The Art of Selling Your Property

Among the most difficult decision ever to be made by a property owner is that of selling one's own property. If it were you, there are several factors that you must consider.
First would be, the necessity of really selling it. More often than not, there is a sentimental value attached to the property and you would definitely find it difficult to let go of it. The memories and shared lives will become fresh and vivid once again. But of course, emotions are respected and no matter how significant those memories were, the time has come for you to sell. This decision is being made because it is beneficial and necessary given the prevailing circumstances. Today is the right time, for tomorrow, such opportunity may no longer be there. Unless you want to build a museum on it, or you have an alternative to what you are deciding on now, then keep it. Otherwise, be more prudent. Sell it.
Second, the price must be right and to the right buyer. As the saying goes, opportunity knocks once. Yes, indeed. But such opportunity must be yours and not the opportunity for others to take advantage of you. Sometimes, people succumb to what we may call, a decision made out of desperation. This is either because money is needed urgently and there seems to be no other way but to sell the property oven if it would been giving it away at a rock bottom price, or maybe one would want to get out of a situation involving the property, and selling it would be the easiest way out. Consequently, you get to meet buyers and brokers that are indifferent to your plight except that grabbing your property at a give away price is for them, an opportunity of a lifetime, and a desperate move on your part. The remedy here is to have your property appraised, and get a professional and honest broker who will really represent your interest. Being able to sell at the right price and to the right buyer is the key to giving justice to the cherished memories in that property.
Third, surround yourself with competent and qualified professionals who can help you get the most out of your transaction. You will need an appraiser to ascertain how much your property is based on the current market value. A broker can help you sell the property, look for buyers and make sure that you will get the best price do your property. The lawyer can draft, prepare and finalized legal documents. He can advise you on matters affecting the sale of the property. You may also need the expertise of a surveyor if only to insure that the description of the property is correct and accurate.
Fourth, above all, pray. Remember, that nothing is impossible with God. As long as you do what you have to do for His Honor and Glory, you will reap success.
By way of summary, the art of selling your property consists of making a learned decision that you will not regret the moment it is no longer yours. Such art must go through the following process:
a. The need to sell the property is a decision reached objectively without emotions.
b. The price must be close or just about the same with that of its appraised value.
c. The buyer is serious, legitimate, and willing to pay cash or enter into arrangements backed up by a bank or other financing institutions.
d. Seek professional help.
e. Pray for Divine guidance and blessings.

St. Pedro Calungsod, Pray for us !

A Personal Reflection
Once again, for the second time in my lifetime, together with my wife and children, the second Filipino Saint was canonized. We deem it a blessing to have witnessed several Catholic milestones particularly those involving the Philippines.  In all those, we have experienced the love and generosity of God. His healing power is just so enormous and the blessings continuously showered are truly manifestations of His Omnipotence and Greatness. So today, as one family, we are witnesses once again to the goodness of God on the occasion of the canonization of San Pedro Calungsod. He is a patron saint of all but particularly the youth, missionaries, catechists, sacristans, and even the OFWs. His martyrdom was all about his determination, willingness and courage to defend the Catholic Faith with his own life. More importantly, in our world today, when the Catholic Church is being attacked, and priests being maligned, physically and verbally attacked, or murdered, the exemplary and sacred courage of San Pedro Calungsod is something that should be imbued in every faithful.
San Pedro Calungsod, pray for us !

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Mabuhay!

Today, we have all reasons to celebrate.

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What are the requirements to get a Certified True Copy/Certification/Verification?

Requirements: 

1. Letter of Request or Transaction Application Form (TAF).

2. Photocopy of Title.

3. Identification Card

How to Register: 

1. Approach the Registration Information Officer (RIO) to check if you have the complete documentary required for your transaction. Complete the TAF 

2. Submit complete documents and the TAF to the Entry Clerk and wait for the Claim Assessment Slip (CAS) 

3. Proceed to the Cashier and pay the Registration fee and IT Fees indicated in the CAS. Receive receipt and claim stub 

4. Claim document from the Releasing Clerk on the date indicated on your claim stub 

Same process apply on how to get the Certified True Copy/Certification

What are the Basic Requirements for Registration?

1. Original of the deed/instrument

If original document cannot be presented, the duplicate original or certified true copy shall be presented together with a sworn affidavit executed by the interested party stating why the original document cannot be submitted.

2. Certified copy of the latest Tax Declaration of the property

3. If titled property, owner's copy of the certificate of title, and all issued co-owner's copy if any

Note:

a. If a document was executed abroad, a Certificate of Authentication by the nearest Philippine Consulate is required.

b. If either party is a corporation, the following are also required:

      i. Secretary's Certificate/Board Resolution indicating the authorized signatory(ies) and the scope of authority

       ii. Articles of Incorporation

       iii. Certificate of SEC that the articles of incorporation has been registered

For Issuance of Title Transactions

All issuance transactions require the following documents aside from the basic requirements:

1. BIR Certificate Authorizing Registration (CAR) re: payment of capital gains tax or donor's tax, as the case may be

2. Real property tax clearance re: up-to-date payment of taxes

3. Proof of payment of transfer tax

4. If the land is covered by CARP, DAR clearance and Affidavit of Landholding of transferee

Additional requirements for specific types of issuance transactions:

1. Extra-Judicial Settlement / Adjudication

· Affidavit of Publication stating that the notice of settlement has been published once a week for (3) consecutive weeks

· If minors are involved, Court Order approving the settlement

2. Judicial Settlement of Estate

· Court Order approving the partition

· Certificate of Finality of the court order

· If the property is being sold or encumbered during the settlement proceedings, Letters of Administration

3. Extra-Judicial Foreclosure of Mortgage

· Certificate of Sale by the sheriff/notary public

· Approval of the Executive Judge, RTC

4. Consolidation of Ownership

· Affidavit of Consolidation of the purchase or Final Bill of Sale executed by the highest bidder

5. Judicial Foreclosure of Mortgage

· Court Order directing the sale by public auction

· Deed of Sale issued by the sheriff

6. Execution Sale

· Notice of levy or attachment must first be annotated accompanied with a writ of execution

· Certificate of Sale

· Final Deed of Sale

7. Registration/Sale of Subdivision Project

• License to Sell

· Development Permit

· Certificate of Registration

For Annotation Transactions

All annotation transactions require the following documents in addition to the basic requirements:

1. Real property tax clearance re: up-to-date payment of taxes

Additional requirements for specific types of annotation transactions:

1. Mortgage / Lease

· Documentary stamp tax

For Subdivision and/or Consolidation Transactions

All subdivision/consolidation transactions require the following documents aside from the basic requirements:

1. Letter request for subdivision/consolidation

2. Sepia or polyethylene film of the plan duly approved by Land Registration Authority or the Land Management Bureau

3. Blue copy of the plan

4. Original technical description (duly approved)

If with change of ownership, the following additional documents are required:

1. Agreement of partition

2. Real estate tax clearance

For Condominium Transactions

If CCTs are to be issued for the first time in the name of the registered owner, the following are required:

1. Master Deed

2. Declaration of Restriction

3. Diagrammatic Floor Plan

4. Letter request for issuance of individual Condominium Certificate of Title

5. Certificate of Registration with HLURB

6. Development permit

7. License to sell

8. Owner's duplicate of the title of the land and all issued co-owner's duplicate, if any

For subsequent transfer of CCTs

1. Certificate of Management

THE REGISTRIES OF DEEDS

Clients needing information about title to lands go to Registry of Deeds (RD) office concerned. It is in this office that the service rendered to the public by the Land Registration Authority is almost done. Today, there are 168 RDs nationwide. Specifically, an RD is tasked with the following:

1. Register deeds affecting registered (Act 496) and unregistered (Act 3344) properties as well as deeds on personal properties under the Chattel Mortgage Law;

2. Entry and issuance of original certificates of title (OCT) pursuant to judicial decrees and patents; entry and issuance of all transfer certificates of title pursuant to registration of all subsequent dealings, voluntary or involuntary, on registered lands;

3. Collection of entry, registration, legal research and assurance fund fees in accordance with the rates provided by the law;

4. Reconstitution of lost certificates of title in accordance, with the provisions of Republic Act No. 26 as amended by PD 1529;

5. Cooperation with other agencies of government in the collection of taxes and fees such as land transfer tax, capital gains tax, donor's gift tax, estate tax, real estate tax, residence tax, privilege tax;

6. Cooperation with other government agencies regarding the land reform program under PD 27 by complying with land reform requirements prior to registration;

7. Repository of all titles, deeds, and records within the limits of its jurisdiction.

8. It is also responsible for the following services;

• Provision of records retrieval services regarding requests for the reference to, or research on any document, titles on file and issuance of certified true copies.
• Verification of history titles.

Regional Registries of Deeds

• Exercise immediate administrative supervision over all provincial and city Registrars of Deeds and other personnel within the region.
• Implement all orders, decisions and decrees promulgated relative to the registration of land titles within the region and issue, subject to the approval of the Administrator, all needful rules and regulations therefore.
• Implement policies, programs, memoranda, orders, circulars and rules and regulations of the Authority.
• Answer queries relative to registration of deeds.
• Coordinate with regional offices of other departments, bureaus/ agencies under the Department of Justice and with the local governments and police units in the region.
• Extend speedy and effective assistance to the Department of Agrarian Reform, the Land Bank of the Philippines and other agencies in the implementation of the land reform program of the government.

Source : http://www.lra.gov.ph/index.php?page=registry_of_deeds