Continuation - A Broker’s Day... Title Transfer in GCQ

The new (ab)normal in transferring real estate titles in Metro Manila, particularly in Mandaluyong City Registry of Deeds. It would have helped in they posted in their office that they intended to accept only a few registrants so everyone is informed and no time and money is wasted. During GCQ we plan our trips as there are transport options available.

What could have been a simple government transaction is taking months to accomplish.

A Broker’s Day of Transactions in GCQ

TRANSACTING REAL ESTATE DURING GCQ
(General Community Quarantine)

Transferring  a real estate title during quarantine can be a hassle especially when Registry of Deeds among cities have different GCQ standards and there is not much advance information you can get. Normally, government offices are open even with skeleton forces, sometimes with employees alternating going to offices. In this case when we went there on June 11, 2020, a Thursday, 11 days after GCQ is enforced, this Mandaluyong RD is still closed and we gathered that will be open on June 16, Tuesday yet. Good that I have another transaction in Makati -- that is filing of my ITR (Income Tax Return) in BIR. We just have to keep a positive disposition and keep going. There is not much we can do with these government offices but do the best within our control -- how we deal with it.

Authentic Japanese House for Sale in Quezon City

                  

This video was taken during this house's construction phase with the presence of Japanese engineers onsite to oversee quality of work. Now this property is ready for occupancy, ideal even for a big family.

Not an easy feat to build to build this remarkable innovative, smart house using Japanese technology with the best materials available in the market today, some of which are even imported from Japan, to last for more than one's lifetime. A perfect heritage home in future!

Japan's premium home builder brings to the Philippines this advanced innovative house model now ready for occupancy to be delivered semi-furnished with complete air-conditioning system and light fixtures. Because of its advanced features, this house took longer time to build. Why? Because it is beyond ordinary. The steel lift garage and gate alone is one of its kind and is custom-made only for this project and was shipped from Japan.

HOUSE FEATURES:
Lot Area: 260 sq.m.
Floor Area: 320 sq.m.
3-storey plus roofdeck
4 Bedrooms
3 Full Toilet and Bath
Maid's room outside of main house, with own toilet and bath
2 car garage

• Living area
• Dining area
• Main kitchen
• Powder room
• Multi-purpose room
• Maid's room with own toilet and bath (separate from main house)
• 2-carport garage
• Wood deck
• Utility area with service kitchen
• Master's bedroom with toilet and bath
• 2-Bedrooms with common toilet and bathroom
• Attic
• Roof deck

True value for money at Php29,600,000.00 only

To see is to appreciate. Schedule a viewing now and let our Japanese engineer explain why this remarkable house is different from any other.

For more information and viewing schedule, please contact us at mobile +63.915.6978008 (SMS/Viber/WhatsApp) or email us at everra@gmail.com.

PICTURE GALLERY

Artist's perspective of house interior

Actual picture from the second level of house

Actual picture

Kitchen

Kitchen

Tatami room

Tatami room

Second floor leading to third level

For Sale in Makati Palace Hotel - Furnished Studio with Parking

FOR SALE IN MAKATI PALACE HOTEL

A friend of mine is selling her personal unit with parking in Makati Palace Hotel  located in prime area of P. Burgos St., Brgy. Poblacion, Makati City. Units in this development are enrolled in hotel pool and may be rented out as a full service apartment. Or prospective buyer has the option to rent out through Airbnb or other room rental services. 

This hotel has 24/7 concierge service with amenities such as restaurant, swimming pool, wellness spa, gym, and security. Transportation is very accessible with round the clock accessibility to public utility vehicle such as taxis and jeepneys and hailing services like Grab. 

BRIEF DESCRIPTION

Here is brief description of unit for sale:

Floor Area: 28.85 square meters or 310.43 square feet

Parking Area: 12.50 sq.m. or 134.50 square feet

YOUTUBE REVIEW

Check out this review in YouTube, click link to view:

FEATURES AND AMENITIES 

Restaurant

Morning buffet 

Swimming pool

VICINITY MAP

THE UNIT

Furnished with pictureque view of Rockwell Center, Makati City

2 Beds for hotel use

Bathtub

Lavatory

Hotel Entrance

Entrance

Unit with view of Rockwell Center

This unit with parking is being sold at a very competitive price of Php3,900,000.00 only. In Makati, parking alone costs more than a million bucks so this is already a very good deal. 

For more information, please SMS/ Viber / WhatsApp: +63.915.6978008 or email everra@gmail.com

For pictures, CTTO

For Lease: Office Spaces in Mandaluyong City

OFFICE UNITS FOR SALE OR FOR LEASE

Location: Mandaluyong City

This is a PEZA accredited building, meaning BPO tenants can get various tax incentives such as income tax holiday. It has superior views of Wack Wack Golf and Country Club, Marikina and Antipolo mountains, Laguna De Bay and Manila Bay. Transportation is not a problem because of its close proximity to EDSA and MRT Stations. It has provisions for 6,000 fiber optic lines that is perfect for telecommunications requirements. In addition, the building is equipped with 3 MW Back-up generators assuring no brownouts or 100 per cent power back up assuring no business interruption in case of power failures in the city. It has 6 level parking structures and 2 basement parking for guests.

CAPITAL GAINS TAX RETURN (CGT)

Capital Gains Tax (CGT) is normally to the account of the Seller in the sale of real estate.

Here is information from Bureau of Internal Revenue (BIR) when filing Capital Gains Tax (CGT) Returns 

CAPITAL GAINS TAX RETURN (CGT)
(For Onerous Transfer of Real Property Classified as Capital Asset - both Taxable and Exempt)

Checklist of Documentary Requirements:
Important:

1. Processing of transactions commence only upon submission of COMPLETE DOCUMENTS.
2. Mark "✓"  for submitted documents and "x" for lacking documents.

Mandatory

☐  TIN of Seller/s and Buyer/s

☐  Notarized Deed of Absolute Sale / Deed of Transfer at the time or nearest to the date of transaction issued by the Local Assessor's Office for land and improvement

☐  Certified True Copy/ies of Original / Transfer / Condominium Certificate/s of Title (OCT/ TCT/ CCT)

☐  Duly notarized Special Power of Attorney (SPA) from the transacting party/ies if the person signing is not one of the parties to the Deed of Transfer

☐  Sworn Declaration of No Improvement by at least one (1) of the transferees of Certificate of No Improvement issued by the Assesor's Office, if applicable.

☐  Official Receipt /Deposit Slip and duly validated returns as proof of payment of taxes

☐  Secretary's Certificate or Board Resolution approving the sale/transfer of the real property and indicating the name and position of the authorized signatory to the Deed of Sale / Assignment, if the seller/ transferor is a corporation

Other Additional Requirements, if applicable:

☐  Special Power of Attorney (SPA), if the person transacting / processing the transfer is not a party to the transaction

☐  Certification from the Philippine Consulate if document is executed abroad

☐  Location Plan/ Vicinity map if zonal value cannot be readily determined from the documents submitted

☐  Certificate of Exemption /BIR Ruling issued by the Commissioner of Internal Revenue or his authorized representative, if tax exempt

☐  Such other documents as may be required by law/ rulings / regulations/ etc

For Antedated Sales
☐  Certified True Copy/ies of Deedof Sale / Assignment / Exchange issued by the Clerk of Court of City / Municipality where the Notary Public is registered or certification of notarization from the National Archives Office.

Reviving My Non-Life Insurance Business

In 2000 got my non-life insurance license when I was enjoined by some friends to try it, attended a full course in General Non-Life Insurance with a grade that did not require me to take the regular examination from the Insurance Commission. After a few months, the company, Country Bankers Insurance Corporation, through some boss asked me to give a report on how much income I was able to generate for the company. Even I was surprised after final auditing that it has reached plus or minus a million pesos at the time. I was lucky then an overseas employment company got all their repatriation insurances for their OFWs from me, aside from many other non-life insurance businesses.

    

Tried my luck in another field, real estate because heard agents make good money in selling properties so I applied and was accepted and from a short stint in a company, applied again to another. Through trial and error with no mentor, I learned the ropes of the trade.

Then a friend mentioned of a real estate seminar in Makati and suggested that I try it just to learn more. For only about P5,000 or so for a price, tried the course, attended several sessions not knowing that on the following Sunday there will be an exam! An exam? My seminar classmates were talking of an exam and had no idea what this exam was all about. Learned that it was a DTI exam for some licensure or something. Geesh, and to think there were days I was absent from the seminar and there will be an exam! I was very sure I would fail but as a "practice" for when I take my real exam when I'm ready next time, crammed for the remaining 3-4 days, took that Sunday exam and forgot all about it. But lo and behold, after a few months or so, got a letter from the mail saying that I passed the exam, couldn't believe it! From then on, I became a "Real Estate Broker" and availed of the "grandfather clause" to become PRC-licensed. 

From time to time though, there was a need for non-life insurance and renewals from old clients. Continued to renew sucn non-life insurance license and pay PTR every year since I got that license and paid the heftiest penalty for the years PTRs were not paid. Then just offered surety bonds to friends.

At this point, the requests for surety bonds for licensed brokers and appraisers increased, and so were other calls on other non-life insurance requirements. Today I decided to revive this business, maybe put more attention to it, after all I have every right to sell it with my license.

Lost some interest on this biz for a while, but now incorporating it with my real estate business and letting my friends know.  It's good to be busy with business again after being burned out with cramming on a different field -- Environmental Planning. For 2 weeks, managed to squeeze in information needed to pass that exam. Lost momentum in business, and only these past days getting the inspiration to keep going with business again. Yeah, I think I got back my mojo.

Photos credit to owners -- CTTO