For many it is the ultimate dream to own their own place at there vacation-destination.
For many it also becomes a nightmare.
Even we can find some information on this topic on other threads in this forum it might be a good idee to bring together some experiences or advices of our forummembers.
First of all be very very carefull in dealing with real estate.
Espesialy in buying a property there is a lot of money involved so you better think it over more than twice before taking a desision.
Buying property in the Philippines is quiet different from some western country's.
In Belgium for instance you let the whole procedure to be done by a notary without thinking that something can go wrong, in the Philippines you have to think all the time that something can go wrong.
Is this an advice not to start in the first place? No, there are some advantages and those of us who are now the proud owner of a well documented property will tell you the same.
Bear in mind that as a foreigner you cannot buy some land directly in your name, but there are "backdoors', a corporation for instance but there are more posibility's
As a foreigner you can fully own a condominium under certain circumstances but in Dumaguete there are not that many condominium for sale anyway.
I guess this is a topic mostly for "longnose" and i apologise in advance to our Philippino members and readers but i'm sure that everybody can learn something sooner or later if enough people are willing to share their experiences or give some advice to inocent candidate buyers.
Like x 2
