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seanm
On 4/24/2018 at 5:33 AM, Jawny said:

The only times I've known of home purchases here (limited experience in this) the contract/agreement was for immediate possession of the property with a promise of payments as specified.  For example, my BIL bought a house and lot with a large initial payment and two subsequent payments,p.   No interest was involved, but an agreed upon price.for the house and lot.

If the BIL, should fail to make a subsequent payment, the owner has the right to recover the property and retain the payments thus far.  I am aware of this as I am the BIL backup plan if he falls short.

Ive bought a house and lot with an initial large payment, and the remainder due upon receipt of title.  That was 14 years ago and the title is still not provided and the payment is not made.

 

This is crazy. 

I am in the same sort of situation. I paid half and was supposed to pay the other half this month upon receipt of the title, but alas, no title yet. It may be a 14 year wait lol. 

Good to read another went through this situation

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Twice you sent me PMs asking for help and both times I gave you advice- and both times you then just deleted the conversation and left without so much as a goodbye.  Now you ask for advice again

Not sure what you mean by vendor.  The situation I described is pretty common here.  There is a title for a large area of land.  Many homes have been built on subdivided portions, but none of these fa

To repeat- no buyer ever will buy a house without the Title and without taking possession.  People can make up all the fantasy stories that they want but it is NEVER going to happen.  The buyer will a

Soarking

Confucius once said, “ A fool and his money are soon departed”.

I think he was referring to foreigners buying real estate in the Philippines.

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Fresh
7 hours ago, seanm said:

I paid half and was supposed to pay the other half this month upon receipt of the title, but alas, no title yet. It may be a 14 year wait lol. 

So you paid half after getting a Notarized Deed of Sale? Are you living on the property now?

Normally you pay all, after getting the Deed of Sale, and a Copy of the Transfer Certificate of Title.

Then the property is yours, so you can wait 14 years getting the title transferred to your wife.

 

 

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A_Simple_Man
1 hour ago, Fresh said:

you can wait 14 years getting the title transferred to your wife.

Only took 6 years for me.  I guess I was lucky.

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cvgtpc1

Going on 36 years without a title transfer on ours lol

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smokey
On 4/25/2018 at 2:48 AM, Travis said:

Not sure about the Philippines but in the USA you keep what ever payments and down payment that you received.

 

I currently have two properties under contract. If he doesn't pay I keep the $20,000 dwn money, all interest and all principal paid to me. 

Well it will cost u 20 to get it back up for resale

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