Suggestion Buying Property (What is Realistic?)

Ahh sorry misunderstood your post, I balked at 2000 per square meter here despite it being right beside the Highway and being assured it was a fair asking price by several, but searching online in the last link I posted it seems many are asking dreamer prices then...

Sorry maybe the wrong use of words, I meant that there were no dreamer ads asking 20+Million php etc like in the last link I posted, eg; the prices asked below... Your Ads here on DI are realistically priced IMHO...

Beachfront Properties for Sale in Negros Oriental | DumagueteProperties.com

 

I was looking for a beach lot with about 1000sqm and for an average sqm price 3-4000 pesos which was realistic in 2014 and I found nothing for my budget in 1 year, except for really big lots 1 hectar +, they are cheaper sometimes than 3000 pesos but the final ammount (20 mio +) did not fit for my budget. the few lots in my price range were always problem properties; means no title or no road right of way. if you ever get a good offer, check it 100 times, there are a lot of traps here. also check always the neighbourhood. finding a lot 5000 + is not impossible, but it needs time and good connections, specially to locals. some people say that the area is still underestimated and prices will still rise, that might be true if the infrastructure wil be developed. at least, I saw really beautiful beach properties with less than 1000 sqm getting sold for 10 mio +, asking the local broker about this, he said: sometimes crazy foreigner are coming...guess he is right. that explains the horrible high asking prices for many of the properties. as I know, 80% of the filipinos owning a beach lot are willing to sell, but only if the price is alright - for them. because they don't need to sell.

 

When locals get a foreigner interested in land (it's never their land, but a cousin's, or aunt's, etc.), the price is always jacked sky high. All foreigners are by Filipino-definition: "Rich beyond comprehension."

We are looking at acreage in Valencia that doesn't even touch a road and they are asking 400 (long-nose price.) The auntie of the owner has the property that would provide a right-of-way, and she wants 500 just because her property touches the road, and she thinks we have no choice. The typical price in that barangay is 100 to 200.

The real difficulty is that you absolutely have to be able to walk away if they won't sell for what you are willing to pay. But keep the offer on the table while you look around some more. Often a lot is owned by several heirs, and walking away might push up the tribal pressure to get the money NOW. Someone in the family likely needs the cash, or soon will. Be patient, and keep looking around.

 

The Sister In-law (Filipina) bought 100m2 well off the highway in Bacong, the owner is selling 100m2 lots for 40,000php and apparently has already sold many lots to date at 400 per m2. MANY relatives want to buy her lot as she has decided to buy in Manila, but they can only pay installments on it, so as far as I know she has been unable to sell so far, she is now asking 45K for it because she paid for a Survey to be done, but the lot only has a Deed of Sale which IMHO makes it worthless without a Clear Title...

Two years ago when Papa worked up behind Valencia his then Boss was selling 3.6 Hectare lots for 300,000php which I think I should have bought instead of the 2000m2 here in Malatapay... I could have bought three lots there for less than what I paid here. "Live & Learn"

 

Ain't that the truth of living here

 

Got an offer for 200 sqm at Bindoy for surprising low price of only 10,000 PHP. Problem here is that the title is missing.

And Bindoy is too far away for me from a city or better municipality.

 

And without a title it isn't worth 10 pesos...

 

As the stuff I heard is it a part of a much bigger lot and will be cut off from that lot. Then the part needs to be titled.

 

This is my problem, despite what we were told by the seller, we have found out that a slight embellishment here can cost BIG! But the law is the law, so...
The lot we bought is a part of a larger lot that will be split into 4 lots.
We have discovered that on top of our purchase, we will need to pay approximately 250,000php to cover legals, transfer fees, taxes etc for our part to gain a clear title.
The seller has no money, so cannot afford to pay approximately 150,000php to transfer the original title into the name of the heir and do a prejudicial agreement, to pay BIR/ Land etc taxes as well as their legal fees etc (guess who will be paying that haisst!)
Then we had to negotiate with the neighbours to gain ''Right of Way'', so add another 20,000php (which is likely to climb come the day to sign on the line)
THANKFULLY I forced their hand early before paying for the second part of the lot, so will be deducting ALL of their obligation costings from the purchase of the said second lot, a small win, but what was originally a 800,000php lot plus 200k (long nose tax) plus approximately 450,000php in legals etc was a steep learning curve and one I WARN everyone I meet now who is considering buying land here... Buyer BEWARE!