Monday, May 19, 2014

Important tips for home buyers

For many Filipinos, buying a home is a significant dream and one of the biggest investments they will make in their lives.    

Confirm that the property title is ‘clean.’ This can be verified upon seeing the back page of the title.

Home buyers should take precautionary measures to avoid common pitfalls and ensure that they’re paying for a legitimate property that’s worth their money. 

Before committing to buying a home, check the following items first for a safe and smooth transaction. 

 A ‘clean’ title

Confirm that the property title is ‘clean.’ This can be verified upon seeing the back page of the title. A heading called ‘Encumbrances’ should be left blank. However, in some instances, the description of the property goes over its designated space and extends into the ‘Encumbrances’ page, which is fine. 

Seller and owner

Make sure that the seller of the property is its real owner. Ask for several government-issued identification documents such as a driver’s license or passport to confirm this. Neighbors, homeowners association officials and barangay officials may also help in confirming this. 

Authentic transfer certificate of title

Get a certified copy of the title from the Register of Deeds to verify that the transfer certificate of title is authentic. The Register of Deeds can be found at the city or municipal hall where the property is located. The title number and the owner’s name are needed to obtain the certified copy, so it’s best to get a photocopy of the transfer certificate of title from the owner. 

The right land

Confirm that the transfer certificate title pertains to the specific stand you’re buying. This may also be verified at the Register of Deeds. Alternatively, you could hire a land surveyor or geodetic engineer. 

Paid taxes

Ask for copies of the tax declaration and original tax receipts to ensure that the property taxes have been paid. Make sure there are no delinquent taxes otherwise you may have to shoulder these expenses. 


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