Local land prices, are they crazy?

Yes I can see this But and there is always a but seller has no money to buy new property and in all and intents and purposes buyer has a property not fully paid for, Just seems illogical to me, What if the Buyer wants to move in while all this silliness is going on and the seller loses his next purchase because of with holding of Money? to me, you sell something you get the Money and if we buy something we have to pay to get it. Much works needs to be done on this Mortgage issue methinks.

 

If Abu Sayyaf as in the Negros Chronicle article is looking for foreigners, I would expect that to be the pin that pricks the bubble.

 

If you are legally married any title deed will be in both names, the only stipulation being the Filipino name must be first followed by yours, and should the Filipino die then you become the legal owner of the land, the only way a foreigner can own land in the Philippines. Any attorney worth his salt knows this and should submit documents to the registrar shown the Filipino name married to the foreigner.

 

This reminds me of what I had overheard when I was at Tokyo Phil Embassy the other day. A guy possibly working for a lawyer was trying to convince a married Filipino to buy property in the Phils using widow as her status so that her Japanese husband will have no claims in the future.

 

True. I should have said that I didn't see it as an advice but just a typical scene outside Philippine government offices where you find all sorts of swindlers. I assumed that everybody thinks falsification of public documents is a stupid thing to do.
I should have added that she wouldn't need her husband's signature if she wanted to sell the property according to the guy.

 

I suggest you check with Zoning (section/department whatever they call it) at the municipality to check if the land you're purchasing suits your needs, for example, the land may look like or stated in the title as agricultural but if it belongs to the industrial zone, you might go through difficulties securing a Noreco permit if you want to build pig pens. However, if you get the permit for the house first, and then later build a "backyard piggery", that might be easier.

 

You may be right here but If your land was or is Agricultural, you will need a DAR (Department of Agriculture Reform) Easement to build anything. This is then put to the BIR for Zoning, It can cost some but.................. better safe than Sorry, We have 2 Houses in our Barangay that must come down as the owner did not follow Advice and a demolish Order was issued, as always, Buyer beware of the land you try to Buy