The appreciation of property value is a benefit that investors like to see. However, it is vital for you, the loan holder, that the property doesn’t depreciate below the value of your loan. Banks and loan providers err on the side of caution when providing a home loan.
Buying the property will require different modes of holding the title deeds of the property in question. There are three main modes of holding the title deeds that refer to the buying options – the sole ownership and tenancy in common (TIC) or the joint tenancy with right of survivorship (JTWROS).
The recent study by a global property portal, Lamudi, has shown that 92% of the local brokers described their outlook of the Philippines property market over the next 12 months as very positive.
Not all businesses can operate with good cash flow at all times. In fact every business would experience some problems with their cash flow at some point in time. Although it can get quite challenging, cash flow problems are part and parcel of every business. Business owners just need to make sure that they find solutions to bring in cash to continue the operations.
Pay more than the usual. If I keep doing this every Christmas bonus, I will completely payoff the loan by mid-2016, way ahead of 2019 maturity date.
As the saying goes, “build it and they will come”. Here, it’s as early as, “announce the plan for it, and they will come”.
This entails some going back and forth to a number of government offices, so lots of free time or vacation leaves will be needed if you are to do this task yourself.
Title transfer signifies the transfer of ownership of a property usually via sale of that property (which in turn is usually documented via a deed of absolute sale.
Assuming all requirements are in place and all insurance premiums are paid, you can now get your loan. Usually, loan providers give this via Managers Check, credit to account, and rarely cash. Take note that loan amount may not always equal drawn amount.
Note that almost all sellers do not lend 100% of the property price. Usually, buyers need to pay an equity portion (out of pocket) as down payment. Usually around 20-30% of selling price.