEY KNEW THAT THEIR NEXT VICTIM IS MARRIED TO A FOREIGNER.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=17368.0
ALEJANDRO TAGAB LAGANSON, SR.
Purok 25-A, Teachers Village, Calinan, D. C.
Licensed Real Estate Broker PRC 0009807
Real Property Asessing Officer (CSC & DOF)ROR 3351 Email  ad: [email protected]

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