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Important Tips before Buying Real Estate Properties in the Philippines

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Buying a house or a property in the country is one of the biggest decisions we can ever make. Why? Because it involves a hefty price tag and you can never go wrong with that decision, or you will just be throwing your money away.Important-Tips-before-Buying-Real-Estate-Properties-in-the-Philippines

This is the reason why it is important that you ponder upon this decision and make sure you are making the right one by observing the following tips when buying real estates properties.

1. Verify the authenticity of the “Transfer Certificate of Title”. This is something that you can do by getting a Certified True Copy from the  Register of Deeds in the place where the property is currently located. You can go to the municipality or city hall and request for the photocopy of the property title from the person who is selling the property. You will need important information such as the name of the property owner and the title number.

2. The title should be clean. When you say that the title is clean, it means that the property is not mortgaged, and it does not have any obstructions and no liens.

3. Verify the land description on the title. You need to make sure that the description of the property on the title is exactly the same as the property you are purchasing. You can ask for the services of a land surveyor to verify this.

Read also: How to Start a Buy and Sell Business in the Philippines

4. Confirm that the sellers are the real owners. It won’t hurt to make sure that the sellers are the true owners of the property. Check for their identification by asking for their valid IDs like passport and other government issued identification.

5. Take time to survey in the area. Talk to the neighbors around the property so as to get as much information you need to make sure you are not being fooled into buying the property.

Read also: Where to Find Affordable Properties in the Philippines

6. Check the vacancy. If it is a lot or land that you are purchasing, you also have to check if there is anyone living in it or that is going to be another problem. If there are other people using the land, the seller should make it a point to get it vacated until the deal is closed.