Real estate investing is one of the most lucrative and viable investment opportunities where investors can potentially earn good returns. However, before taking the plunge, it is important to consider the legal system in real estate Philippines to ensure that you are compliant with the law.
In this article, here are tips on how you can maneuver through the legal considerations to make wise real estate investments in the amazing cities of Visayas and Mindanao.
Understanding the legal system in real estate Philippines
Let's take a look at some of the most important laws you should be familiar with. To ensure that your real estate investments are secure and legitimate.
The Civil Code
This is one of the most fundamental codes that govern real estate transactions in the country. It states the rules and regulations with respect to house and lot for sale land titles, contracts, and obligations related to real estate investing.
So when buying a property, it is essential to make sure that all documents are in order and the seller has a clear title over the land.
You can hire a legal representative to help you examine all documentation related to the land with due diligence. Our experts can help you walk through this process and provide the best advice for your investments!
Here’s a simple list of the documents related to the legal system of real estate Philippines.
Contract of Sale
Make sure that you are provided with a contract of sale that outlines all details related to the purchase including the property description, payment plan, completion date, and more.
Deed of sale
The deed of sale will also be prepared and filed with the Registry of Deeds as a formal record of your ownership.
Taxes and fees
The Bureau of Internal Revenue (BIR) requires that Real Estate investors pay taxes and fees on their investments. We will ensure that all applicable taxes, fees, and documents are properly completed and filed with the BIR.
The national building code
This code covers all aspects of planning, construction, and occupancy of buildings in the Philippines. It lists down certain standards that must be adhered to when developing real estate projects such as residential dwellings and industrial factories.
Transfer of Ownership
So you've visited your prospective new home with Johndorf Ventures? Finalize the necessary legal documents, and paid the taxes, what's next? Transfer of ownership. Make sure that your new title is transferred to you legally and without any hassle!
Investing in the right real estate
Real estate is one of the most lucrative and viable investment opportunities to create a secure financial future. Ultimately, you need to follow all the legal considerations above to ensure that your investments are without any legal issues.
Johndorf Ventures is here to make sure that your real estate investments are secure, legitimate, and compliant with the legal system in real estate Philippines so you can build the future you deserve!
Reserve a property at Johndorf now and enjoy days of relaxation by clicking this link.
| MORE UPDATES |
The Top 2024 Real Estate Trends In The Philippines To Watch Out For
Here is a quick rundown of the 2024 Philippines real estate trends that you should watch out for if .......
Read More
Homebound: Your Perfect Retirement in Plumera Mactan
The time has come for you to return to the arms of a place that feels like a warm embrace of home. P.......
Read More
Why You Should Consider Cebu City Real Estate Development
As the second largest city in the Philippines, is one of the most promising places in the country wh.......
Read More
Decoding Property Taxes in the Philippines: A Guide for OFWs
Property taxes in the Philippines pose a captivating challenge for both veteran real estate owners a.......
Read More
Healthy Living in Villa Castena: Fitness and Wellness Options
We focus on fitness and wellness in Villa Castena at Iligan City, Lanao del Norte—a project under .......
Read More
Iligan City's Digital Transformation: Connectivity and Tech Advancements
Technology in Iligan propels it even further into the future. With digital nomads thriving today, ma.......
Read More
Rent to Own vs. Buying: Making the Right Real Estate Choice as an OFW
If you’re considering buying your very first home, what is the best choice between renting vs. buy.......
Read More
Transportation and Infrastructure Development in Iligan City
The continuous development in Iligan City makes it an increasingly attractive destination for Overse.......
Read More
The Ultimate Guide to Misamis Oriental Real Estate
If youre thinking about buying a house for sale in Misamis Oriental and want to know more, this guid.......
Read More
Invest in Your Future: Financial Benefits in Tierra Nava Opol
When you invest in one of our housing development projects, you’ll be able to build wealth and rea.......
Read More