Business Minded

Transferring of land title in the Philippines could really take a lot of your time, effort, money and of course lots of PATIENCE! I would like to share with you the process that I went through including the expenses I have incurred while transferring the land title under my name. Just to give you a glimpse of the property that I need to transfer under my name. I acquired a 100sqm lot somewhere in Las Piñas 2 years ago for Php800,000 from a seller (Corporation). We executed a Contract to Sell at that time since it is not yet fully paid. In those two years while paying for the lot, I had a small house built on the lot. The seller and I agreed that I will pay this via installment. Seller and I agreed that I will be the one who will pay for Capital Gains Tax (CGT), Notary fee of the Deed of Sale, Documentary stamps tax (DST), Transfer tax, Business tax on sale of real property, and other taxes and fees required to transfer the title under my name. So before you buy a property, be clear on ...