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But despite all the advantages that technology brings, there are still some aspects of the property buying process that can’t be automated—the drafting, checking, and signing of legal documents just a few of them. In order to save time (and your hard-earned money) and to make sure everything that goes with the purchase will be put into writing, it’s better to keep yourself informed on the documents you will need.
Once an ocular inspection of the property has been done and the title of the property has been checked with the Register of Deeds, a letter of intent to purchase a property must be made and sent to the seller. A non-binding document, the Letter of Intent documents the buyer’s tentative terms and conditions in regards to price, reservation fee or initial deposit, and financing details. Also included in a Letter of Intent is the detailed description of the property you are interested in.
If the seller accepts the terms and affixes his signature on the Letter of Intent, the seller is expected to reserve the property for you unless the conditions and terms on the letter have been breached.
An earnest money or down-payment must then be paid, securing your hold on the property within the time frame agreed upon between you and the buyer.
2. Contract to Sell
The Contract to Sell, a document that binds both you and the seller, is where all the final terms and conditions are stated. This will be issued to you by the seller after you have given your down-payment. In this contract, you are assured that the buyer will exclusively sell the property to you and will take it off the market. However, until the full payment for the agreed price of the property has been made, the ownership of the property remains with the seller. The Contract to Sell must be attested by a Notary Public.
3. Deed of Absolute Sale
After you have given the full payment of purchase price to the seller and settled other fees with the proper government agencies, a Deed of Sale will be created, filed with the Register of Deeds, and issued to you. It is a notarized document that legally transfers the ownership of the property from the seller to you after all of the conditions have been met and executed. Indicated in this document are the names and signatures of both parties, the Transfer Certificate of Title number, the technical description of the property, and the agreed selling price.
4. Certificate of TitlesYou will be provided a photocopy of the new title that certifies you as the new owner of the property indicated. This document is issued by the Register of Deeds of the city or municipality where the property is located. A Transfer of Certificate of Title will be given to those who bought houses and lots, while condominium unit buyers will be given a Condominium Certificate of Titles.
5. Tax DeclarationAs the new owner of the property, you will request a Tax Declaration from the Assessor’s office. You will need to present the new title and a photo of the purchased property for it to be processed. Once this has been released under your name as the new owner of the property, all tax obligations will now be under you. Along with the release of the new Tax Declaration is the success of the transaction of property purchase.
If you're ready to purchase your new CONDO HOMES, here's a list of properties for sale that might include your dream condo living lifestyle!
Tuesday, November 15, 2016
Affordable Condo in Quezon City are now Open for Reservations! Deca Homes Commonwealth Available Units: •Studio - ₱1.6M (20.92sqm) SOLD OUT✅...
Urban Deca Homes ORTIGAS
Urban Deca Towers EDSA
√ 43 RESIDENTIAL FLOORS
√ 3rd, 5th, 6th & 8th floor
4th & 7th floor
9th to 45th floor
√ 7 PARKING FLOORS
Basemet. 1 & 2, GF, 3rd, 5th, 6th & 8th floor
√ 12 elevators
√ 100% Back up power supply provided for Common areas, Commercial floors and basement parking
1 ref outlet
CCTV Security System installed at hallways & other common areas
Fire Detection Alarm System (FDAS) installed at GF to 45th floor
While our Tower market generally are those who look for "halfway homes", UDT Cubao -- given its location - targets a young demographic who look for a minimalistic lifestyle that allows them to have a perfect work life balance.
The project targets those who work right across the street in Araneta, Cubao where numerous BPOs are located.
It is also perfect for entrepreneurs who have businesses in Cubao.
Additionally, its proximity to the MRT Cubao station makes it the perfect choice for those who work in Metro Manila's business districts.
For more info, pls. contact: 0991 520 699
In demand CONDO
Convenient and Accessible
Safe and secured community with Perimeter Wall
Perpetual (Lifetime) Ownership
Unit types STUDIO, ONE BEDROOM COMBINED UNITS
Feel Free to send me a Message or kung may mga katanungan po, or referrals and concerns. You may also reach me at my contact details below. Thanks!
CALL OR TEXT
0991 520 36 99
Open po kami sa mga gusto Mag AGENT/BUYER/REFERRAL...
#urbandecahomes #decahomes #ReadyForOccupancy #CondoinTondo #PerpetualOwnership #condoinvestment #condoinManila #NoSPOTdownpayment #MurangCondo #realestate
DISCLAIMER: This presentation is meant for promotional purpose and has no legal value. The plans, specifications and other details herein are only indicative and subject to the approval of the concerned authorities. The developer/owner reserves the right to change any or all of these or extend the number of floors in the interest of the development, without prior notice or obligation. Developer reserves the right to change product features, prices, and terms without prior notice and approval. Floor plans and perspectives depicted are for demonstration purposes only and should not be relied upon as final project plans. Contact us for the most updated project information.
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URBAN DECA TOWERS MANDALUYONG EDSA
Urban Deca Towers Mandaluyong Edsa is providing you easy access to everything that you need.
Its proximity to main business districts and cities make your life extraordinary.
Address: Sierra Madre Avenue. Deca Tower Edsa, Mandaluyong. (along EDSA)
Unit Size: 13.6 sq.m.
Unit per Floor: 28 units
Total Units: 1,148 units
Land Area: 900 sq.m
Total Floor Area: 25,375
- University of Asia and the Pacific
- La Salle Greenhills
- Saint Pedro Poveda College
- University of Makati
- Rizal Technological University
- St. Augustine School of Nursing
- Robinsons Forum
- SM Light Mall
- VRP Medical Center
- Mandaluyong City Medical Center
- St. Luke Medical Center Global City
- Rizal Medical Center
- Acropolis Mandaluyong
- California Garden Square
- Wack Wack Village
- Dasma Village Makati
- Greenhills East
Floor Area: 13.6 sqm
AS IS WHERE IS
Reservation Fee 5K
LIPAT AGAD PROMO 27K
Monthly Amortization 20,729.31