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There are major things to consider before buying Real Estate or Real Property in the Philippines.

1. Only Filipino citizens can own or buy a real estate/real property in the Philippines.  For former Filipino citizens, they are likewise allowed to own or acquire properties in the Philippines under Republic Act 9225 or the Citizenship Retention and Re-acquisition Act of 2003.

2. Generally foreign citizens cannot own nor buy land/property in the Philippines, however, they are allowed under the law to own a house and lot; provided, he/she is legally married to a Filipino citizen. 

3. A foreigner really want to buy a house, he/she may opt to consider a Long-term Lease Agreement to a Filipino owner as provided therein under Republic Act 7652 otherwise known as Investors’ Lease Act, wherein it has an initial period of up to 50 years, and renewable for another 25 years.

4. When it comes to Condominiums, Filipino citizens and foreigners can both own or buy a unit.  However, there is a restriction under the Philippine Condominium Act that majority of the condo units or at least 60% of the units must be owned by the Filipino citizens.  Likewise, A foreigner can buy a property in the Philippines through a Corporation, provided its ownership is at least 60% or majority of the corporation is owned by Filipino citizens.  Furthermore, the corporation must be duly registered in the Securities and Exchange Commission(SEC) and at the same time registered in the Board of Investment.

5. For security and safety measure, it is highly advised that for any real estate transaction you must engage or hire a professional Realtor or Real Estate Broker who is duly licensed by the Professional Regulations Commission(PRC) of the Philippine Government to protect your rights as a buyer or investor.  To engage a Real Estate Broker means less hassle on your part for it is the duty of the broker to serve you in finding the best and updated choice of property and such other requirements for the real estate transaction.

1. FIRST, it is necessary to check the authenticity of the Original Certificate of Title(OCT) or the Transfer of Certificate of Title(TCT).  This can be done by securing a Certified True Copy of the Title in the local Register of Deeds which has jurisdiction of the property.  There are properties that are still not titled, in this case an updated Tax Declaration will suffice.  However, for safety and security of your investment, it is best that you deal with a titled property.

2. THEN, double check if the property is clean from any prior mortgaged to a third party or any liens and encumbrances.  There are properties that are mortgaged and at the same time secretly being sold to another unsuspecting buyer.  In this case, the new buyer will have future problems if this will arise considering that it is mortgaged to another.  Hence, it is better to ask the seller/owner of the property or do some due diligence before buying the property.  

3.  NEXT, be sure that the owner or seller is the real owner of the property.  Ask some identifications and other supporting documents that indeed the property is rightfully owned by the seller.  

4. FINALLY, ask the owner if the property is updated in its Annual Real Estate Taxes.  To do this, ask a Certified True Copies of the Tax Declaration and Original Tax Receipt to confirm that the property is updated in its Tax dues.

It is highly advised to acquire or invest in a “pre-selling” property or before its completion, during construction or while it is still in planning stages.  The benefits of pre-selling are that it is cheaper as compared to a ready-for-occupancy unit.  It has a long term payment and more flexible as compared to a ready unit.  Finally, when you invest early, its not only cheaper but it is also increasing its value until its completion and until delivery.  

Yes, under the Real Estate Service Act of the Philippines or RESA Law(R.A. 9646), only licensed Real Estate Broker or an Accredited Real Estate Sales Person under the license of a broker may engage in the practice of Real Estate services.

The advantages of having a professional real estate broker is that it is more convenient and hassle-free for the buyer or investor since the broker will do most of the paper works such as follow-up of requirements form the buyer and eventually submitting them to the developer or seller.

The experience and knowledge of the broker will help you ease up your decision-making specially in the entire process.  Broker’s negotiation skills expedite the process bearing in mind the best interest of the client or investor.

Updates on the increases and decreases of the prices or offers to purchase a property is well within the broad spectrum of the broker’s skill to best advice a client in his/her well informed decision-making before investing in real estate. 

Hiring a broker serves as a “buffer zone” between the buyer and seller, or between the client and developer of the property.  Brokers are well-versed in the current market trends such as prices, best locations, new developments, competitors and wise investment which you can use to your advantage before you decide to invest.

House

INVESTMENT / PRICE: A house is less expensive than a condominium specially in rural or in provinces wherein acquiring a land is cheaper as compared to condominium wherein the latter is constructed in a limited land area.

PRIVACY:​ There is more privacy considering that there is more space and rooms than an ordinary condo unit.  In a house and lot, there is low density to unit owners and means less interactions specially from neighbors.

ENJOYMENT OF THE PROPERTY: Full exclusive rights to own and enjoy your property because there is less restrictions as to design, renovation and even how many floors you can build save those limitations under the law.

COMFORT AND LUXURY: Owning a house and lot is likely for comfort but not necessarily for luxury living unless you have a high-end house in an exclusive subdivision.

ACCESSIBILITY AND PROXIMITY:  This is one lacking for house owners unless you are strategically located near the center of basic services or goods in the city such as hospitals, government offices, business centers, church and malls.  However, as a house lover, it is always best to invest in real estate when location is the significant factor in choosing to invest a house instead of a condo.

OPPORTUNITY FOR RESALE: Both house owners and condo unit owners enjoy the same opportunity.  It will now depend on the quality and location of the property and also the track record of the developer which will contribute much for a second buyer in deciding to buy a second hand home.

LIFETIME:  House and lot enjoys the benefit that it can be owned in a lifetime basis.  Most importantly, it can be passed on a succession to a family member or heirs.  There is no need for extension of its ownership and enjoyment because it is a perpetual ownership one can enjoy during once lifetime.

Condominium

INVESTMENT/PRICE: Condominiums are a little bit expensive as compared to homes in urbanized community.  However, it is more expensive to own a house and lot in Metro Manila than in Cebu City.


PRIVACY: Less privacy due to sharing of common amenities and utilities in a condo environment.  On the other hand, it can be said that there is more privacy in condo living since it just a lock and leave concept.

​ENJOYMENT OF THE PROPERTY: Although there are restrictions as to renovations and designs, there is greater advantage in using and enjoying amenities and other utilities for unit owners which house owners cannot avail.

​COMFORT AND LUXURY: Condo unit owners enjoys more privilege of a luxury living because most unit owners also owns a house and lot. 


​ACCESSIBILITY AND PROXIMITY: Condo living is in the view of modern living especially now that condo development have a lot of themes such city resort living, condo within a mall, master-planned community and iconic condo buildings with exclusive amenities and accessibility.  This is the preferred lifestyle living specially for busy young professionals with a fast-paced lifestyle.


OPPORTUNITY FOR RESALE:  This is not much of an issue although both owners of house and condo can anytime re-sale their properties.  In real estate investment, new and second buyers always consider the property’s location, location and location.

LIFETIME:  Condominium is limited only for 25 years on its existence and may be extended for another 25 years by the condo unit owners depending on the condition of the condominium considering therein the safety of the structure and its livability. Hence, once you invest in condominium, it is best to consider who is the developer of the project.