Purchasing a house and lot is a big dream of every Filipino but achieving your dream home needs equally big efforts. This is a big reason why you must learn the obligation and learn about the vital things, which you must do when it comes to acquiring the right house and lot for sale. The main goal here is to protect the property as well as to secure ownership. So, when you decide to invest in the house and lot, you must choose a trustworthy real estate developer in the Philippines. To do this, it is important to check the details like the performance of the property developer, what they do, and the services they can offer. To keep things real, it is important to select only legitimate and accredited real estate developers.
Nothing can be worse than getting through the tedious job of purchasing a new house and lot and realizing- just as you are planning to move in, the title is fake or is not clean. A dirty property title might have many encumbrances, liens, and mortgages. So, it will make it tough for you to own a property.
But luckily, there are several guidelines available, which will help you to verify or check the titles in the Philippines. Hope they will help you in making a smooth transition of moving into your new property a bit easy.
Now let’s have a look at some of the ways to verify the authenticity of the home title of the property that you want to purchase:
Go to the registry of Deeds and then request for CTC
Check and ensure you receive all the pages of the title. And also check whether the property’s title number and the name of the owner are accurate before visiting the Registry of Deeds. The Registry of Deeds works as the repository of all properties, which don’t only include lots, but also some heavy equipment ranges. Once in RD, you can then request the title’s CTC, which you are planning to buy.
Verify the identity of the seller
The next step is to get copies of the seller’s ID and ensure that the owner’s ID matches the owner of the title. In case the broker/agent is selling the property, then you can also ask the authority to sell the property to ensure whether the person, who has offered the authority to sell the property, is the actual owner of the same.
Check for liens and encumbrances
Find out the certified true copy of the title of the house and lot for sale in Dasmarinas Cavite to find out encumbrances on the same. You can find it at the back of the property title. And there can be different types of encumbrances like:
· Mortgage: This property has been utilized as the collateral by the owner to a loan
· Adverse claim: It is the claim by a third person towards the property.
· Lis Pendens: It is a pending case either involving or against the property.
· Right of way: A portion of the property can’t be developed or closed.
Double-check the technical description of the property title
The next thing you have to check is the shape of the property title is the right shape claimed by the seller. It is better to employ surveyors or geodetic engineers to find out the technical description and actual shape of the property.
Check the tax payment details of the property
Find out whether the present owner of the property is paying yearly property tax. Real property tax must be paid regularly. Otherwise, these taxes would multiply and the buyer will have to pay for it. So, you can visit the office of the City Assessors and get the property’s tax declaration and the certificate of Non-Delinquency.
Check the property’s tax mapping
You must check the property’s shape easily by requesting the Tax Map of the same, which you are planning to buy. You can get it from the tax mapping section of the City Assessor. Although this is not the perfect method for checking the shape of the house and lot, it would help you to save cost in case you are thinking of getting a quick check of the property’s shape.
Check the duplicate copy of the title of the owner
Last but not least, when you meet the property owner/seller, don’t forget to check the original duplicate copy of the title of the owner. So, here you can check the following details:
· Check the texture of the paper along with the special fibers/blots. This is a bit different type of paper compared to the usual. And they can be compared to the checks.
· While holding up the property title against the light, you would find the LRA seal.
Once you follow all these steps, you will know that you have done a lot of things that can really verify the authenticity of the real estate property that you want to purchase.
Choosing a New Real Estate Property is Easier and More Secure in the Market than a Resell
Why go through all the hassle of choosing, buying, and verifying a resell property when you can enjoy the services of a renowned real estate developer offering brand new homes or even lots for sale.
Property developers like Crown Asia Properties, not only offers beautiful thematic homes where the family can enjoy a life of comfort and convenience, it also offers you a stress free and hassle free processing of everything you need for your real estate purchase. You only need to work on the documentations like valid IDs, important documents for the loans, and sign a few developer documents. After this you are good to go! Just wait for the timeline that is promised to you and your are good to go for move in or for having your unit rented out to be a source of passive income!
With a new property purchase you cut out the stress and leg work of going back and forth with the property reseller. You are also guaranteed that the home title is new and free of any legal disputes as all property developers are approved and has undergone all the necessary legal steps to sell.
Start your real estate investing journey in a brand new home with Crown Asia now!
Related Blog: How to Buy a Premium House and Lot for Sale in Cavite
