Juan doesn’t pay much attention to the cost of borrowing. He cares more on the monthly amortization (short-term thinking) rather than the total costs involved (longer-term thinking) And that costs Juan much. Ouch.
Wrote the posts based on my personal experience when I solely handled the title transfer of the house and lot we bought way back then. I have observed that many still inquire about the steps, requirements among other things, maybe because Pinoys prefer to do this processing on their own, instead of outsourcing it to brokers, agents etc whose actual day job is to transfer titles.
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.