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Davaoeno

selling a house in the Philippines

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Enuff

 

Put some speakers on your wall pointed towards the squatters and give them the 'Jimmy Hendrix Experience' all night for a month,if they last that long.

heck, that might be why some are looking to sell in the 1st place.

 

noisy neighbors can be a problem anywhere, however in the philippines there is no way to predict where they will be.

 

unless you live in one of those posh neighborhoods with all the rules and stuff

Yes

Edited by bigmook

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SumDumJoe

We never lived there. We built the place for my wife's family while we were working OFW.  Let's just say they were less than grateful and so we decided to sell it. 

 

PS I am not sure they would even notice Jimi over the noise they themselves create, nor would I waste his talent on them.

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bluecarabao

Think about. May backfire, they'll love it and ask for more. This one will work for sure!!

 

<iframe width="420" height="315" src="https://www.youtube.com/embed/TYl8GRJGnBY"frameborder="0" allowfullscreen></iframe>

 

Sorry Mods don't know how to embed a preview.

Yep,that would do it.

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SkyMan

 

 

Renting the place thru an estate manager would somehow seem lot more comforting
I really have no idea why.  All that would give you is a middle man you have to pay. 
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Baywak

Put some speakers on your wall pointed towards the squatters and give them the 'Jimmy Hendrix Experience' all night for a month,if they last that long.

LMAO-All the pinoy squatters would probably want you to turn up the music,they'd be out there dancing and tanduay-ing to Hendrix through the

nite.Remember filippinos aren't

rigid stiff spines like westerners.

Edited by Baywak

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Davaoeno

Good advise Davaweno. Questions for you.

 

1- Any particular reason you limited the financing to 5 years?

 

2- Knowing the judicial system in the PH, how easy will be to remove the buyer in case he defaults on the payments, provided this will be a civil case and can drag in the court for years having in the meanwhile the buyer living in the house?

 

Part of the reason for  5 years is because I am 68 and dont want to make plans that I cant live up to !  If I was younger i would have no hesitation in making the term longer. 

 

The other is that I am not sure about how long i will continue to live in the Philippines- and if i leave i prefer not to have my cash tied up.   Of course the longer the term the easier to sell the house because the lower the  payments will be, and the more interest you will make.   When i charge 1% a month people do not even flinch.  On the smaller houses my interest rate is 1.5% a month.  Again - never a complaint .  [  and please- remember never to say 18% a year, for some reason most of the pinoy buyers i have met think 18% a year is too high, but 1.5% a month is very  low. In fact several times i have had buyers ask me if the 18% is per month !!! hahaha   They are so used to paying big interest in this country .  And i have never met a single pinoy buyer who even knew how to use a mortgage table. Most of them dont even know what it is .  

 

I understand that foreclosing is not that hard a process because the title remains in your name.   And if you get post dated checks [ which you have to force them to give you since many pinoys do not like them ] then you are in even a better situation, because here an nsf check is estafa and a criminal matter. 

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Davaoeno

What about you buying the rest of the lots at a discount and throwing the squatters off?

 

 

My understanding Roger,  [ and you can ask the Sheriff in Davao who had the vice mayor running interference on behalf of the squatters ] is that  throwing squatters off is not as easy as it sounds.  An aquaintance of mine has a subdivision in Tagum near Davao . She has title to the land but has after 3 years still been unsuccessful in getting rid of the squatters.  She ran out of money and wanted me to invest in the subdivision, which has a huge upside for profit, but I passed because of the squatters.  Her atty guaranteed me they would be gone in 3 months.  That was almost 3 years ago !!  haha

I am a god.

 

See, Ian? I told you this would be great topic.

 

Yes Paul, you are indeed a God !!    :itsokay:

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Hy H

 

 

And i have never met a single pinoy buyer who even knew how to use a mortgage table. Most of them dont even know what it is .  

 

 

How many westeners know about it?

 

 I do not like post dated checks either but I`m looking at this from the other side of the fence.

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Davaoeno

How many westeners know about it?

 

 I do not like post dated checks either but I`m looking at this from the other side of the fence.

 

 

all the buyers seem to be well aware that bouncing a check is a criminal offence, which is why they are reluctant to give them.  However given the option between buying the house and giving PD checks and not getting the house most decide to just please me and go get the checks. haha  Actually many pinoy buyers that i have met who buy low cost housing do not have a bank account

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rainymike

For me, buying and selling is a long game proposition. Wouldn't do it otherwise.

 

Finally decided to buy when I was able to accept that I would personally get nothing out of it, the partner and kids would get whatever there is out of it, and that the primary purpose of buying was to have a home rather than an investment. The concept of selling with a return on investment on the home doesn't work for me. I view the game as more of a long term investment with the hope that the land will appreciate in value (say over 20 to 30 years) - and not so much the house. Whatever one chooses to put in a home is fine by me as long as you're doing it for your own personal comfort rather than trying to get a higher return on investment.

 

I don't think the local culture has any grasp of the value of whatever we might do to 'westernize' a home. Having said that though, I've seen a few expat and OFW homes priced very high. Now maybe they sank a lot of money making the house look spiffy, but trying to sell a home for very high prices (like over 15 million pesos) seems like a real uphill battle to me. That kind of demand just isn't here like it is in other hot real estate areas in other parts of the world. And if the demand is soft, the buyer either sits and waits it out or comes up with flexible terms for the sale. I don't like the paperwork involved (I'm from the keep it simple school) and would probably be the type of seller who would just wait it out (maybe decades) - and land prices appreciated up to where I wanted it to be. Kinda pinoy style I guess.

 

If I really wanted to get some ROI in a short period of time, I'd probably be buying/selling properties in the 0.5 - 2 million peso range where there is probably greater demand. But that sounds like work to me and I'm a retired guy and plan to stay that way.

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RogerDuMond

 

 

My understanding Roger, [ and you can ask the Sheriff in Davao who had the vice mayor running interference on behalf of the squatters ] is that throwing squatters off is not as easy as it sounds.

 

The longer they have been squatting there the harder it is to get them legally removed, but it sounded like they had only been there a short time. You also have to have the right people on your side which it doesn't seem was the case here. Having the officials against you is a sure loser unless you have the desire and the cash to convince them to move.

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Skywalker

Put in a dining room like this one from Fashion House Versace.

 

post-12091-0-15290900-1437809595_thumb.jpg

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BossHog

10-15k per dwelling

 

will remove most squatters

 

just gotta get 'em to vacate all at once (they will self-police and pressure the hold outs to accept)

 

make it a package deal, or else the hold-outs will get demandy.

 

been there, done that.

 

oh, and be sure and raze the shacks immediately.

 

but throw a party for them, keep the mood festive, and hire out a jeepney to help with the re-location logistics. it can be a win-win, if done right.

Edited by BossHog
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RogerDuMond

Put in a dining room like this one from Fashion House Versace.

 

attachicon.gifversacedining.jpg

 

 

Oh yes that will appeal to a large segment of the population.

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billy

well according to cebubird the clock is ticking so let's see if you're right.  my opinion is unless he is more open to workable financing or slashes the cash price to make the locale more attractive to a larger number of buyers he is gonna own the house for a long time.

You hit it on the nose. The real estate market in the philippines is all fd up. Even if he slashes price he will need a hail mary.

When building in the philippines just realize if you want to sell or need to sell it probably wont happen unless your willing to sell way below value and still then no guarantees...

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