How to Recognize Problems When Buying a Property

Anyone who’s looking to buy a property in the Philippines must know the potential problems they may encounter, especially for beginners. A clean title is the number one proof that you are buying from a trusted seller and that the property has no liens and encumbrances. Now, we’re giving you a checklist before you decide to purchase a new house, condo, or any real estate property in the country.

What to Do to Avoid Problematic Properties

The main question is how do you know if there’s a problem with the real estate you are purchasing? To help you weigh in and make an informed decision, here are three things to consider before buying a property:

Get a certified true copy of the title from the Registry of Deeds. You can request a copy from the seller himself, but sometimes they remove the last part of the title which is the encumbrances. If they want to conceal something, the buyer won’t notice the problem right away. However, if you ask for a copy from the Registry of Deeds, you will see if the property is mortgaged, and has liens, levies, and other pending cases. If there are matters in the encumbrances that you don’t understand, it’s always helpful to consult a lawyer or real estate broker. These are the experts that can make things easier for you when deciding to buy a property.

Request for a copy of the Certificate of Non-delinquency from the Treasurer’s office. This document will prove that the property you are buying has no financial obligations when it comes to its real property tax or amilyar.

Secure a copy of the Homeowner’s Association Certificate. This is often issued by the subdivision admin or condominium building admin to certify that the property has no pending cases or liens with the HOA such as condo fees.

You see, buying a property is more than securing a clean title. There are so many factors to consider when it comes to the legalities of buying real estate in the Philippines. Make sure to keep these tips in mind so that you can make an informed buying decision before you make a downpayment or pay the amount in full.

Additional Home Buying Tips to Remember

It’s common to have some worries when dealing with real estate transactions in the Philippines because of many possible problems that may arise. So make sure to deal only with the rightful owner of the property whose name appears on an authentic title. It’s also highly recommended to avoid Special Power of Attorney documents and instead talk to the actual seller to settle everything before sealing the deal.

A licensed surveyor can also help you identify the property being sold through the title provided. A relocation survey may be conducted to ensure everything is “clean”. More importantly, consult a reliable real estate broker in your area to give you sound advice before buying any property.