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What You Need to Ask When Buying a New House in the PhilippinesBY: zulieka martirez | Category: Real-Estate | Submitted: 2011-11-22 06:25:26
Purchasing a Real Estate Property in the Philippines or for any country for that matter mandates due diligence by the likely buyer: from scouting for a property to finalizing the sale. Although a broker can help you furnish these documentary specifications, it's always best to know in advance. Here are some basic questions to help you when acquiring a new house and lot:
1. Is your broker/agent recognized by the developer to market their projects?
2. Is your developer trustworthy ? Had they ever had an incomplete project? Do you have friends or know anyone who has bought from this developer and what can they say about their purchases?
3, Are there any tenants in the property? Are their unauthorized squatters? Will you have a complicated time ejecting them? Does the developer know about this and have they made moves towards resolving it?
4. How secure is the area? Are there any security measures or guidelines in place to safeguard against robbers, illegal squatters and the likes?
5. With 2009's Ondoy flooding, howrisk-free is your area from flash floods or landslide(natural calamities)? What has your developer done to address these?
6. Do you know the exact location of the property you are acquiring (this is targeted towards ofws who may depend on relatives to determine for them when buying a property, take extra precaution because you'll never know if block 9 lot 10 is on the edge of ravine!)
7. Does the measurement of the property represent what is written in the technical description and title? Is the measurement accurate?
8. How is the water/electric condition in the area? Do you have clean water? Do you have steady electricity?
9. Are the components used for the house (if buying a house) durable and in agreement with the ones stated on the contract? Or as guaranteed by the developer?
10. What are the rules in the area about the height restrictions for buildings?
So are you still scared of buying a real estate property in the Philippines? After asking these questions to your develop/broker, I'm sure you'll have a pretty good idea if your real estate investment is going to be a success or not. Whether you're a first time home buyer or you're about to make your second or third purchase, these questions are still relevant to your purchasing process.
Along the way, you'll still be bombarded with thoughts and questions - and that's a good sign. It's better to have many questions about real estate than none. Here's hoping your inquiries are answered MORE than adequately!
Article Source: http://www.saching.com/
About Author / Additional Info:
Still confused or scared to make that first real estate investment in the Philippines? Visit http://houses.forsalephilippines.com and we'll assist you in making your first or nth time to make a real estate investment in the Philippines!
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