This is a long way off yet, but just wondering what is the process and what are the pitfalls of a Brit buying a house in the Phil's?
This is a long way off yet, but just wondering what is the process and what are the pitfalls of a Brit buying a house in the Phil's?
hi again i too was thinking this but after so long i feel its best to rent long termOriginally Posted by Englishman2010
Be very very careful. for a start you can't buy land in the Phills. thru your spouse yes. get a lawyer, buy only land that has clean title make sure it has right of way. pit falls to many to mention.
That's what I was expecting
But TBH, places in the provinces are only about the same price as a decent used car is over here, and my view is that I write off the value of a car over 3 or 4 years, so if a house can be bought that cheaply it's not really a lot to lose if it all goes wrong.
I have no plans to live out there for at least 15 years, and even then it would only be for 4 or 5 months of the year as my kids are over here and there is no way I could earn anything like the amount I earn in the Uk. I'm only even considering it as a long term investment, and to give me a base to stay the 3 or 4 times a year I plan to go over there.
I agree that renting is probably a better proposition, but was just curious to find out how easy/difficult it is to buy.
like I said foreigners can't buy land, only condos. your Philipa wife can thou.
buying a house throu your Philipa wife is easy. hope this helps
It does, thanks.No prospect of that yet, not for a couple of years at least.
We have a few properties here..Never had a problem but that might have something to do with my wife that knows the procedures and how to do land searches/ checks etc with the DENR/BIR etc.
We have bought tax declaration (which we have since got clear title to/ as well as titled land..Buying a titled lot is by far the safest way to go as there will be no future claims etc.
Oh BTW.. You may not be able to own land here but you can do the next best thing if you want security and control of your house and lot..
You can lease titled land for 25 years renewable for another 25 years..
We are considering leasing 150/250 sqr mtr lots to foreigners here in Bohol..
It was just an idea I had but I have been getting quite a lot of interest from foriegn residents here since mentioning it.
Im surprised that these deals are not usually offered throughout the Philippines?
In regards to buying land/property/business I would only consider if I was to raise a family there, something that could be passed onto the kids. I've heard a few stories of problems down the line (not just in PI) when property was bought in the wife's name and things went pear-shaped down the line. Also heard a few success stories though, and they're always the ones who do everything by book and have been in the country for quite awhile.
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