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MY FIRST LAND TITLE - OWNER PROPERTY COMPANY - TRUSTWORTHY?

Discussion in 'Property Development' started by tuba-coma, Feb 17, 2015.

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  1. tuba-coma

    tuba-coma DI Forum Adept Restricted Account Showcase Reviewer

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    after several start-ups, i a m holdíng today my first copy of the famous land-title in my hand. owner is shown as a property company in cebu. my contact here are family members, the original owner (= owner of the property company?) is actually abroad in america and would come back here for the transaction. trustworthy? does it smell fishy?
     
    tuba-coma, Feb 17, 2015
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  2. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    I wouldn't do anything without speaking to the property owner in person....and they better have at least 2 proper forms of government issued photo ID to prove they are who they say they are....and I would need them to provide me with 2 photocopies of each ID. I would want to see at least a drivers license and a passport (shouldn't be a problem for a Filipino currently overseas), none of this birth certificate nonsense. If they can't provide those things then there is no way I would trust them with signing over property. Never trust anyone selling property for someone else. My 2 cents.
     
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    Rye83, Feb 17, 2015
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  3. OP
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    tuba-coma

    tuba-coma DI Forum Adept Restricted Account Showcase Reviewer

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    thx for advice....i will only deal with the original owner, proving to be the real and only owner of the property company that is registered in the land title. as i expected, it is complicated, as long the "owner" is in america. my wallet is still sealed, so or so :cool:
     
    tuba-coma, Feb 17, 2015
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  4. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    I have heard of property titles being faked as well. You should find someone to verify that they are the real and only owners, someone should also do a survey to prove that the land title is accurate and they are showing you the title to the correct property. I'm certainly no expert on purchasing land (I've never owned a plot before in my life). I'm sure some of the other members will chime in with their experiences and advice.
     
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    Rye83, Feb 17, 2015
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  5. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Because of the Anti- Dummy laws in the PI it may well mean that No! One person, has the Authority to sell the Land. Property Companies are usually Corporations and therefore may need a Majority stake holder vote to sell, It could also be a Husband and Wife Company and it may need both to sign. For me, take a Trip to the land Registration and do a count back of Exactly who this Property Company are and the Share Holders Involved.
    I would be very Curious as to why they want to sell? maybe it is for the Very reason you asked on another Thread, THEY can't Build (For some reason)
    Well if they can't, can you? NO? Walk away would be my Answer,

    But your Lawyer should be doing all this, that is why we use lawyers.

    We have a saying here, "Buyer beware" Beach Front Properties are a Prime Site, I have to ask myself again, Why would and Established Property Company want to sell? Please don't be a Statistic here and fall for the OH! we can unload this, he is a Foreigner,

    JMHO here.

    JP :bag:
     
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    Jack Peterson, Feb 18, 2015
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  6. OP
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    tuba-coma

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    thx guys...i will take a visit at the registration office...i always love to stay in these offices f.e. the immigration in duma, feels like in a collection point for wastepaper :-) but almost friendly staff ...
     
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    tuba-coma, Feb 18, 2015
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  7. OP
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    tuba-coma

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    small update about the adventure buying property here.
    it is one beach lot, and 2 parties of one family try to sell it to me now. also the title shows a company as owner, company owner in canada, spa in manila. hundreds of emails, phone calls, it's amazing. both parties claim the right for selling for themselves.
    two different prices, 3 million from one side for 1000sqm, the others want to sell 1000sqm + 500sqm beach / shoreline, pretending to have a title on the beach lot, but they not showed it. as far as i know, it is owned by the government, you can only lease it. means the family wants me to pay 1,5 million for beachland that they not own. very funny.
    last info: there is no right of way, it's not a barangay road. but they call it a Camino Vicinal road = cannot be closed cz it is there for long time.
    actually, i am just smiling and waiting what happens next, i asked for the papers, lets see who is showing what next.
     
    tuba-coma, Feb 20, 2015
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  8. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    For me My Friend, I would be walking away, well riding away along that beach


    [​IMG]

    It is like I said, No one (1) person can sell that land to you and as you see Too many fingers in the Pie.:facepalm:

    JP:bag:
     
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    Jack Peterson, Feb 20, 2015
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  9. jimeve

    jimeve DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Army

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    I wouldn't touch that lot with a long bamboo stick. My advise is to look else where
     
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    jimeve, Feb 20, 2015
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  10. DELETED-shotshapers

    DELETED-shotshapers Guest Guest User

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    stay well away my friend ! well away!

    my wife has a bit of property (divided a milion times) cousins in Bohol, uncle in Mindanao ...blah de blah

    its worth 2 million pesos............and they have (not me), spent 400,000 in surveys, finding land titles, chasing down the "Broker", and this is land they own, by the time its sorted the 2 million will be paid over in surveyors, registers and lawyers fees

    when buying or thinking of buying, only and when all the documents and surveys have been printed, signed off on and the land is only in one owners name, someone who is alive and living in the phils, and to finish NOT a lawyer recommended by the seller

    bantay bantay bantay
     
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    DELETED-shotshapers, Feb 20, 2015
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