Real Estate of Cebu

The leading Real Estate of Cebu Philippines, where individuals can search to and compare.

Monthly Archives: July 2011

Beach Lot Mactan For Sale

Mactan Beach Resort is approximately 250 meters away from national road with the right of way and located at Sitio Lupa, Punta Engaño.

more about Beach Lot Mactan For Sale

Suba Lot For Sale

This 500 sqm lot is located at Suba Basbas, Marigondon, Lapu-lapu City

info about Lot For Sale at Suba Basbas

Mactan Beach Lot For Sale

The beach lot is located along the main road of Punta Engaño with approximately 20 to 30 meters wide and near AmiSa Mactan condominium.

more info about Mactan Beach Lot For Sale

Mactan Beach Resort For Sale

Mactan Beach Resort is approximately 250 meters away from national road with the right of way and located at Sitio Lupa, Punta Engaño.

more about Mactan Beach Resort For Sale

Mactan Lot For Sale

Free to explore the listings of Mactan,  Lapu-lapu lots for sale.

Taxes, Commission and Registration

Guide when Buying Real Estate in the Philippines

This is the standard sharing of expenses between the buyer and the seller when transferring the real estate property title (TCT – Transfer Certificate of Title or CCT – Condominium Certificate of Title) to a new owner:

The SELLER pays for the:

  • Capital Gains Tax equivalent to 6% of the selling price on the Deed of Sale or the zonal value, whichever is higher. (Withholding Tax if the seller is a corporation)
  • Unpaid real estate taxes due (if any).
  • Agent / Broker’s commission.

The BUYER pays for the cost of Registration:

  • Documentary Stamp Tax – 1.5% of the selling price or zonal value or fair market value, which ever is higher.
  • Transfer Tax – 0.5% of the selling price, or zonal value or fair market value, which ever is higher.
  • Registration Fee – 0.25% of the selling price, or zonal value or fair market value, which ever is higher.
  • Incidental and miscellaneous expenses incurred during the registration process.

The above sharing of expenses is the standard practice in the Philippines. However, buyers and sellers can mutually agree on other terms as long as it is done during the negotiation period (before the signing of the “Deed of Sale”).

The “Deed of Sale” or “Deed of Absolute Sale” is the document showing legal transfer of real estate property ownership. The deed of sale is then taken to the Registry of Deeds to be officially recorded after paying the documentary stamp, transfer tax and registration fees. Always verify from the Registry of Deeds the authenticity of a Transfer Certificate of Title before buying a property. If the seller only has a tax declaration, be extra cautious and check with neighbours, the Barangay captain or anyone in the know in the community to verify the seller/owner’s true identity and the property’s history.

Your Agent / Broker will usually do the registration process (sometimes for a fee). However, all government taxes, transfer fees and incidental or miscellaneous expenses will be shouldered by the buyer.

Documents needed when transferring the title (TCT or CCT) to the new owner:

  • Certified true copy of the title
  • Notarized copies of the Deed of Sale
  • Latest tax declaration of the property
  • Certificate from the Bureau of Internal Revenue that the capital gains tax and documentary stamps have been paid
  • Receipt of payment of the transfer tax and registration fees

An adapted form of the “Torrens” system of land registration is used in the Philippines. The system was adapted to assure a buyer that if he buys a land covered by an Original Certificate of Title (OCT) or the Transfer Certificate of Title (TCT) issued by the Registry of Deeds, the same will be absolute, indefeasible and imprescriptible.

Beach Lot Mactan For Sale

Mactan Beach Resort is approximately 250 meters away from national road with the right of way with 6,272 square meter and located at Sitio Lupa, Punta Engaño.

more about Beach Lot Mactan For Sale

Deca Homes Requirements

Requirements for Deca Homes Mactan

For CTS Gold
1. 2 pcs. Valid ID (Photocopy)
2. 4 pcs. (1×1 pictures)
3. Pays Php 5,000.00 reservation fee
4. Birth Certificate (if Single) / Marriage Contract (if Married)
5. Proof of Billing address (water,light and mails)
6. Proof of Pag-IBIG membership
7. Residence Certificate (Community Tax)
8. Checking account; required 28 Postdated Checks with signature only
9. Latest 1-month Pay slip/or proof of other income and/or assets
10. Required seminar every Wednesday 4-6PM; Saturday 1-3PM at 8990 Office

For Overseas Foreign Workers (OFW)
1. Requirements 1-8
2. Job Contract & Passport.
3. Special Power of Attorney (SPA)

For Self Employed/Professional
1. Requirements 2-8 if applicable
2. PRC ID and PTR
3. Latest ITR with Financial Statements
4. Business Permit, DTI and SEC

more info about Deca Homes Mactan

Deca Homes 5 Elevation

Base on Google Earth data, Deca Homes 5 elevation is from 11ft to 15ft above sea level. more info on Deca Homes Mactan

Deca Homes 4 Elevation

Base on Google Earth data, Deca Homes 4 elevation is from 17ft to 37ft above sea level. more info on Deca Homes 4