Lessons Learned

PatO · 1 nov 2014

Rumors are you could have a guy resolve this for about 10k pesos...

hawk263 · 1 nov 2014

jackpeterson zei: ↑

OH!You surprise me here, I thought you could not lease back from your Wife? Well we live and Learn!

or did she own the land in here Maiden name.
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You're right - the leases were enacted before we married.

ShawnM · 29 nov 2014

I do not know all the rules for ownership here but do enjoy reading what folks have to say.

In most of our home countries, the wife will get the house and we will have to pay the mortgage when things go south. Obviously worst case scenario if the love of your life bails on you.

I personally have no problem with things being in the wife's name, actually prefer it.

This is an unique country, I could write a book on a some of the interesting things but I think most expats that have spent time here have seen most of the same.

Shawn

quicktrip · 29 nov 2014

Cletus zei: ↑

My bride and I just bought a lot, we have been looking for several years, yes years. The first issue we found was using a real estate agent is that the agent will increase the asking price of the property above what the property owner is actually expecting. That is one reason some of the real estate here is priced very high.

We started looking on our own and made an offer on one lot which was accepted. The seller was not sure where the property boundaries were so we hired a surveyor for 10,000 pesos, found out later it should have been 5,000.. We took what info we had to the seller's attorney, a very nice older man. The seller, a woman, also brought three of her siblings to the attorney's office where everyone then found out that this lady had sold the property to an Aussie a couple years prior. We lost our 10,000 pesos, which was cheap to get out of that deal, the seller was not so fortunate. Her siblings were totally unaware that she had sold the property and they were pissed as their sister had taken their money.

We have made offers on other property that was not accepted, we were not low balling either, just offering what we felt the property was worth.

Then we had an experience with a foreigner that still has a lot for sale, the only thing is when he gets someone that is interested he raises his price above what he had advertised. The ugly part is; he doesn't own the land, he has a lease but that still has not stopped him from attempting to sell it to some poor soul.

We finally found a lot that we like that is worth the money, has a good title and most of all has what we have been looking for. Even with good honest sellers there are still some wrinkles to iron out on the title along with capital gains taxes.

#1 -- Have a good attorney, Take the appropriate paper work to the attorney for their perusal then follow their advice.

#2 -- Ask for the title and sketch plan, (survey)

#3 -- Ask for tax payment records.

#4 -- Avoid real estate agents

#5 -- Find a good honest person that will look for property for you. Pay them as they bring you properties, not a lot but don't be cheap either. We have met some very nice people like this.

Do not spend a dime on anything except your attorney until you have all of these items. (first hand experience here.)
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alex · 29 nov 2014

lol pato you could settle it like but get ready to leave town before the revenge factor kicks in

Aanmelden

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Lessons Learned

PatO DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Marines

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ShawnM Living the dream, Plan B ★ No Ads ★ Highly Rated Poster Showcase Reviewer Blood Donor Veteran Air Force

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