One thing that makes real estate buying in the Philippines so interesting is the diversity of developers and lots available for purchase….. whether it’s residential, commercial, industrial or agricultural or farm lots. The choice is yours …is it for your own use as a future residence, office, business, or haven for mangrove.

In buying real estate properties in the Philippines, please remember the following:

1. Deal only with a licensed real estate broker who will have the authority to sell. With utmost honesty and integrity, a licensed broker will be familiar with the properties which he undertakes to sell. He has a working knowledge of land economics, real estate market, legal provision affecting real estate, reading ordinary maps and plans, financing practices in real estate transactions, basic features of land and building construction and the working knowledge of government offices concerned in real estate.

2. Buy properties developed by a reputable company, experienced in real estate development and with very strong financial position. You should look at the people behind the company and the properties they have built. This is an assurance that the property will be turned-over after a definite period of time as stated in the contract (after you made your last payment if you got it on installment).

I was a victim myself when I bought a townhouse in Baguio from an unknown developer. It was on installment payable in four years without any interest. It was clearly stated in the contract that the property will be awarded within 60 days after completion of the last payment. The property was 70% finished when the last payment was made in July 2006 just in time for the developer to request for corporate rehabilitation. To date, the case is still under the jurisdiction of the court with nothing on sight on when said property would be finished and awarded to me.

3. Location is also one factor, you should consider when buying a property for investment since you would always want an area with a good appreciation rate. A good appreciation rate is 20% per annum so that the value of the property will be doubled in 5 years time. This is if you are considering the property for investment. One of the better properties in terms of investment in the Philippines is in the big business districts such as Bonifacio Global City.

4. The value of the property is determined by dividing the net operating income (NOI) by market capitalization rate so you should consider this factor when buying existing properties. The net operating income is the sum of money you will earn from a property, say by leasing it, less all expenses. The capitalization rate is the net operating income divided by the purchase price of the property.

5. When buying big existing properties, you also need consult a real estate assessor in order to determine the price at which the real estate properties will likely sell in a competitive market.

6. Always beware of fake titles. Copy of the Transfer Certificate of Title preferably certified by the Register of Deeds in the municipality where the property is located. If you’re buying from Las Piñas, then visit the city hall and it will most likely be there. It should be valid and without any defects. It should be free from any liens or encumbrances and annotations. Together with the TCT, the lot plan prepared by the licensed Geodetic Engineer and verified by the Department of Natural Resources (DENR) as well as the copy of tax declaration.

7. Be on the look out for amenities or features such as clubhouse with function halls, fitness gym, swimming pool, children play are, basketball court, badminton and tennis courts and convenience store, wide roads, 24-hr security, fence, electricity and water supply, shuttle service, where the properties are located if it is within a subdivision. Some subdivisions have their churches, schools, stores outside of the church so as to allow more privacy for the residents.

8. Deal only with reputable banking and financial institutions if you intend to borrow money to finance your purchase of properties. Be sure you get the best rate of interest and payment terms.

9. Make an actual site inspection of the property to remove any doubt you may have or get encouraged by the development undertaken in a particular area.

10. Foreigners are not allowed to buy properties here in the Philippines – except for condominium units which are plenty in the city.

Again, deal with a licensed Philippines real estate broker if you desire to resell the property after some time.

Ven Santos writes about Houses for Sale in the Philippines, as well as other articles about Philippines Real Estate Properties.

Article Source: eZineArticles

The real estate business in the Philippines has recently been gaining popularity with several real estate companies developing their own sites in several parts of the country, including the non-metropolitan areas. Prices of real estate properties are relatively low when compared to those located in the United States. This makes investments in the Philippines attractive because their values are expected to appreciate in years to come.

People who want to make an investment in the country or make profits by selling a real estate property can manually contact real estate brokers for the packages they offer. However, the easiest and most practical way to locate brokers or agents is by searching for them in the Internet. There are already several online real estate marketers available in the Philippines.

Online real estate Philippine marketers promote their sites that include real estate listings and brokerages to international search engines. This makes their coverage wider and as such, heightens the possibility of getting closed deals quickly.

If a person plans to sell real estate property located in the Philippines, online real estate marketers can act as their brokers. They will be the ones to look for potential buyers and explain to them the initial policies and terms of the offer. The investor can also use their site to promote additional real estate items they want to sell.

For people who want to buy real estate property in the Philippines, online marketers also provide real estate listings that come from brokers in several parts of the country. Because it may be very difficulty to scan through the available properties for sale, some marketers have developed a system to filter out the choices. A leading marketer has set up a buyer’s wizard that helps buyers narrow down the choices by their budget, preferred location and size. Once a selection has been made, the buyers submit the online form. The broker of the selected property will be contacted by the online marketer for a detailed discussion of the real estate package.

With the online marketing trend in place, real estate in the Philippines can be expected to register more profits in the coming years.

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Article Source: eZineArticles