8 STEPS IN PROPERTY REGISTRATION OF REAL ESTATE BROKERAGE SALES ( From Individual Owner to new Buyer)

STEP 1: Secure an Authority from the buyer:

 

STEP 2: Prepare the following documents:

1. Deed of Absolute Sale (duly notarized)

2. Deed of Restriction ( for Property within a subdivision)

3. Original Transfer Certificate of Registration

4. Original Tax Declaration

5. Vicinity Map

6. TIN & Passport or Com. Tax Certificate of the Buyer/Seller

 

STEP 3: Secure a Certified True Copy of the TCT at the Registry of Deeds

 

STEP 4: Secure the following documents at the Assessor’s Office:

1. Certified True copy of the Tax Declaration

2. Certificate of No Improvements

3. Tax Clearance (requirement for Registry of Deeds)

Protect your Real Estate Investment.

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STEP 5: Submit to the BIR all the necessary documents in 3 copies (1 orig. & 2 photo copies including receipts) except the Tax Clearance.

1. Secure the Assessment Sheet from the Officer of the Day or Examiner for the amount of taxes to be paid.

 

2. Prepare the payment of Taxes ( BIR Form 1706 for CGT), BIR Form 2000 for Documentary Stamp Tax for the buyer.

 

3. Proceed to the Updating Officer to verify the TIN of the Buyer and Seller, if the TIN is updated.

 

4. Proceed to the Bank for payment of the CGT & Doc. Stamp Tax.

 

5. Submit to BIR the validated BIR Form 1706 and BIR Form 2000 or receipts if any.

 

6. Wait for the release of the CAR (Certificate Authorizing Registration)

 

STEP 6: Proceed to Land Tax Division for payment of Transfer Tax (0.5%)

1. Submit photo copy of the Deed of Sale and Tax Declaration

2. Pay the Transfer Tax (.5%)

 

STEP 7: Proceed to the Registry of Deeds for Registration.

1. Submit the CAR (2 copies)

2. Deed of Sale and Deed of Restriction

3. Tax Clearance (2 copies including receipts)

4. Original Transfer Certificate of Title

5. Submit the Photo Copy of the validated BIR form 1706 / 2000.

6. Pay the Registration fees.

7. Wait for the release of Title.

 

NOTE:      Keep the Claim no. for follow-up and present a valid ID in claiming the title.

 

STEP 8: Proceed to the Assessors Office for the issuance of the New Tax Declaration.

1. Submit the old Tax Declaration.

2. Photo copy of the New Title.

3. Photo copy of the Deed of Sale.

 

STEP 9: Turn over the TCT and Tax Declaration to the BUYER.

SECRETS Reveal in Property Investment Success

HAVE YOU BEEN TO CEBU CITY LATELY? If you have noticed, high rise buildings are sprouting everywhere. As a licensed Broker, i get invited at least once every month for a project launching. So just imagine at least 12 new projects within a year for us to offer. hmmmmmm.....It means good business.

Most of our buyers nowadays are getting younger.  As young as 22 years old my client started her first condominium investment. The purpose usually of our buyers for buying a condo unit is for rental business. Here are 2 things we consider when we offer a condo project to our buyer/investors:

1. LOCATION is very important to consider when buying a condo unit for lease. The location of your unit must be accessible to public transportation and must be near to offices, Malls, Schools and BPO companies to increase chances of having your unit rented immediately

2. PROPERTY MANAGEMENT is also very important because if the condominium building where your unit is located is well kept, your unit will easily be rented. Moreover your unit will appreciate its value through the years.

For your Real Estate Investment in Cebu....

BE SAFE. Deal only with PRC licensed Real Estate Broker.

Check this out...https://www.cebubai.com/contact-us/