How to Transfer a Condo Title in Philippines

So, property in PH is not about location location location.  It's about tax tax tax :)

But hey, it's okay.. let's pay!

This is the least we can do to enrich the rich err, our conscience and feed the fed ups..haha let's get positive oki?

Olrayt, to those of yah who are newbies in condo investment, here are Tips to guide you on how to transfer your Condo Title, just don’t forget to give me a $tip when you’re done :)

It is vital that before you bungee jump on your dream home, you must exert due diligence to know the basic facts in buying a property in the Philippines.  Else, Internal Rev may slap you with penalties for ignorance.  

The first thing to note apart from the documents needed to transfer the Title, is the timeframe in paying the taxes and other dues from different government agencies, particularly the BIR (Bureau of Internal Revenue).

After notarization of the DOAS (Deed of Absolute Sale),  the clock starts clicking for

DST (Documentary Stamp Tax) - must be paid on or before the 5th of the following month

CGT (Capital Gains Tax) - within 30days after notarial

If you miss the deadline, please know that mercy is not Tita Kim’s name (Kim Henares, BIR Commissioner).

To Transfer the CCT (Condominium Certificate of Title) @RD (Registry of Deeds), the following are required:

1.  Notarized DOAS (Deed of Absolute Sale) 
2. CAR (Certificate Authorizing Registration) @BIR
3. DST Receipt@BIR
4. Tax Declaration - certified true copy @Assessors
5. Owners Duplicate Copy of CCT 
6. Real Property Tax Clearance@City Hall 
7. Transfer Tax Receipt@City Hall
8. Management Certificate @Condo Administration
9. Payment of Registration Fees @RD
1. 0.25% of Selling Price
2. Miscellaneous fees
10. Submit all documents to RD Officer and wait for processing time.
11. WAITING PERIOD:  3 weeks to 1month (may vary in other cities)

To secure CAR @BIR 

1.  Notarized DOAS
2. Tax Declaration - certified true copy
3. CCT- Owners duplicate copy / certified true copy
4. Previous CAR from Seller
5. Affidavit/Certificate of Non-rental
6. TIN of both Seller/s and Buyer/s
7. BIR computation sheet for CGT, DST 
1. CGT = 6% of Selling Price or Zonal Value whichever is higher
2. DST = 1.5% of Selling Price
3. Payment Forms - P100/- or more 
8. Payment to accredited Banks.  
1. If in Taguig, the nearest Bank is BPI.  Take note the Bank's cut-off time is 2pm 
1. Other branches accept payment up to 3pm
9. Submit all documents to BIR Officer and wait.
10. WAITING PERIOD:  Min10 Days.  Max-unknown

To pay your Local Transfer Tax@City Hall

1.  Notarized DOAS
2. Tax Declaration - certified true copy
3. Local Transfer Tax = 0.50% up to 0.75% of Selling Price or Zonal or Fair Market Value whichever is higher
4. Some cities also collect City Tax

While faithful and diligent Real Estate Brokers can help in many ways to guide you in property transactions, it is always in the Buyer’s best interest to know the procedures, requirements as well as payments due in perfecting the ownership of your newly purchased property.  So be in the know.

I am sharing this guide to help others who may need first-hand information and the latest update on Condominium Titling and related subjects.  Facts and figures are based on my recent transactions in Taguig City, Philippines in June 2015.

Thank you BIR, RD, City Treasury .. I love my Taguig!

WilmaBV

Property Mgr-Dubai certified

Licensed Real Estate Broker

Licensed Real Estate Appraiser 

eto ang eksena ng byahe ko from tupi to general santos city via yellow bus, ang bus liner na andyan na yata simula ipanganak ako..

" aah taga dubai pero nag yellow bus padung dyangas!" pang-asar na salubong sa akin ng nakatayo sa estribo, na sinabayan ng tawanan ng mga kumag pati na driver at konduktor. may tag kasing emirates air ang trolley ko kaya nya nasabing taga-dubai ako. ginawa ba akong source of laughter sa miserableng siksikan?

hay naku manoy, panu na lang natin isulong ang platapormang pangkapayapaan nyan hinawayon kaayo mo?

anyhow, di man state of the art ang byahe gaya ng dubai metro, at least maaliwalas naman ang state of mind mo dahil sa picture perfect na tanawin. at may bonus ka pang "mani day?" "itlog?"

Ps from 'Postscripts to Blood bath'

Did the end justify the means? Or did the means justify his end?
I’m just as confused.
While I deplore a murderous act of any man whatever his cause, I’m just as sadden what fate awaits his family. And in a society where the blame easily rests on others except us, where do they go from here?
We all can fall victims of unjust circumstances, and If so, seek justice your way. But our legacy to family should be foremost in our head!
Not too long ago, I thought deeply of what legacy I can leave my daughter when I figured I don’t have that much money to leave behind when its time to go.
I found out there was something more important and lasting than just money.
It is the legacy of Honor. Goodwill. A name.
So I self published a book.

The Heart of Photography

"I like the sensation of being able to freeze time, and have absolute control with what I want people to see in my images." That’s not me talking, but Dino Kintanar on his photography.

This guy, who is nutty in experimenting settings, and gritty at risky exposures and angles, could spend a hell of a time under the scorching Arabic sun; composing, angling, changing lens, etc.. just to capture that one perfect shot. Ako? Di siguro!

Honestly, getting to know some Pros, ahead of you getting to know your basic photography, would certainly cause you insecurity if not discomfort. Especially if you have already published an imagery coffee table book, that you have launched across 3 continents, e nakakahiya na talaga magtanong some basics as to your camera settings or to ask how deep is the depth of field?

Soo time con-fusing, getting to know the technical aspects of photography.

If you have neither time nor patience in understanding the manuals of your camera, that you need to know how aperture and focusing distance defines your depth of field, that bouncing your flash towards a wall is a lighting technique (as I learnt from assisting Dino on his portrait shots)or even knowing the difference between Nikon d90 or canon d400 is too complex for you, as I do, then sit back and relax, because the very heart of photography lies not in its complicated technicalities...
It lies nowhere else but only, and only in the heart of the photographer.

So get your digicam, go point and shoot!

swiss bretz vs american pretzel

authentic american blueberry pancake, paghahanap nyan ang una kong misyon pagdating sa new york. back in dubai, pancakes - of all varieties: oatmeal w/ almonds; banana w walnuts; sweet corn; plain pumpkin; chunky cheez; choco & nuts; black and/or yellow raisins & almond n pecan nuts (ganyan ako ka-nutty sa aking pancakes); have always been a weekend treat for myself and friends, to try my delightful recipes..kasi mind you, when it comes to my kitchen, i break all the rules and have it my way!

thats why when i embarked on US tour last month, american SIZE pancake lang ang nasa isip kong kainin for the rest of my 2week breakfasts..

but i found out pretzels pala ang kinalolokohan ng mga new yorker. so di na ako nag-aksaya ng panahon at nakigaya me na palakad-lakad sa streets of NY na kumakain ng pretzels (yes totoo ang nakikita mo sa pelikula na ang mga kano kebir kahit naka coat n tie basta kakain yan ng burger or pretzel kahit pa tatawid ng kalsada) oh by the way, speaking of pagtawid, lam nyo bang wala din silang paki sa traffic signals? gosh yours truly lang ang the only traffic law abiding crossing citizen in new york when i first arrived there..opo and i mean both pedestrian at motorist! pero thats another story..

back to my food expo, di ko man type ang pretzels (mabibili mo to sa mga street vendors) nila at super alat ang una kong natikman? di gaya ng bretzels sa switzerland na unang tikim pa lang..woww ang sarap!

2 b cont..

missing something

Whenever i visit a new place, esp big cities, i always look forward to a bonus side trip in the suburbia. And soo happy indeed that in this return trip to Washington DC (from NY) on Memorials day, we did manage to find time to dine in a Chinese resto in Fairfax, around 15min drive from DC. The bonus dinner trip was courtesy of her graciousness Ms. Grace Valera, the lifestyle editor of migrant heritage chronicle-a DC based magazine.
it was 10pm late when we hit the road back to NY, passing through the states of Virginia (not sure aktwali kung state nga ba to? haha) Philadelphia-where bob lost his way twice, Baltimore, Atlantic City (may sign board going there lang), New jersey- the border of NY ..so exciting it was that we travelled 7hours instead of 4hrs lang! kaya umaga na pagdating NY.
in my 14day US trip, every single day was jammed with fruitful activities, accomplished business, new friends, and good memories..yet i still have this nagging feeling that i miss something... or someplace?

o baka someone?@#?

BFF

USC, Cebu City. Dekada 80. ganito na ang porma namin ni marivir montebon, then editor in chief of Today's Carolinian-the official student publication of USC-CC, at ako naman, then the renegade President of USC Theatre Guild. enjoy kami sa buhay aktibista..pero di kami masyado enjoy na laging tinatawag ng guidance office para kastiguhin ni mamita alo..haha (bff na rin kami ngayon ni mamits nu!). pero nuon pa man, lagi na kaming laman ng cafe shop sa kanto para magdiskusyon or magpalamig or magpainit (ng ulo), depende sa panahon. pero ang totoo, mas maraming oras ang ginugugul namin (bukod sa tulog at katatawa) ay ang mangarap ng gising.

foremost sa mga pangarap ay ang maglakbay sa ibat ibang bansa lalo na sa US of A (mga kolonyal na aktibista!), kasama na dyan ang kumain ng french bread sa paris, mag sweiss cheeze sa zurich at yes, magkape sa streets of new york...

mga higala..after conquering our collosal struggles in life in the last 2 decades..(o sya sya, almost 3 dekades grr) eto na po kami ngayon!!

(pambansang wika na ang ginamit ko para mas maintindihan ng madla..vir, you may translate in english for the benefit of your fans club)

2 b cont..