Quandry

[Harry T]

Some years ago, someone (a female) asked me to help them find a person here in the Uk this i did, briefly it was her Bf of 6 years who had returned to the UK basically to die, he had left a will leaving his half of his property here in the UK to this woman in Phills, it turns out the will is invalid, and the house has now been left to his wife here in the UK. I told her she needed to have put in a claim against this guys estate, but it was to late to do anything, and she was up the creek without a paddle, basically his wife in the UK had the House, and she in Phills was left with his debts.

The woman has Medical Bills for this guy who had COPD, of more than 500.000 pesos, included amongst them some for more than 100.000 pesos on Oxygen alone, this included remortgaging her ground floor house in Quezon city, recently she contacted me and offered me this property for 210.000 pesos thats what the loan now stands at with accumulated interest etc, i dont really want it but on the other hand it seems it could be a decent Investment. I said i would consider it with certain conditions, 1. She takes the rental Income, its currently rented out. 2, That whenever i visit Phills i can stay at her place above this ground floor property for
as long, and often as i like. 3,When i am no longer on this earth the property reverts back to her name, so long as i still have no family..

Whats your guys thoughts on this ?

[fred]

Who did she "remortgage" it with Harry? The bank or a Bombay loan shark?
The only thing I can suggest is a long lease which stipulates exactly what you want on it for the amount you are paying up front.. A 20/25 year lease should do it or whatever time frame you think is fair.. The lease papers must be prepared by a local lawyer,stamped and signed by all parties.
This is the kind of lease agreement document I`m talking about..
http://legal-forms.philsite.net/lease-contract.htm
Not as easy as you might think to do properly whilst you are there in the U.K..
If you hand over that kind of money based on nothing but trust,you stand to lose the lot for any variety of reasons.

[fred]

How did he invalidate his will?

How to make a valid will.
http://www.ageuk.org.uk/money-matters/legal-issues/making-a-will/how-to-make-a-valid-will/

[Harry T]

How did he invalidate his will?

How to make a valid will.
http://www.ageuk.org.uk/money-matters/legal-issues/making-a-will/how-to-make-a-valid-will/

Originally he made a will leaving his half of the UK house to his wife here in the Uk, in the second will he did not revoke the first will, and the 3 witnesses signed the will but did not put there addresses, this second will was signed by a notary in Phills.

[Terpe]

A one bedroom condo here in Cubau Quezon City goes for around P12k -P20k per month depending.

If it was me, based on the very little info supplied, I'd grab it quick. Where abouts in QC is this place ? How many bedrooms, CR, etc ?

I'm in our Cubao Condo now. I could take a peek.
At that price I'd be interested myself..........

[fred]

A one bedroom condo here in Cubau Quezon City goes for around P12k -P20k per month depending.

If it was me, based on the very little info supplied, I'd grab it quick. Where abouts in QC is this place ? How many bedrooms, CR, etc ?

I'm in our Cubao Condo now. I could take a peek.
At that price I'd be interested myself..........


If it sounds too good to be true it generally is...Especially in the R.P.

[Harry T]

A one bedroom condo here in Cubau Quezon City goes for around P12k -P20k per month depending.

If it was me, based on the very little info supplied, I'd grab it quick. Where abouts in QC is this place ? How many bedrooms, CR, etc ?

I'm in our Cubao Condo now. I could take a peek.
At that price I'd be interested myself..........

I will ask for more details..

[Terpe]

If it sounds too good to be true it generally is...Especially in the R.P.

Agree. That's virtually always the case.
Here in Quezon City that "price" isn't going to buy even a squatter place.

[grahamw48]

Our brand new 2 bed apartment with huge balcony is p5000 a month... here in our small Pangasinan town. :smile:

Work soon to start on our own place.

[Michael Parnham]

Wow, that's excellent Graham, when we lived in Dumaguete I paid p8000 per month for a brand new two bedroom apartment with a large balcony and I thought that was good, well done and good luck with the progress of your new build.:xxgrinning--00xx3:

[grahamw48]

Thanks Michael. :xxgrinning--00xx3:

[fred]

Wow, that's excellent Graham, when we lived in Dumaguete I paid p8000 per month for a brand new two bedroom apartment with a large balcony and I thought that was good, well done and good luck with the progress of your new build.:xxgrinning--00xx3:

Damn!!!!
well done guys...
If we rented our units out for those prices, I`d probably be destitute and well up for a loan!!
You might see me wondering around Manila like one of those sad foreigners with straggly beards begging for assistance on Youtube!!:biggrin:

[grahamw48]

Aww.... poor Fred.:biggrin:

Actually, ours is the dearest one... with balcony to 2 sides, plus views.
The inner ones are only p3000 a month. :Rasp:

[fred]

3K??? I`m gonna have a seizure if you carry on!!
Cheapest room I had in Manila was 50 Peso a month and that included my laundry!
Beat that!! lol.

[grahamw48]

:laugher:You woz robbed !