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ByGideor Properties

SAMPLE CONTRACT DOCUMENTS IN REAL ESTATE

A). Authority to sell 2

 

EXCLUSIVE (or NON-EXCLUSIVE) AUTHORITY TO SELL (or LEASE)

 


        THIS IS TO AUTHORIZE (Name), of legal age, a resident of (Address) , to do and perform any and all of the following acts:

(In case of a corporation, replace above with: THIS IS TO AUTHORIZE [Name of Corporation], a domestic corporation  existing under and by virtue of the laws of the Philippines, with principal office located at [Address], to do and perform the following acts:)

 

TO SELL (or TO RENT OUT) my house and lot located at (Address), more particularly described as follows:

 

Block No. _________ Lot No. __________ Lot Area: __________ square meters

Transfer Certificate of Title No. __________

 

That (Name /Corporation) shall receive a commission fee equivalent to FIVE (5%) PERCENT of the total selling price as stipulated in the Deed of Sale or Contract to Sell, payable upon the execution of the instrument.

 

(In case of rent, replace above with: That (Name /Corporation) shall receive a commission fee equivalent to ONE MONTH RENT as stipulated in the Rental /Lease Contract, payable upon the execution of the instrument.

 

In case of renewal of lease, (Name /Corporation) shall receive an equivalent of  ONE MONTH RENT for every year of lease as stipulated in the Rental /Lease Contract, payable upon the execution of the instrument.)

(Add terms as required)

 

This exclusive (or Non-Exclusive) authority shall become ineffective only after 30 (60 or 90) days from receipt of either party of a written notice terminating such authority.

 

 

__________________________________

OWNER

Signature Over Printed Name

 

Name of Owner: _________________________________________

Spouse: _________________________________________________

Home Address: __________________________________________

Telephone Nos. __________________________________________

Office Address: __________________________________________

Telephone Nos. __________________________________________

Date: _______________________

 

B).

CONTRACT TO SELL

 

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of _________, 20__ by and between:

 

(NAME OF SELLER /VENDOR), of legal age, single/married to (Name of spouse if any), Filipino, and with residence and postal address at  (Address), hereinafter referred to as the “SELLER/VENDOR”;

 

-AND-

 

(NAME OF BUYER/VENDEE), Filipino and with residence and postal address at (Address), hereinafter referred to as the “BUYER/VENDEE”.

 

WITNESSETH;

 

        WHEREAS, the SELLER/VENDOR is the absolute and registered owner of a parcel of land consisting of LAND AREA IN WORDS (000) square meters, more or less, located at (Address of property to be sold) and covered by Transfer Certificate of Title No. (TCT Number) issued by the Registry of Deeds of (Name of Town or City);

 

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER /VENDOR has agreed to sell the above mentioned property under the terms and conditions herein below set forth;

 

NOW THEREFORE,  for and in consideration  of the total sum of (Amount in words) (Php: 000,000.00) Philippine Currency, and of the covenants herein after set forth the SELLER/VENDOR  agrees to sell and the BUYER/VENDEE agrees to buy the aforesaid property subject to the following terms and conditions: (Note: Terms and Conditions below are sample only, please revise)

 

  1. The total consideration shall be One Million  (Php: 1,000,000.00) PESOS, Philippine Currency, payable as follows:
  2. a) The amount of THREE HUNDRED THOUSAND (Php: 300,000.00) PESOS, representing earnest money shall be payable by the BUYER/VENDEE to the SELLER/VENDOR upon signing of this Contract to Sell;

 

  1. b) The remaining balance in the amount of SEVEN HUNDRED THOUSAND (Php: 700,000.00) PESOS, shall be paid in Cash on or before ___________, 20__.

 

  1. c) In case the check representing the payment for the balance provided in paragraph b hereof, is dishonored by the drawee bank, the earnest money in the amount of THREE HUNDRED THOUSAND (Php: 300,000.00) PESOS, shall be forfeited in favor of the SELLER/VENDOR.
  2. Capital Gains Tax and Real Estate Tax, shall be for the account of the SELLER/VENDOR;

 

  1. Documentary Stamps Tax, Registration Fee, registration expenses, and all other miscellaneous fees and expenses shall be to the account of the BUYER/VENDEE;

 

  1. Possession to the subject property shall be delivered by the SELLER/VENDOR to the BUYER/VENDEE upon full payment of the total consideration;

 

  1. Upon full payment of the total price, the SELLER/VENDOR shall sign and execute a DEED OF ABSOLUTE SALEin favor of the BUYER/VENDEE. TheSELLER/VENDOR shall likewise execute and/or deliver any and all documents, including but not limited to the original copy of Transfer Certificate of Title, Tax Declaration and all other documents necessary for the transfer of ownership from SELLER/VENDOR to the BUYER/VENDEE.

 

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of ____________, 20__ at _________________________, Philippines.

 

 

(SELLER/VENDOR)                                (BUYER/VENDEE)

Name                                                       Name

WITH MARITAL CONSENT:

________________________                       _________________________
Name of Seller/Vendor’s Spouse           Name of Buyer/Vendee’s Spouse

SIGNED IN THE PRESENCE OF:

 

__________________________               ____________________________

 

 

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)
_____________________________ )  SS.

BEFORE ME, a Notary Public, this ____________day of ________________, personally appeared the following:

 

Name                               CTC Number                Date/Place Issued

 

(Name of Seller/Vendor)                 10000000                February 5, 20__ / Pasay City

(Name of Buyer/Vendee)                 10000000              January 14, 20__ / Quezon City

 

This instrument, consisting of ___ page/s, including the page on which this acknowledgment is written, has been signed on the left margin of each and every page thereof by the concerned parties and their witnesses, and sealed with my notarial seal.

 

IN WITNESS  WHEREOF, I have hereunto set my hand the day, year and place above written.

 

Notary Public

Doc. No. ……..;
Page No. …….;
Book No. …….;
Series of 20__.

C).

DEED OF ABSOLUTE SALE

 

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF ABSOLUTE SALE is made, executed and entered into by:

 

(NAME OF SELLER), of legal age, single/married to (Name of spouse if any), Filipino, and with residence and postal address at (Address of Seller), hereinafter referred to as the SELLER

 

-AND-

 

(NAME OF BUYER), Filipino and with residence and postal address at (Address of Buyer), hereinafter referred to as the BUYER.

 

WITNESSETH; 

 

       WHEREAS, the SELLER is the registered owner of a parcel of land with improvements located at (Address of property to be sold) and covered by Transfer Certificate of Title No. (TCT Number) containing a total area of (Land Area of Property in Words) (000) SQUARE METERS, more or less, and more particularly described as follows:

 

TRANSFER CERTIFICATE OF TITLE NO. 0000

 

       “(Insert the  technical description of the property on the titleExample: A PARCEL OF LAND (Lot 20 Blk 54 of consolidation subdivision plan (LRC) Pcs-13265, being a portion of the consolidation of Lots 4751-A and 4751-B (LRC) Psd-50533,  Lot 3, Psd-100703, Lot 1, Psd-150980, LRC Rec. Nos. Nos. N-27024, 51768, 89632, N-11782, N-13466, and 21071 situated in the Bo. of San Donisio, Mun of Paranaque,  Prov of Rizal, Is. of Luzon. Bounded on NE., point 4 to 1 by Road Lot 22, on…to the point of beginning; containing an area of (280) square meters more or less…”

 

WHEREAS, the BUYER has offered to buy and the SELLER has agreed to sell the above mentioned property for the amount of (Amount in words) (P 000,000.00) Philippine Currency;

 

NOW THEREFORE, for and in consideration of the sum of (Amount in words) (P 000,000.00) Philippine Currency, hand paid by the vendee to the vendor, the SELLER DO HEREBY SELL, TRANSFER, and CONVEY by way of Absolute Sale unto the said BUYER, his heirs and assigns, the certain parcel of land together with all the improvements found thereon, free from all liens and encumbrances of whatever nature including real estate taxes as of the date of this sale.

(NAME OF SELLER)                       (NAME OF BUYER)

Seller                                              Buyer

WITH MARITAL CONSENT:

________________________             _________________________
Name of Seller’s Spouse                Name of Buyer’s Spouse

SIGNED IN THE PRESENCE OF:

 

__________________________               ____________________________

 

 

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)
_____________________________ )  SS.

BEFORE ME, a Notary Public for and in the City of ___________________,  personally appeared:

 

Name                           CTC Number               Date/Place Issued

 

(Name of Seller)                      10000000             Jan 15, 20__ / Angeles City

(Name of Buyer)                      10000000              Jan 9, 20__ / Manila

 

Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same are their free act and voluntary deed.

 

This instrument, consisting of (__) pages, including the page on which this acknowledgment is written, has been signed on the left margin of each and every page thereof by the concerned parties and their witnesses, and sealed with my notarial seal.

 

WITNESS  MY HAND AND SEAL on this ___day of __________________20__ at_______________.

 

Notary Public

 

Doc. No. ……..;
Page No. …….;
Book No. …….;
Series of 20__.

D).

DEED OF ASSIGNMENT AND TRANSFER OF RIGHTS

 

 

KNOW ALL MEN BY THIS PRESENTS:

 

This deed, made and entered into this ___ day of __________, 20__ at the City of Manila, by and between:

 

Juan de la Cruz, Filipino Citizen, of legal age, married to Juanita de la Cruz with residence and postal address at 1234 Oak Lane, Standard Subdivision, Quezon City, hereinafter referred to as the “ASSIGNOR”

 

and

 

Pedro San Juan, Filipino Citizen, of legal age, married to Patricia San Juan with residence and postal address at 123A Somerville Plaza Tower, 5678 Mahogany Avenue, Manila, hereinafter referred to as the “ASSIGNEE”.

 

WITNESSETH that –

 

WHEREAS the ASSIGNOR is the buyer of a 2-bedroom unit, located at 18C, Grand Towers Condominium, 234 Taft Avenue, Manila, with an area of SEVENTY EIGHT (78) SQUARE METERS more or less, covered by Condominium Certificate Title No. 98765 of the register of Deeds of Manila, registered in the name of the Bank of the Philippine Islands.;

 

WHEREAS, the ASSIGNOR has offered to assign all his rights, title and interest over the above unit, as referred in said Contract to Sell and the ASSIGNEE hereby accepts the assignment in accordance with the terms herein set forth;

 

NOW, THEREFORE, for and in consideration of the foregoing premises and the sum of ONE MILLION PESOS (1,000,000.00), PHILIPPINE CURRENCY, which the ASSIGNOR hereby acknowledged to have received from the ASSIGNEE, the ASSIGNOR hereby assigns, transfers and conveys unto the ASSIGNEE, all his rights, title and interest to the aforementioned property and and appurtenant interest in the Condominium project pursuant to this Agreementand the ASSIGNEE by these presents hereby accepts the assignment and agrees to be bound by the terms and conditions of the Contract to Sell and the rules and regulations, and restrictions pertaining to the said unit.

 

IN WITNESS WHEREOF, the parties have hereunto set their hands on the date and place first above written.

 

 

 

(GIDEON ORTIZ)                               (DONALDO TRUMPO)

ASSIGNOR                                      ASSIGNEE

 

Signed in the presence of:

 

 

_____________________________                  ______________________________

 

ACKNOWLEDGEMENT

 

Republic of the Philippines)

______________________) S.S

 

BEFORE ME, a notary for and in the City of Manila, personally appeared:

 

Name                       CTC Number                 Date/Place Issued

 

(Juan de la Cruz)                  00000000           January 15, 20__ / Quezon City

(Pedro San Juan)                  00000000            January 21, 20__ / Manila

 

known to me and to me known to be the same persons who executed the foregoing Deed of Assignment and transfer of Rights and acknowledged to me that the same is their free and voluntary act and deed.

 

WITNESS MY HAND AND SEAL, on the date and place first above written.

 

 

Notary Public

Doc.  No.______;

Page No. ______;

Book No.______;

Series of 20____.

E).

EARNEST MONEY RECEIPT AGREEMENT

 

 

Received from (Name of Buyer) with postal address at ( Address), the sum of  (Amount in Words) (P 000,000.00) covered by ABC Bank, check # 00000000 dated January 1, 20__ representing EARNEST MONEY for payment of a Two-Story house and lot located at (Address of Property) covered by T.C.T. No. T-00000.

 

This EARNEST MONEY forms part of the purchase price of (Amount in words) (P 0,000,000.00). The balance and full payment shall be paid on or before __________________.

 

The BUYER hereby reserves the exclusive right to purchase the aforementioned property and the SELLER cannot offer the aforementioned property to any third party until _____________________.

 

Upon full payment, the SELLER shall execute a DEED OF ABSOLUTE SALE in favor of the BUYER, conveying the subject property with full warranty of a legal and valid title as provided by law, free and clear from any liens and encumbrances.

 

Upon execution of the DEED OF ABSOLUTE SALE, the SELLER shall undertake the payment of the Capital Gains Tax. The BUYER shall shoulder the payment of the Documentary Stamps Tax, Transfer Tax, Registration Fee and all other expenses to transfer the title of the property under his name.

 

In case of voluntary cancellation of this agreement by the BUYER without any cause on the part of the SELLER or if the BUYER fails to comply with his obligations mentioned, then the SELLER shall have the right to terminate this agreement in which case the EARNEST MONEY in the amount of (Amount in words) (P 000,000.00) shall be forfeited in favor of the SELLER as liquidated damages.

 

 

January 1, 20_____

 

 

             (SELLER)                                               (BUYER)            

Signature over Printed Name               Signature over Printed Name

 

F).

LEASE CONTRACT

 

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT OF LEASE is made and executed at the City of _____, this day of _______________, 20____, by and between:

 

(NAME OF LESSOR), of legal age, single/married to (Name of spouse if any),   Filipino, and with residence and postal address at (Address), hereinafter referred to as the LESSOR.

 

-AND-

 

(NAME OF LESSEE), Filipino and with residence and postal address at (Address), hereinafter referred to as the LESSEE.

 

WITNESSETH; That

 

WHEREAS, the LESSOR is the owner of THE LEASED PREMISES, a residential property situated at (Address of property to be leased);

 

WHEREAS, the LESSOR agrees to lease-out the property to the LESSEE and the LESSEE is willing to lease the same;

 

NOW THEREFORE, for and in consideration of the foregoing premises, the LESSOR leases unto the LESSEE and the LESSEE hereby accepts from the LESSOR the LEASED premises, subject to the following:

 

TERMS AND CONDITIONS

 

  1. PURPOSES:  That premises hereby leased shall be used exclusively by the LESSEE for residential purposes only and shall not be diverted to other uses. It is hereby expressly agreed that if at any time the premises are used for other purposes, the LESSOR shall have the right to rescind this contract without prejudice to its other rights under the law.

 

  1. TERM: This term of lease is for ONE (1) YEAR. from (Date) to (Date) inclusive. Upon its expiration, this lease may be renewed under such terms and conditions as my be mutually agreed upon by both parties,  written notice of intention to renew the lease shall be served to the LESSOR not later than seven (7) days prior to the expiry date of the period herein agreed upon.

 

  1. RENTAL RATE: The monthly rental rate for the leased premises shall be in PESOS: AMOUNT IN WORDS (P 00,000.00), Philippine Currency. All rental payments shall be payable to the LESSOR.

 

  1. DEPOSIT: That the LESSEE shall deposit to the LESSOR upon signing of this contract and prior to move-in an amount equivalent to the rent for THREE (3) MONTHS or the sum of  PESOS: AMOUNT IN WORDS (P 00,000.00), Philippine Currency.  wherein the two (2) months deposit shall be applied as rent for the 11th and 12th months and the remaining one (1) month deposit shall answer partially for damages and any other obligations, for utilities such as Water, Electricity, CATV, Telephone, Association Dues or resulting from violation(s) of any of the provision of this contract.

 

  1. DEFAULT PAYMENT: In case of default by the LESSEE in the payment of the rent, such as when the checks are dishonored, the LESSOR at its option may terminate this contract and eject the LESSEE. The LESSOR has the right to padlock the premises when the LESSEE is in default of payment for One (1) month and may forfeit whatever rental deposit or advances have been given by the LESSEE.

 

  1. SUB-LEASE: The LESSEE shall not directly or indirectly sublet, allow or permit the leased premises to be occupied in whole or in part by any person, form or corporation, neither shall the LESSEE assign its rights hereunder to any other person or entity and no right of interest thereto or therein shall be conferred on or vested in anyone by the LESSEE without the LESSOR’S written approval.

 

  1. PUBLIC UTILITIES:  The LESSEE shall pay for its telephone, electric, cable TV, water, Internet, association dues and other public services and utilities during the duration of the lease.

 

  1. FORCE MAJEURE: If whole or any part of the leased premises shall be destroyed or damagedby fire, flood, lightning, typhoon, earthquake, storm, riot or any other unforeseen disabling cause of acts of God, as to render the leased premises during the term substantially unfit for use and occupation of the LESSEE, then this lease contract may be terminated without compensation by the LESSOR or by the LESSEE by notice in writing to the other.

 

  1. LESSOR’S RIGHT OF ENTRY:  The LESSOR or its authorized agent shall after giving due notice to the LESSEE shall have the right to enter the premises in the presence of the LESSEE or its representative at any reasonable hour to examine the same or make repairs therein or for the operation and maintenance of the building or to exhibit the leased premises to prospective LESSEE, or for any other lawful purposes which it may deem necessary.

 

  1. EXPIRATION OF LEASE: At the expiration of the term of this lease or cancellation thereof, as herein provided, the LESSEE will promptly deliver to the LESSOR the leased premises with all corresponding keys and in as good and tenable condition as the same is now, ordinary wear and tear expected devoid of all occupants, movable furniture, articles and effects of any kind. Non-compliance with the terms of this clause by the LESSEE will give the LESSOR the right, at the latter’s option, to refuse to accept the delivery of the premises and compel the LESSEE to pay rent therefrom at the same rate plus Twenty Five (25) % thereof as penalty until the LESSEE shall have complied with the terms hereof.  The same penalty shall be imposed in case the LESSEE fails to leave the premises after the expiration of this Contract of Lease or termination for any reason whatsoever.

 

  1. JUDICIAL RELIEF: Should any one of the parties herein be compelled to seek judicial relief against the other, the losing party shall pay an amount of One Hundred (100) % of the amount clamed in the complaint as attorney’s fees which shall in no case be less than P50,000.00 pesos in addition to other cost and damages which the said party may be entitled to under the law.

 

  1. This CONTRACT OF LEASEshall be valid and binding between the parties, their successors-in-interest and assigns.

 

IN WITNESS WHEREOF,  parties herein affixed their signatures on the date and place above written.

 

 

 

(Name of Lessor)                               (Name of Lessee)

LESSOR                                                LESSEE

 

Signed in the presence of:

 

 

_____________________________                  ______________________________

 

ACKNOWLEDGEMENT

 

Republic of the Philippines)

_________________________) S.S

 

BEFORE ME, personally appeared:

 

Name                                 CTC Number             Date/Place Issued

 

(Name of Lessor)                             10000000           February 24, 20__ / Cavite City

(Name of Lessee)                            10000000           January 07, 20__ / Makati

 

Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is their free and voluntary act and deed.

 

This instrument consisting of ____ page/s, including the page on which this acknowledgement is written, has been signed on each and every page thereof by the concerned parties and their witnesses, and and sealed with my notarial seal.

 

WITNESS MY HAND AND SEAL, on the date and place first above written.

 

Notary Public

 

Doc. No.______;

Page No. ______;

Book No.______;

Series of 20___.

G).

OFFER TO PURCHASE

(Real Estate)

 

Mr. GIDEON ORTIZ

MANDALUYONG

 

 

 

Re: Blk.___ Lot___, BONI AVE.MANDALUYONG; with

lot area of _____sqm. more or less; covered

by T.C.T. No. ______________

 

 

Dear Mr. ORTIZ

 

This is to express our firm offer to buy the above stated property through our authorized brokers, BOY Ortiz, subject to the following terms and conditions:

 

Purchase Price PhP: ______________________

 

Terms and Conditions:

1) Upon acceptance of this offer, earnest money in the amount of      amount in words      (Php:________) shall be paid and shall be credited as part of the purchase price.

2) The balance, in the amount of     amount in words    (Php:________) shall be paid in full within 15 working days.

3) The Capital Gains Tax and Broker’s commission shall be for the account of the SELLER, while the Documentary Stamps, Transfer Tax and Registration Fees shall be for the account of the BUYER.

Note: Revise and/or add terms and conditions of your offer. Also, change the names of the parties as applicable to you.

 

If the above terms and conditions are acceptable to you, please signify your conformity by signing on the space provided below.

 

 

Truly yours,

 

 

——————————–

       DONALDO TRUMPO

(Buyer)

 

 

Conforme:

 

 

——————————–

GIDEON ORTIZ

(Seller)

H).

RENT TO OWN CONTRACT

This Contract of Lease with Option to Purchase (Rent-to-Own Contract) made and executed this ____of __________ 20___ Manila, Philippines by and between.

__________________________________, Filipino, of legal age, single/married to, with post address at ________________________, hereinafter referred to as the LESSOR/SELLER.

-AND –

__________________________________, Filipino, of legal age, single/married to, with postal address __________________________, hereinafter referred to as the LESSEE/BUYER.

WITNESSETH:

THAT, for and in consideration of the payment of rent and the faithful compliance by the LESSEE/BUYER of all the stipulations and covenants hereinafter contained, the LESSOR/SELLER has agreed to lease unto the LESSE /BUYER the premises located at _______________________________, City of Manila under the following terms and conditions.

  1. PURPOSE:That the premises hereby leased shall be used exclusively by the LESSE/BUYER for residential purposes only and shall not be diverted to other uses. It is hereby expressly agreed upon that if at any time the premises are used for other purposes, the LESSOR/SELLER shall have the right to rescind this contract without prejudice to its other rights under the law.
  2. TERM: The term of this non–renewable lease is for ______________ months from _____________________ to ________________
  3. RENTAL RATE: The monthly rate for the leased premises shall be in PESOS:  ______________________ [_______________], Philippine currency. All rental payments shall be made payable to ______________________.
  4. DEPOSIT: That the LESSEE/BUYER shall deposit with the LESSOR/SELLER upon signing of this contract and prior to move in an amount equal to ten percent (10%) of the selling price or the sum of PESOS: _____________________________________________________,Philippine currency.
  5. RENTAL PAYMENT:The LESSE/BUYER shall issue, likewise, upon signing of this contract and prior to move in, Thirty (30) post-dated checks to cover monthly rental for the months of _________________ to __________________, each check dated on the _____ day of each month.
  6. DEFAULT IN PAYMENT: In case of default by the LESSEE/BUYER in the payment of the rent, such as when the checks are dishonored, the LESSOR/SELLER, at its option may terminate this contract and eject the LESSEE/BUYER as hereinafter provided. However, the LESSE/BUYER is given seven (7) days grace period within which to settle the account from date rental payment is due. Granting an extension to the aforesaid grace period may not be deemed as a waiver of LESSOR/SELLER right to terminate this contract and eject the LESSE/BUYER but in the event the LESSOR/SELLER so opts to grant a written request for extension, a penalty equivalent to three (3%) percent per month of the rental due, with a fraction of a month considered as one month shall be charged and assessed for delayed payments.
  7. SUB–LEASE: The LESSEE/BUYER shall not directly or indirectly sublet, allow or permit the leased premises to be occupied in whole or in part by any person, form or corporation; neither shall the LESSEE/BUYER assign its rights hereunder to any other person or entity and no right of interest thereto or therein shall be conferred on or vested in anyone by the LESSEE/BUYER without LESSOR/SELLER’s written approval.
  8. LESSE’S VISITORS, etc…: In case of damage to leased premises attributable to the LESSEE/BUYER, agents and/or visitors, repair of the same shall be for the account of the LESSEE/BUYER without prejudice to LESSOR/SELLER’s availment of any other right under the law.
  9. POWER, WATER CONSUMPTION & ASSOCIATION DUES: Power, water and association dues shall be for the account of the LESSEE/BUYER.
  10. OTHER PUBLIC UTILITIES:The LESSEE/BUYER shall pay for its telephone, cable and electrical services and other public services and utilities.
  11. REPAIR AND MAINTENANCE: The LESSOR/SELLER shall deliver the leased as is where is. The LESSEE/BUYER hereby expressly acknowledges that the leased as is where is. The LESSE/BUYER hereby agrees and binds itself to undertake at its exclusive expense all minor and major repairs as may be required to maintain the leased premises in good state of repair, any provisions of law, present or future, or any stipulation in this agreement to the contrary notwithstanding.
  12. IMPROVEMENTS, ALTERATIONS AND RENOVATIONS: The LESSEE/BUYER shall not make any improvements, alternations and renovations in the leased premises without prior written consent of both the Association and the LESSOR/SELLER. It is understood that all permanent improvements shall be owned by the LESSOR/SELLER and may not be removed without the express and written consent of the LESSOR/SELLER.
  13. INJURY OR DAMAGE: The LESSEE/BUYER hereby assumes full responsibility for any damage which may be caused to the person or property of third person/s while remaining either casually or on business in any part of the premises leased. LESSEE/BUYER further binds itself to hold the LESSOR/SELLER harmless and free from any claim for such injury or damage. Provided, however, that the LESSOR/SELLER shall make necessary actions to correct said deficiencies to ensure that premises are in good and tenantable condition.
  14. DISTURBANCE OF POSSESSION: Disturbance or discontinuance of possession of the LESSEE/BUYER due to “force majeure” shall confer nor right of any kind to the LESSEE/BUYER as against the LESSOR/SELLER, by reason of inconvenience, annoyance or injury to business arising out of the necessity of repairing any portion of the leased premises.
  15. GOVERNMENT REGULATIONS:The LESSEE/BUYER, shall, at its own expense and risks, comply with all the laws, ordinances, regulations and orders of any agency of the government, national or local, affection or pertaining to the leased premises and to any effects or articles which said LESSEE/BUYER may have in its possession therein.
  16. ABANDONMENT OF PREMISES: Should the LESSEE/BUYER abandon the leased premises for a period of THIRTY (30) DAYS or vacate the premises before expiration of this Contract of Lease without notifying the LESSOR/SELLER and check payment for the current month is dishonored, the LESSOR/SELLER’S may immediately re-enter the leased premises and this lease shall thereon be automatically terminated.
  17. BREACH OF CONDITIONS: In case of breach by the LESSEE/BUYER of any of the conditions and covenants of this lease as herein stipulated, the LESSOR/SELLER at its option, may forthwith terminate and cancel this lease and the LESSEE/BUYER shall be liable for any and all damages as a result of such default and termination. Forfeiture of whatever rental desists and advances shall apply in case the LESSEE/BUYER violates any of the provisions in the contract. Forfeiture shall likewise apply should the LESSEE/BUYER fails to exercise his option to purchase after the expiration of this contract.
  18. NON-WAIVER OF LESSOR’S RIGHT: Failure of the LESSOR/SELLER to enforce strict performance by the LESSEE/BUYER of any of the terms, conditions and covenants of this agreement shall not be construed as waiver of any right or remedy that the LESSOR/SELLER’S may have, nor shall it be deemed as a waiver of any subsequent breach of the terms, conditions, and covenants contained therein. No waiver by the LESSOR/SELLER of its rights hereunder shall be deemed to have been made unless expressed in writing and signed by the LESSOR/SELLER.
  19. EXPIRATION OR CANCELLATION OF LEASE:At the expiration of the term of this lease or cancellation thereof, as herein provided, the LESSEE/BUYER will promptly deliver to the LESSOR/SELLER the leased premises with all corresponding keys and in as good and tenantable condition as the same is now, ordinary wear and tear excepted, devoid of all occupants, movable furniture, articles and effects of any kind.  Non-compliance with the terms of this clause by the LESSEE/BUYER will give the LESSOR/SELLER the right, at latter’s option, to refuse to accept the delivery of the premises and to compel the LESSEE/BUYER to pay therefrom at the same rate as herein provided plus an additional sum equal to Twenty Five (25%) percent thereof as penalty until the LESSEE/BUYER shall have complied with terms hereof. The same penalty shall, likewise, be imposed in case the LESSEE/BUYER shall refuse to leave the leased premises after the expiration of this Contract of Lease or the termination for any reason whatsoever.
  20. OPTION TO PURCHASE: For good & valuable consideration, the receipt whereof is hereby acknowledge from the LESSEE/BUYER.  The LESSOR/SELLER hereby extends an option to the LESSEE/BUYER to purchase for the amount of PESOS: ___________________________________________ [P __________________]of Lease on the 18thmonth or the period from 1stto _____ of __________, _______. The LESSEE/BUYER, at his/her/its exclusive option, conditioned on faithful compliance with all payments and undertakings contained herein, may convey his/her/its decision to avail of option to purchase in writing to the LESSOR/SELLER who thereafter shall credit all rental payments up to the __________ (___) month and the initial deposit stated above to down payment.
  21. BALANCE AFTER THIS LEASE AGREEMENT: If LESSEE/BUYER complied with all terms and conditions stated above, inclusive of payment of realty taxes, power, water and association dues, the outstanding balance of the LESSEE/BUYER shall be 70% of the Total Selling Price amount equivalent to PESOS: _____________________________________ [P_____________],Philippine currency. The LESSEE/BUYER hereby agrees to execute the Deed of Absolute Sale upon payment in full of the TOTAL PURCHASE PRICE. Failure of the LESSEE/BUYER to exercise his/its right to purchase within the period of 30 months from the execution of this contract shall mean forfeiture and abandonment of his right to purchase. In such case, all payment made during the term of this lease are considered rentals.
  22. TRANSFER EXPENSES:Documentary stamp tax, capital gain tax, registration fees, transfer tax, and other necessary expenses connected with the execution and registration of the sale shall be for the account of and paid by the LESSEE/BUYER.
  23. TAXES, UTILITIES AND OTHER ASSOCIATION IMPOSITIONS:For the duration of this lease, LESSEE/BUYER shall pay the Realty Taxes. However, should the LESSEE/BUYER not exercise the option to purchase, LESSOR/SELLER shall reimburse the LESSEE/BUYER of all the taxes, exclusive of penalties for delayed payments, if any, it had paid as well as the start-up fund of the Homeowners Association.
  24. JUDICIAL RELIEF AND PENALTY:Should any one of the parties herein be compelled to seek judicial relief against the other, the losing parties shall pay an amount equivalent to One Hundred Percent (100%) of the amount claimed in the compliant as attorney’s fees which shall in no case be less than P 100,000.00 pesos in addition to other cost and damages which the said party may be entitled to under the law, to recover from the other party. Provisions of penal character in this Contract of Lease shall be considered as cumulative to the relief granted by this section.
  25. RIGHTS AND INTERESTS:The rights and interests of the LESSOR/SELLER subject under this instrument shall be fully assignable by the LESSOR/SELLER subject only to previous written notice thereof to the LESSEE/BUYER.
  26. FORFEITURE OF DEPOSIT:Forfeiture of whatever rental deposit and advances shall apply to any of the following:
  27. When the LESSEE/BUYER is in default in payment for three (3) months. In such a case, the LESSOR/SELLER shall have the right to prohibit entry of the LESSEE/BUYER, visitors, guests and his employees in the premises and the right to   padlock the leased premises until indebted is satisfied;
  28. When LESSEE/BUYER pre-terminates lease with or without cause;
  29. When LESSEE/BUYER violates any of the provisions of this contract; and
  30. When the LESSEE/BUYER fails to exercise his/her option to purchase.

 

  1. PENAL PROVISION:The parties agree that all covenant and agreements herein contained shall be deemed conditions as well as covenants that if default or breach be made of any such covenants and conditions, then this lease may be terminated and cancelled and the party in breach shall be liable for any and all damages, actual and consequential, resulting from such breach or termination; provided however, that no default shall be declared under this lease unless the party in default has given written notice to cure such default within thirty (30) days. In the event of violation of this contract, other than the non-payment of rentals, the party in breach must immediately take remedial steps to cure the breach not later than thirty (30) days.
  2. RIGHT OF ENTRY: LESSOR/SELLER or its authorized agent/s shall, after giving due notice to the LESSEE/BUYER, have the right to enter the premises in the presence of the LESSEE/BUYER or its representative at any reasonable hour to examine the same or to make repairs therein or for the operation of regular maintenance of the building or for any other lawful purpose which it may deem necessary.

This RENT TO OWN CONTRACT (CONTRACT OF LEASE WITH OPTION TO PURCHASE) shall be valid and binding, between the parties, their successors-in-interest and assigns. No amendment of the terms of the instrument shall be effective unless in writing and signed by the parties therein.

IN WITNESS WHEROF, parties herein have affixed their signatures on the date and place first above written.

__________________________                           _______________________

[Name]                                                       [Name]

LESSOR/SELLER                                       LESSEE/BUYER

 

SIGNED IN THE PRESENCE OF:

 

__________________________                           _______________________

ACKNOWLEDGEMENT

Republic of the Philippines)

_________________________) S.S

BEFORE ME, a Notary Public, this   _____ day of ____________, 20___ personally appeared the following to witness:

NAME                             CTC No.            DATE ISSUED        PLACE ISSUED

——————————-       —————      ———————      ———————

——————————-       —————      ———————      ———————

Known to me to be the same persons who have executed the foregoing, instrument and acknowledged to me that the same is of their own free will and voluntary act and deed as well as of the corporation herein represented.

This instrument consisting of ______ (__) pages, including the page on which this acknowledgement is written, has been signed on the left margin of each page and every page thereof by the parties and their instrumental witnesses and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand, the day, year and place above written.

Doc. No.  ______:

Page No.  ______:

Book No. ______:

Series No 20___.

 

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TAXES INVOLVED IN A SALE OF REAL ESTATE PROPERTY

  • Seller’s Responsibility:
    1. Income tax, if the property to be sold is an ordinary asset
    2. Value-added tax/Percentage tax, if the property to be sold is an ordinary asset
    3. Creditable Withholding Tax, for real properties sold by habitually engaged real estate sellers
    4. Capital Gains Tax, if the property to be sold is a capital asset
    5. Documentary Stamp Tax
  • Buyer’s Responsibility:
    1. Transfer Tax
    2. Registration Fee
  • INCOME TAX

    The proceeds from the sale of real properties held primarily for sale to customers in the ordinary course of trade or business or sale of real properties classified as ordinary assets of the seller who is not habitually engaged in real estate business, shall be included in the seller’s global income. This forms part of the seller’s other income subject to 30% regular income tax or 2% minimum corporate income tax if the seller is a corporation or a graduated tax rate at a maximum rate of 32% if the seller is an individual.

    Ordinary assets are assets which qualify in any of the following types of property:

    • included in the stock of trade or inventory of the taxpayer in a normal business operation at the close of the taxable year.
    • real estate properties primarily sold to customers by the taxpayer in normal course of business
    • real estate properties used in business which are subject to the allowance for depreciation
    • real estate properties which are used for normal course of business by the tax payer

    VALUE-ADDED TAX (VAT)

    There shall be imposed a 12% value-added tax (VAT) on real estate sales of those who are engaged in the business of selling, developing, leasing or sub-leasing of real property and those licensed to engage in real estate brokerage business based on their commission. However, in pursuance to RR No. 4-07, even if the real property is not primarily held for sale to customers or held for lease in the ordinary course of trade or business but the same is used in the trade or business of the seller, the sale thereof shall be subject to VAT being a transaction incidental to the taxpayer’s main business.

  • Please note that real estate sales that are exempt from VAT based on the above threshold shall be subject to 3% percentage tax. However, if the seller is a VAT-registered person, the sale of his ordinary asset shall be subject to VAT even if the sales made are within the prescribed threshold.

    Further, a person should register as a VAT entity if his gross annual sales and/or receipts exceed ₱1,919,500.00 in a year.

    The tax base of 12% output VAT is the highest among the (1)selling price, (2)Bureau of Internal Revenue (BIR) zonal value, and (3)assessed value by the provincial/city assessor and the time of payment will depend whether the sale is an installment sale or a cash sale.

    CAPITAL GAINS TAX

    Capital gains presumed to be realized from the sale of a real property not categorized as ordinary asset is subject to a tax of six percent (6%) based on the highest among the (1)selling price, (2)Bureau of Internal Revenue (BIR) zonal value, and (3)assessed value by the provincial/city assessor.

    Conditionally exempt from paying Capital Gains Tax:

    The sale of a principal residence is exempt from capital gains tax. The said principal residence pertains to the seller’s family home or the dwelling house, including the land on which it is situated, where the husband and wife or an unmarried individual, whether or not qualified as head of family, and members of his family reside. In order for the sale to be qualified as exempt, the following conditions should be met:

    1. The entire proceeds from the sale of the principal residence should be fully utilized in acquiring or constructing a new principal residence within 18 calendar months.
    2. This exemption can only be exercised once every 10 years
    3. The BIR commissioner should be duly notified through a prescribed return 30 days from the date of sale or disposition of the tax payer’s intention to avail of the tax exemption.
    4. If the proceeds from the sale have not been fully utilized, the portion of the gain from the sale is subject to 6% capital gains tax.
    5. The buyer of the principal residence should withhold from the seller of the principal residence the supposed 6% capital gains tax. This amount should be placed in an escrow agreement between the concerned Revenue District Office and the seller.

    For the last condition above, the 6% equivalent amount shall only be released once all the preceding conditions are met. The escrow agency shall require the seller of the principal residence a certification before it can release the amount to the seller of the principal residence.

    Further, the following are also exempted from paying capital gains tax:

    • Dealer in securities, regularly engaged in the buying and selling of securities
    • An entity exempt from the payment of income tax under existing investment incentives and other special laws
    • An individual or non-individual exchanging real property solely for shares of stocks resulting in corporate control
    • A government entity or government-owned or controlled corporation selling real property
    • If the disposition of the real property is gratuitous in nature
    • Where the disposition is pursuant to the CARP law

    – from BIR

    DOCUMENTARY STAMP TAX

    The documentary stamp tax is an excise tax levied on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, rights, or property incident thereto.

    The amount of tax is either fixed or based on the par or face value of the document or instrument. In the case of the sale of real estate properties, the rate shall be 1.5% based on the highest among the (1)selling price, (2)Bureau of Internal Revenue (BIR) zonal value, and (3)assessed value by the provincial/city assessor.

    TRANSFER TAX

    Transfer tax is the tax imposed on any mode of conveying the ownership of a real property, either through sale, donation, barter, or any other mode. The tax rate varies depending on the location of the real property as presented below:

    • If the property is located in the province, tax must not exceed 50% of the 1% of the tax base stated above.
    • If the property is located in Metro Manila or any cities in the Philippines, tax must not exceed 75% of the 1% of the tax base state above.
    • Penalty of the failure to pay is 25% of the amount due plus interest of 2% per month, not to exceed 72%.

    Further, the tax is based on the highest among the property’s (1)selling price, (2)Bureau of Internal Revenue (BIR) zonal value, and (3)assessed value by the provincial/city assessor.

    CREDITABLE WITHHOLDING TAX

    Creditable withholding tax (CWT) is the tax which is withheld by the buyer/withholding agent from his payment to real estate dealers, developers, operators and persons or entities who are considered to be habitually engaged in real estate business, and which tax is creditable against the income tax payable of the seller.

    Thus, when the real estate sold is a capital asset to the seller, no creditable withholding tax shall be imposed and his income from the sale of real estate will be subject to capital gains tax.

    Under the tax rules, the following are the percentages to be withheld:

    Seller Tax rate Threshold
    The seller/transferor is habitually engaged in the real estate business as per proof of registration with the HLURB or the HUDCC or other satisfactory evidence (for example, he/it consummated during the preceding year at least six taxable real estate transactions, regardless of amount) 1.5% ₱500,000 and below
    3.0% Over ₱500,000 but not more than ₱2,000,000
    5.0% Over ₱2,000,000
    The seller/transferor is not habitually engaged in the real estate business (but the real estate sold is an ordinary asset) 6.0% Any amount
ByGideor Properties

Planning to move in Mandaluyong ,buy a townhouse maybe? Here are some ofthe elementary & college schools

ELEMENTARY SCHOOLS :

1.LOURDES SCHOOL OF MANDALUYONG

Shaw Blvd.,Mandaluyong  City

2. LA SALLE GREENHILLS

343 Ortigas Avenue
Mandaluyong, Metro Manila

3. . St. Therese Educational Private School

Bumatay Street,mandaluyong City

4. Good Sherpherd Christian School

711 Isaac Lopez Street,Mandaluyong city
COLLEGES :
1.RIZAL TECHNOLOGICAL UNIVERSITY
2. DON BOSCO TECHICAL COLLEGE
3. ARELLANO UNIVERSITY IN MANDALUYONG
4. JOSE RIZAL UNIVERSITY

 

ByGideor Properties

REAL ESTATE ABBREVIATIONS

Real Estate Acronyms commonly used in the Philippines

AP – Asking price

APT – Apartment

ARV – After Repair Value

ATS – Authority to sell

AV – Appraised Value

BLLM – Bureau of Lands Location Monument

BR – Bedroom

CAR – Certificate Authorizing Registration

CCR – Cash on Cash Return

CCT – Condominium Certificate of Title

CF – Cost Factor

CG – Car Garage

CGT – Capital Gains Tax

CLOA – Certificate of Land Ownership Award

CLOP – Contract of Lease with Option to Purchase

COMM – Commission

CONC – Concrete

COS – Certificate Of Sale

CR – Comfort Room

CRB – Certified Real estate Broker

CRESR – Comprehensive Real Estate Seminar and Review

CTC – Community Tax Certificate

CTS – Contract-To-Sell

CWT – Creditable Withholding Tax

DBO – Direct Buyers Only

DOAS – Deed Of Absolute Sale

DOM – Deed Of Mortgage

DP – Down Payment

DR – Door

DST – Documentary Stamps Tax

EOP – Exclusive Option to Purchase

FA – Floor Area

FMV – Fair Market Value

FSBO – For Sale By Owner

GF – Ground Floor

GFI – Government Financial Institution

HL – House and Lot

HOA – Home Owners Association

HVAC – Heating Ventilation and Air Conditioning

ISP – Indicative Selling Price

LA – Lot Area

LOG – Letter Of Guarantee

LOI – Letter Of Intent

LRA – Land Registration Authority

LTCP – Land Titling Computerization Project

LTS – License To Sell

LTV – Loan To Value

MA – Monthly Amortization

MAO – Maximum Allowable Offer

MBP – Minimum Bid Price

MBR – Masters Bed Room

MC – Manager’s Check

MLS – Multiple Listing Service

MOA – Memorandum Of Agreement

MR – Maids Room

MRI – Mortgage Redemption Insurance

MV – Market Value

NEOP – Non Exclusive Option to Purchase

NOI – Net Operating Income

NROC – Non Refundable Option Consideration

OCT – Original Certificate of Title

OP – Over Pricing, Option to Purchase

PITI – Principal Interest Taxes and Insurance

PC – Purchase Contract

PS – Parking Slot

RD – Registry of Deeds

RA – Republic Act

RE – Real Estate

REB – Real Estate Broker

REI – Real Estate Investing

REIT – Real Estate Investment Trust

REM – Real Estate Mortgage

RESA – Real Estate Service Act

REO – Real Estate Owned

RFO – Ready For Occupancy

RM – Room

ROI – Return On Investment or Return Of Investment

ROPA – Real and Other Properties Acquired

ROPOA – Real and Other Properties Owned or Acquired

RPT – Real Property Tax

RTO – Rent-To-Own

SPA – Special Power of Attorney

SQM – SQuare Meters

TRAIN – Tax Reform for Acceleration and INclusion

TB or T&B – Toilet and Bath

TCT – Transfer Certificate of Title

TH – Town House

TT – Transfer Tax

VAT – Value Added Tax

ZV – Zonal Value

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MOVING IN TO A NEW PLACE

BEFORE YOU MOVE IN:

 “BORROW” YOUR BROKER /SALESPERSON CONTACT

Who needs friend recommendations when you can use your trusted real estate agent’s list? Most agents have plumbers, electricians, and more that they recommend regularly. “Ask your BROKER/AGENT for a list of preferred providers so you have it handy in the future when you need something,”

 PLAN A PARTY

Scheduling a housewarming party two to four weeks after you move in gives you an incentive — and a deadline — to get all those boxes unpacked. Once the invites are out there, you’re committed. It’s the homeowner’s equivalent of telling a friend you’ll meet her for a Pilates class. In many aspects of life, accountability is key. And if the result is a party in your newly organized house? All the better.

 CONNECT YOUR INTERNET

This needs to be booked in at least three weeks before you move. Internet service providers are often booked weeks in advance so you need to do this as soon as possible. Living in a new house without internet can be very frustrating and inconvenient so save yourself the stress and book in early.

UP DATE FRIENDS AND RELATIVES OF YOUR NEW ADDRESS

Although it’s important to make sure you officially change your address with relevant businesses it’s also important to update your friends and relatives. Send around a text message or email notifying people of your new address and phone number so the important people in your life can contact you when you start living at your new residence.

 CHANGE YOUR ADDRESS.

It’s best to do this as early possible, so you don’t have to rely on the new tenants of your old home to forward your mail. Notify the post office immediately of your new address and then contact businesses and government bodies individually and promptly to make sure your mail is going to the correct place.

HAVE YOUR NEW HOUSE CLEANED.

Sometimes a house will be empty for an extended period of time which means it will need another clean before you move in. Make sure you clean it again before moving in.

BE FAMILIAR WITH YOUR CIRCUIT BREAKER AND WATER GATE VALVES.

After locating the breaker box,  turned off the power only  to the area that has a problem so you wouldn’t electrocute yourself.

It’s a good idea to figure out which fuses control what parts of your house .

ByGideor Properties

REAL ESTATE ACRONYMS AND ABBREVIATION

ATS – Authority to sell

AV – Appraised Value

BLLM – Bureau of Lands Location Monument

BR – Bedroom

CAR – Certificate Authorizing Registration

CCT – Condominium Certificate of Title

CGT – Capital Gains Tax

CLOA – Certificate of Land Ownership Award

CLOP – Contract of Lease with Option to Purchase

COMM – Commission

COS – Certificate Of Sale

CR – Comfort Room

CRB – Certified Real estate Broker

CRESR – Comprehensive Real Estate Seminar and Review

CTC – Community Tax Certificate

CTS – Contract-To-Sell

CWT – Creditable Withholding Tax

DBO – Direct Buyers Only

DOAS – Deed Of Absolute Sale

DP – Down Payment

DR – Door

DST – Documentary Stamps Tax

EOP – Exclusive Option to Purchase

EAR – External Appraisal Report

FA – Floor Area

FMV – Fair Market Value

FSBO – For Sale By Owner

GF – Ground Floor

GFI – Government Financial Institution

HL – House and Lot

HOA – Home Owners Association

HVAC – Heating Ventilation and Air Conditioning

ISP – Indicative Selling Price

LA – Lot Area

LOG – Letter Of Guarantee

LOI – Letter Of Intent

LRA – Land Registration Authority

LTCP – Land Titling Computerization Project

LTS – License To Sell

MA – Monthly Amortization

MAO – Maximum Allowable Offer

MBP – Minimum Bid Price

MBR – Masters Bed Room

MC – Manager’s Check

MLS – Multiple Listing Service

MOA – Memorandum Of Agreement

MR – Maids Room

MRI – Mortgage Redemption Insurance

MV – Market Value

NEOP – Non Exclusive Option to Purchase

NOI – Net Operating Income

OCT – Original Certificate of Title

OP – Over Pricing, Option to Purchase

PITI – Principal Interest Taxes and Insurance

PC – Purchase Contract

PS – Parking Slot

RD – Registry of Deeds

RA – Republic Act

RE – Real Estate

REB – Real Estate Broker

REI – Real Estate Investing

REIT – Real Estate Investment Trust

REM – Real Estate Mortgage

RESA – Real Estate Service Act

REO – Real Estate Owned

RFO – Ready For Occupancy

RM – Room

ROI – Return On Investment or Return Of Investment

ROPA – Real and Other Properties Acquired

ROPOA – Real and Other Properties Owned or Acquired

RPT – Real Property Tax

RTO – Rent-To-Own

SPA – Special Power of Attorney

SQM – SQuare Meters

TRAIN – Tax Reform for Acceleration and INclusion

TB or T&B – Toilet and Bath

TCT – Transfer Certificate of Title

TH – Town House

TT – Transfer Tax

VAT – Value Added Tax

ZV – Zonal Value

ByGideor Properties

THE ORIGIN OF MANDALUYONG

The Origin of “Mandaluyong”
There are different stories on the origin of the ancient name “Mandaluyong”.

Legend says that the city was named after the romance of a tribal couple, Manda and Luyong. Manda was a lovely daughter of a Barangay chieftain, while Luyong was a Maharlika despised by Manda’s father.

As was the custom at that time, the maiden’s hand was given to whoever wins a series of tribal competitions in the barangay. Luyong emerged as the victor and the couple was eventually married, amidst the objection of Manda’s father. Thereafter, the couple settled in a place that was later called Mandaluyong, a literal concoction derived from their names.

Another story says that the place was named from Luyong, a kind of tree that was abundant in the place and from which beautiful canes and home furniture were made of. Still, another story says that during the Spanish regime, the place was called Madaluyong to describe its rolling terrain which resembles giant waves of the sea. The consonant ‘n’ was later affixed by some Spanish writers, hence, the name Mandaluyong.

Zaniga
Lying on the lowlands adjoining Hagdang Bato is Saniga which used to be a marshland teeming with various fruit-bearing and hardwood trees. The place was home to many local heroes who gallantly fought during the Spanish, American and Japanese occupations. Thus, some of its streets are named after them like Capt. Magtoto St., Capt. Gabriel St., and Pvt. E. Reyes St.

During the 1960’s and 70’s, progress gave way to concrete roads and houses sprouted in neighboring areas. This neighborhood was called New Zaniga Subdivision, while the original Saniga was renamed Old Zaniga.

ByGideor Properties

EVICTION

EVICTION :

Rental law in the Philippines is much different than that in the United States and the process to evict a tenant is much different as well. The land owner has certain obligations to take into consideration before considering eviction if the tenant has withheld rent. The land or property owner must be in 100% of the law before you can start the process of eviction and the unit must be habitable; plumbing, electrical, heating and hot water must all be working.

The property owner must also comply with all health laws, building statutes and homeowners association regulations prior to beginning any eviction process. The property owner can not change the locks of any unit to keep the tenants out and will face serious fines, jail or both if this occurs. A property owner must deliver a three day notice, giving the renter(s) three business days, to leave of their own accord. If the tenant pays rent, if they are being evicted due to non-payment of rent, then the situation has been resolved. But if the tenant does not pay rent or leave the property then the issue is taken up in the court system, which is expensive for both parties and takes up valuable time.

A landlord may evict a tenant for non-payment of rent after the third month of no rent payment with the above mentioned three day notice. After which the land owner must sue the tenant, wait for a response from the tenant or a writ from the courts stating abandonment. Only the police can evict a tenant under court order and if the land owner decides to take the matter into their own hands then they will face serious consequences for their actions, which may include reimbursement to the tenant of their deposit.

Other than non-payment of rent a property owner can evict a tenant for subleasing the unit without prior written consent, the landlords need for the property for personal use and repairs needed to be done to the unit. If the property owner is evicting the tenant to gain the property for personal use the landlord must give the tenant three months formal notice delivered by certified mail. For repairs the ejected tenant has first rights to rent the unit again.

If the property has been condemned then the property owner must give a fifteen day notice to leave the rental unit. The tenant has ten days to file a permit to reclaim the property and the courts must decide within 30 days to evict; (appeals, counter appeals and delays may take up to 164 days to evict a tenant.

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HOW TECHNOLOGY CHANGED THE BUYING AND SELLING REAL ESTATE

ON LINE LISTINGS – Buyers tend to look first at websites for residential,commercials,sales or rentals.

MOBILE APPS – On line is today’s generation tool.Loan Calculator is one example it calculate what your monthly amortization would be.

VIDEOS – this gives the buyers to see it before actually visiting the site.

SOCIAL MEDIA – social media marketing has become the source of advertisement

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READY FOR OCCUPANCY TOWNHOUSES AND TIPS IN BUYING

 

 

STATUS:

UNITS ARE FULLY CONSTRUCTED.

20% – 30% DOWNPAYMENT IS REQUIRED.

LOAN TAKE OUT IS A MUST.

VISIT THE ACTUAL SITE.

CHOOSE A UNIT FROM WHAT IS AVAILABLE.

MOVE IN AS SOON DOWN PAYMENT IS SETTLED AND  LOAN PROCEEDS IS AVAILABLE.

 

Tips when Buying an RFO ( townhouse or house and lot).

  • Visit the site of your choice and inspect the unit.
  •  Ask the residents in the neighborhood about the pros and cons of living the area.
  •  Check the Deed of Restriction.
  •  Choose a developer who had decades of experience in building construction.
  •  Deal with a licensed broker or verified sales agent
  •  Have your documents ready
  •  Get pre-approved from a financing institution if you need a home loan.

“CALL ME,EMAIL ME,OR GIVE ME YOUR CONTACT NUMBER AND TIME YOU WANT TO DISCUSS A TOWNHOUSE I’M SELLING”

0927 681 6281

0932 357 4697

0908 414 3680

EMAIL :ginotz.islander77@gmail.com

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