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I came across a house for sale or rent that the owner says there is no title. It is in a subdivision. Here is what he says :

 

Title: The Homeowners association is working on issuing title for all homes in the subdivision but this has been in limbo for years due to survey and other issues. We have a valid deed of sale recognized by the homeowners assoc and tax assessor. Due to no title we are offering under market. When title is issued market value will increase substantially.

 

Why would any one buy this house with out a title ? You would think that someone in that subdivision would have made a stink about not having title to their house, Am I missing something here

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Why would the HOA have anything to do with a title ? An HOA is just a group of homeowners how can they issue title ?

If you're talking about the Brooklyn Bridge, forget it. I already have the title for that, and I'm not selling. :ROFLMAO:

The owner is selling the house at a reduced price because it has no title. It is a 170 sqm house with 5 bedrooms and 3 bathrooms and it is listed for just under 1 million. It does need some finishing

Maybe! If you're a foreigner you can't own property anyway, so why not rent or lease?

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The title system in the Philippines is shambolic at best *beware* in general land that does not have a title will be worth less (due to risk) than land with a title, then you have the issue of how many Govt depts and agency's recognize that title...i believe its possible for different dept's and agency's to have different registered owners of the same property.

 

Land disputes are very common in the Philippines.

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smokey

ITs risky because the title is not issued because of a problem already ... we have one in our subdivision when formed the developer drew a big circle around the land some they picked up from farmers ,, some thru courts.. some from a family member who happen to live there but was only part of the ownership ... say a dad passes and leaves 10,000 sq meters and has 6 children then them six have 6 each so then 40 years later one of the legal grandchildren sells the lot , do you think the other children are going to sit by and say oh well... Some land disputes last 40 plus years in court. The buyers should of sued the developer for NOT giving title

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smokey

I came across a house for sale or rent that the owner says there is no title. It is in a subdivision. Here is what he says :

 

Title: The Homeowners association is working on issuing title for all homes in the subdivision but this has been in limbo for years due to survey and other issues. We have a valid deed of sale recognized by the homeowners assoc and tax assessor. Due to no title we are offering under market. When title is issued market value will increase substantially.

 

Why would any one buy this house with out a title ? You would think that someone in that subdivision would have made a stink about not having title to their house, Am I missing something here

 

 

 

Why would the HOA have anything to do with a title ? An HOA is just a group of homeowners how can they issue title ?

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Why would the HOA have anything to do with a title ? An HOA is just a group of homeowners how can they issue title ?

 

Thats a good question. But nothing surprises me here. Sounds like he does not know what he is talking about

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Headshot

Thats a good question. But nothing surprises me here. Sounds like he does not know what he is talking about

 

Actually, it sounds like maybe the developer didn't bother to get the property subdivided (through the city tax office) into individual lots before he developed and sold them. Just because you see a drawing that shows the land subdivided into lots doesn't mean they have been formally subdivided and given individual titles. You don't want to get anywhere close to a deal like that. Unfortunately, it isn't really all that uncommon here. In developments where most buyers are using PAG-IBIG loans, the developer will often drag their feet on getting the land actually subdivided (since it costs them money) until owners actually request a title. If the developer goes away before the land is actually sub-divided, then the new lot owners have a problem if they need a title (like to sell the property).

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SkyMan

Run away! Run away! Don't even rent it. The real owners might show up.

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thebob

It is very common that the developer, releases these obligations to a HOA on completion and just moves on. I wouldn't go near it.

 

Developers buy cheap land, put in a few roads, promise to put in some amenities and sell some lots cheap at the beginning to get some capital. They then start building row houses, and sell them off to fund the rest of the construction. Once everything is finished the the HOA is supposed to collect from each occupant, for maintenance and run the water or what ever.

 

The developer disappears and then the land disputes start.

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smokey

Thats a good question. But nothing surprises me here. Sounds like he does not know what he is talking about

 

 

 

come on HOA is elected by the homeowners how can they produce a title? The subdivision was not allowed to sell without title there is your fight and the HOA can do nothing but maybe collect money to pay a lawyer to try to find a way to get title

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Why would any one buy this house with out a title ?

 

Why do people puy quarters in slot machines? There's your answer!

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A_Simple_Man
Why would any one buy this house with out a title ?

 

If the price was right, and no other claimants were showing up and I had absolutely no intention of doing anything else other than living in the house and leaving it for my family when I passed on, then I would join the multitude of others who have done exactly that in this country. The BIG things are price and no other claimants.

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smokey

If the price was right, and no other claimants were showing up and I had absolutely no intention of doing anything else other than living in the house and leaving it for my family when I passed on, then I would join the multitude of others who have done exactly that in this country. The BIG things are price and no other claimants.

 

 

the first part i understand the second is how to figure that one out

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