Sell House Philippines - PropertyMart.ph - Real Estate Broker Philippines (2024)

FAQs

Which is the best site to sell property in Philippines? ›

The attorney's fee for preparing the deed of sale in the Philippines can range from PHP 3,000 to PHP 50,000 (or more), depending on the complexity of the sale and the services provided by the attorney.

This expense must always be paid, unless otherwise agreed, by the purchaser. The same applies to transfer tax in the case of second-hand properties and value added tax in the case of new properties. In both cases, it is also the buyer who is responsible for payment.

It is the entire gross selling price or the fair market value of the property (whichever is higher), which is subject to the capital gains (income) tax at 6%.

Additionally, there's a typical title transfer service fee, which is around ₱20,000 for properties within Metro Manila and ₱30,000 outside of Metro Manila. This fee often includes the cost of the transfer agent's food and transportation expenses.

This represents 1-2% of the property value. This amount will go to notarizing the Absolute Deed of Sale and other documents related to your purchase. The Local Transfer Tax is usually around 0.50% of the property value for provincial properties and 0.75% for properties within Metro Manila.

Yes, all subdivided projects, with or without housing units, and condominium units, are required to be first registered with and licensed by the DHSUD under Presidential Decree No.

How long does it take to process a deed of sale in the Philippines? ›

Submit documents to the Registry of Deeds for the computation of registration fees. After payment, it would usually take at least two to three weeks to present the new title. Official Receipt of the Notary Public for the notarization of the deed.

What documents can landowners use to prove ownership over real property? Ownership of registered land is evidenced by either an original or transfer certificate of title issued by the relevant register of deeds. Ownership of a condominium unit is evidenced by a condominium certificate of title.

The BUYER pays for the cost of Registration:

Transfer Tax – 0.5% of the selling price, or zonal value or fair market value, which ever is higher.

When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims. Mainly for this reason, general warranty deeds are the most commonly used type of deed in real estate sales.

Selling a lot in the Philippines requires securing the official land title, recent tax declarations, and potentially enlisting a real estate broker's help. The broker can assist in evaluating the property's market value, facilitating viewings, and reaching potential buyers.

To determine the fair market value of land in the Philippines, you can hire a real estate appraiser or research similar properties. You can also calculate the market value of property in the Philippines by using the Comparative Market Analysis (CMA), cost approach, and income approach.

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