Tips Before Buying Real Estate In The Philippines

Philippines property for sale.

Buying a real estate property is a huge investment which is why one must completely think it through because there is no going back. Individuals that regularly invest in real estate properties are well aware of the market and the demand of the certain property but first time buyers face a lot of difficulties and have to go through a lot of platforms to ensure that they are investing in the right property.

If you are planning on buying a property in Philippines that there are certain things that you must keep in mind before getting into business with anyone because there is always a chance of fraudulent activity. So keep the below things in mind before buying the Philippines property for sale.

1.      The Authenticity of the transfer certificate of title

One must make sure that the Transfer Certificate of title is authentic. Don’t believe what the sellers are saying. Ask them for the copy of the title certificate and check on your own. The simplest way to check the authenticity of the title is to get the Certified True copy of the property from the Register of Deeds.

2.      Make sure that the title is clean

Before buying a property make sure that the property is not mortgaged or placed as a security in a business deal. If you are told by the seller that the property is clean then the back side of the title certificate must be empty with the heading Encumbrances.

3.      The title belongs to the property that you are buying

A lot of fraudulent activity takes place in case of land purchases which is why you must make sure that the title certificate is for the land that you are buying. The best way to make sure of that is to check at the Register of Deeds or by hiring a professional.

4.      Make sure that the taxes are paid

It is necessary to make sure that the yearly real estate taxes are paid. Don’t believe the word of the sellers. Ask them for the true copies of the Tax Declaration and the original Tax receipts to ensure that you don’t end you with unpaid taxes.

Conclusion

If you have made sure that the above check list is fully in order and you are completely satisfied from the selling part then you can go ahead and buy your Philippines homes or any other property that you wish to invest in. It is generally safe to proceed with the purchase of real estate in the Philippines if the above requirements are met.