Saturday, August 27, 2011

Home for Sale - A Sellers Real Estate Guideline

Home for Sale - A Sellers Real Estate Guideline

Having both parents active in the Real Estate Brokerage business I’ve realized how meticulous and complicated is the buying and selling of a Real Estate property. Most of the time, aside from the unethical (un-licensed) agents, we also encounter different problems with the property itself. From the usual wear and tear, bad location, eyesore neighbors (such as illegal settlers), flooded area, etc.

Being a Real Estate Broker/ Realtor® you need to have a lot of patience and perseverance. You will deal with a lot of hard work. You will give a lot of time and effort for you to be able to close a deal.

Handling fickle-minded buyers is one thing, but selling a property and realizing its problems in the last minute of sale can be devastating. That is why, I will impart some basic knowledge and per-requisites on the part of a Seller before they offer their property in the Real Estate market here in the Philippines.

To be able to have a sweet flowing deal, you, the Seller must make sure and provide your Realtor® and their prospective buyers the following so they can also verify it themselves:

-         Provide them with a photocopy of your Title (TCT). Make sure that you have no pending Encumbrances, Loans, etc. (It will be stamped/indicated at the back of the TCT and needs to be canceled at the Registrar of Deeds)

*** Also, if your property is located within Quezon City, your TCT probably has a stamp stating Section 7 RA 26. It is an act providing a special procedure for the Reconstitution of Titles (TCT) that were lost or destroyed (This is due to the burning of the original Titles inside QC City Hall). And it is a protection for the Real Owner if in case someone pretends to own your property after the incident. Only 2 years after it was stamped can IT be removed through the order of a Judge/court. Most of the time, buyers and banks will want you to have it removed before they buy the property or use it for a bank loans.

 *** Also, if the owner of the property recently died, there will be a stamp stating Section 4 Rule 74.  It protects an heir or any other person concerned if they appear to have been deprived/tricked of their lawful share in the said property, or if there is an outstanding debts that is yet to be paid or realized that is made by the departed.
       With this, you cannot sell the property unless the stamp is canceled after 2 years, so the Title (TCT) can be Transferred to the buyer/ new owner.

-         Next, please provide your Broker and their clients with a photocopy of your Tax Declaration (both Lot and Structure).
-         Also make sure you annually update/pay your Real Estate Taxes (Lot and Structure). Then provide your broker with a copy of the Tax Receipts. So they can verify.
-         If you are NOT delinquent with your Taxes, you will be able to provide your Realtor® with a Tax Clearance Certificate.
-         Feel free to share a photocopy of your CEI (Competent Evidence of Identification) such as government issued ID’s. Provide them at least 2 and also include your Tax Identification Number as it will be needed after the sale.
-         They may ask for a copy of the Lot Plan and Vicinity map so be ready.

And always remember: Be Safe! Deal Only with a Licensed Real Estate Broker/ Realtor®


If you decide to sell your house, you the seller, should accept the fact that you will be the one to shoulder the: Capital Gains Tax, Updated Realty Tax and the  Brokers/Realtor® Professional Fee of 5% based on the total sale value.

** Republic Act 9646 a.k.a. the Real Estate Service Act (RESA) law Prohibits the ILLEGAL practice of Real Estate Service.

This post is a part of a blog campaign sponsored by Bucks2Blog ( & a Kansas City Real Estate company. However, all the information are Facts and of my own.

Incase Nylon Campus Backpack - Technoodling Giveaway

Tired from your old dirty and worn out backpack? This is your chance to get one of two Incase Nylon Backpack from Technoodling.

All you have to do is:

1. Follow Technoodling on our Facebook page.
2. Share this giveaway page using the Twitter or Facebook “SHARE” buttons found on the upper right hand corner of the contest page. Take note: you only need to share this page once!
3. Answering this question (on the Contest Page):
What three items would you put in this bag?

Winners will be announced on Tuesday, August 30!
*Only residents of the Philippines are eligible to join this giveaway. Items will be claimed within Metro Manila.

To know more, pls visit the Contest page:

Friday, August 26, 2011

Our Real Estate Story + Tips on buying your first Real Estate Property in the Philippines

Everyone is excited when it comes to buying your very own dream home that you and your family can be proud of.

My mom grew up living in a rented apartment. My grand parents rented three (2 bed room) apartments just to fit a family of 15. And my grand mother (mother side) grew up by just renting a small room in a shanty with a view of the sewer from their bamboo floor. That is why they considered it a great blessing when grandma and grandpa were able to purchase our 675 square meter property from years of hard earned money. Without any formal education, not even a high school diploma, my grand parents were lucky enough to save and find a trust worthy seller and a dependable real estate broker to help them with the purchase. And I am happy to announce that after more than 4 decades, we still live in the same property. I practically grew up here and still loving it. I am always proud in sharing the story behind our lovely home and how my grand parents worked hard for it.

That is why, as a part of this post, I would like to impart with you some knowledge to guide you in purchasing a house here in the Philippines.

Almost 3 years ago, my mom (inspired by the son of the mentioned real estate broker) took the Real Estate Licensure Exam and successfully passed with just one take. As a pre-requisite all Real Estate Broker candidates must undergo hours of formal training and classroom sessions. There, my mom and her fellow brokers learned the following when purchasing a Real Estate Property:

-         Aside from visualizing the property though e-mailed pictures, the buying broker and her client must do an actual inspection of the house.
-         Make punch list of the things to be renovated (if 2nd hand) or the things to be done and be included in the warranty given by the developer (if brand new).
-         Get a Certified True Copy of the title (TCT) and Tex Declaration of the Land & Improvement.
-         Check if there are any encumbrances, loans, etc.
-         Get a copy of the Lot Plan with Vicinity Map.
-         Check and compare with the Technical Description printed on the title (TCT). It must be the same and accurate.
-         Ask for a copy of “the current year’s” Real Estate Tax Payment Receipt.
-         Ask for a Tax Clearance Certificate (original)(valid only for 1 year)
-         Request from the seller: 2 Competent Evidence of Identification (Government issued ID’s) and their Tax Identification Number.
-         Verify with the Bureau of Internal Revenue (BIR) the Zonal Value of the property.

When everything is in order and if you are ready for the purchase, the following must be noted:

-         Prepare and Sign the Deed of Absolute Sale (seller and buyer).
-         Notarize the DOAS.
-         Pay the Capital Gains Tax and Documentary Stamp Tax at the designated RDO-BIR and wait for the release of the Certificate Authorizing Registration (CAR).
-         After that, pay the Transfer Tax at the municipality City Treasurers Office.
-         Then, surrender the original title (TCT) (with the name of the Seller) and pay the Registration Fee at the designated Registrar of Deeds.
-         Wait for the Release of the NEW Title (TCT) under the name of the New Owner/s.


The Seller usually shoulders the following:
-         Capital Gains Tax (paid at the BIR)
-         Updated Realty Tax (paid at the City Treasurer’s Office)
-         Real Estate Broker’s Fee (if there is one)

The Buyer usually shoulders the following:
-         Documentary Stamp Tax (paid at the BIR)
-         Transfer Tax (paid at the City Treasurer’s Office)
-         Registration Fee (paid at the Registrar of Deeds)
-         Notarization Fee of the DOAS.  

Looks complicated? Actually, it can get pretty hard. That is why it would be better if you could hire the professional services of a Realtor® / Real Estate Broker or a Real Estate company.

Good luck and enjoy your new home.

I am participating in a blogger campaign by Bucks2Blog ( sponsored by a Missourireal estate company ( However, the views and opinions are genuine and of my own.

Saturday, August 20, 2011

WIN an iPad2 from Trend Micro

Get the chance to WIN a 16GB iPad2 from Trend Micro. All you have to do is install their APP via their Facebook page: Trend Micro, then complete the form and survey, then share. EASY!

To know more, simply visit their Facebook at: Trend Micro Philippines

Good luck!

Anyong Haseo from KES straight from Korea!

Anyong Haseyo from Korea!

As a young student I was introduced to the Korean culture for quite some time. Our school accepted foreign enrollees so we had Korean classmates as one of them. I even remember the first time we smelled Korean Kimchi  during our lunch period. Everyone in the canteen reacted to the smell. Ironic as it may seem, now as a grown man, I am so much in love with that Korean dish.  In fact, I am addicted to it. I can even finish ½ kilos of Korean Kimchi in two days, all by myself.  

When I introduced it to my family, they too, reacted the same way my fellow students reacted before. But like me, my mom and my dad became addicted to it.

Back in high school, as part of our curriculum, selected students were given the chance to visit Korea to experience and learn a different culture by becoming a foreign exchange student for a few days. As part of the preparation, we were taught basic Korean language and some Korean songs to sing at the church.

When we got there aside from traveling, we were also introduced foster parents/family. Us students were grouped into two and was sent to live with our Korean families for 3 days. It was fun. They were very kind and generous. Both my sister’s and my foster family even took us shopping for a watch as a gift (we bumped into each other at the mall). I remember, we even went to Lotte world.  I will never forget that wonderful experience. This is the reason why I like Koreans....and their food! It reminds me of the time when we visited their country. 

When it was time to leave, I wished that I could stay longer...

Well, somehow my wish became true.  As I grew up, I’ve noticed how a lot of Koreans preferred to settle and study here in the Philippines. Little by little, we become influenced by their wonderful culture. There are a lot of Korean restaurants everywhere and also their grocery stores where we can find authentic Korean ingredients. And who can forget the award winning Korean soap operas like Jewel in the Palace and Queen Seon Dok? A lot of Filipinos fell in love with it!

Because of them, there were even more jobs to be given to Filipinos, such as English teachers  and tutors, etc.

That is why, I am proud to introduce:

Korea Electronics Show (KES) 2011

They are the leading electronics company in Korea ranking 4th in the world electronic production. For 52 years, they have proven their worth and value.  And as part of that, Soul KES will be having their 42nd show to showcase their products and services.

In the year 2010, KES featured (in a 53,542 SQM showroom) their worldwide best selling products such as:  cell phones, semi-conductors, information technology used for fashion, medicine, construction and many more. Over a thousand participants and potential buyers  from different countries like Russia, China, and India joined in the show. Over 750 companies also participated such as: Samsung electronics, Hynix, LG Electronics, etc. During that event, they also showcased other shows like World 3D Expo and APP World Expo.

KES has mainly focused on two products, its Display and Semi-conductors. They also offer buyers a hassle free, easy access to the supply chain.

This year’s exhibition with the theme “Be Smart!”, it is estimated that again, over a thousand companies from 30 different countries will participate in this grand exhibit. Aside from last year’s products, they will also present different kinds of digital kits, a way of digitizing hospitals, wearable computer and Green Information technology.

They will also showcase a new look for the future technology. Something to inspire us with and that is worthy of investing.

Being affiliated with Asian Pacific IT shows held in Asian countries, potential clients from North America, Europe, and Middle East are expected to schedule an Asian IT pilgrimage annually, every October.

It is said to be Korea's biggest electronics show of the year.

For more information, you can visit:
(Their website offers different translations.)

As an alternative, you can also check them out on:

KES Official Facebook Page :
KES Official Twitter :

Korea Electronics Show 2011

  Date : Oct. 12, 2011 ~ Oct. 15, 2011
  Venue : KINTEX, Gyeonggi-do, Korea
  Sponsored by : Ministry of Knowledge Economy of Korea, Gyeonggi Province
  Organized by : Korea Electronics Association,
  Registration :

Korea Electronics Show (KES) 2011

Wednesday, August 17, 2011

Win Apple iPad 2's from Chevrolet Philippines' Spark Virtual Carpool Club!

Get the chance to win movie 5 movie tickets + 5 Chevrolet T-shirts every week and an Apple iPad2 in the Grand raffle.

All you have to do is register and invite your friends to join. For every 4 successful friend invites, you'll get 1 raffle entry.

To know more, pls install the Facebook app: Spark Virtual Carpool Club iPad2 Contest.

Friday, August 12, 2011

Our Bankruptcy experience in the Philippines

Our Bankruptcy experience in the Philippines

The year February 2003 was one of those years that I vividly recall as our darkest time ever in the business arena.

After 15 years of operations, both my parents who are directly operating our business decided to finally shut it down as it has continually drained even our reserved resources. We thought that by infusing additional funds, our business would still somehow make a significant return from this business reversal.

Still, nothing significant ever happened as we just saw all our funds slip down the drain again and again. More so, it has aggravated our situation as it created a pile up of our payables.

When we decided to shut it down, the first thing that entered our mind was to clear our names from our suppliers by paying off our debt, as this would stir a lot of commotion. We communicated with them and settled what needs to be settled up to the extent of even selling our properties just so we could satisfy every supplier. We thought that it was the best thing to be done yet only to find out later that it was a wrong move.

Not that we should have run away from our debts, we should have arranged and scheduled it in such a way that would allow us to be able to start something again but what happened is that we were totally extinguished from resources to be able to start something new.

We failed to realize that we could pay our creditors later when we have at least settled down with whatever newfound source of livelihood there would be instead of paying off all our debts right away with nothing to start with.

Likewise, we failed to file for a bankruptcy amidst our differing speculations that could have at least supported our decision to defer the payment of our debts.   

Things could have been placed in order and not just decide on moves in a whim if we have even consulted a bankruptcy lawyer. We also thought that having a lawyer would just aggravate our dwindling resources. Alas, we were wrong. A bankruptcy lawyer could have saved us from so much pain and trouble.

Nevertheless after 7 years, both my parents and I are starting to regain foothold on our newfound source of livelihood, which could have been earlier if we knew what to do. At least, my parents could now go back to the place where we had that business without so much anguish as compared to the initial years when even the thought of it sends shivers up my fathers spine.

I am participating in a blogger campaign by Bucks2Blog ( sponsored by Cary Bankruptcy Attorneys ( and will be compensated. However, the views and opinions are all facts and of my own.

Saturday, August 6, 2011 - Apple iPod Shuffle Giveaway!

Get the chance to WIN an iPod shuffle or 1,000 pesos or $25 Amazon GC or PinoyRecipe t-shirts from

Contest Ends on August 31, 2011.

To know more on how you can join, pls visit the contest page:

Thursday, August 4, 2011