Buying a condo in makati, may tax 60T!!!

**El Loco** · November 21st, 2002 01:17 PM

Buying a condo in makati, may tax 60T!!!

I am on the verge of buying a condo here in makati..
They gave me the finalised papers and I was shocked to
see taxes amounting to 60T!!!
CAPITAL GAIN TAX daw..

This condo was forclosed by a bank..is that the reason why
there is notary fees, doc stamps and that taxes???

Di ba pwedi i-waive yun? Sabi ng bank sa BIR daw..
Please enlighten me..thanks

**netoy** · November 21st, 2002 02:05 PM

usually capital gain tax are shoulder by the seller not the buyer, it a common practice for the buyer to arrange in papers the selling price so as the capital gain will be lower...negotiate with the seller a selling price that will offset your expenses if not all at least lessen it.

**El Loco** · November 21st, 2002 02:13 PM

the Seller is a bank...
is it possible to negotiate with them?

**TJMaxx** · November 23rd, 2002 02:50 AM

Hahaha. Mukhang iniisahan ka nung bangko...
Wag kang magpahalata...kunwari marami kang alam.
As a banker myself, i know ang mga style ng mga yan.
Huthot ng huthot hanggang di ka umaangal...
Oras na umangal ka, back to the negotiating table yan.
Of course sila dapat ang sumagot ng Capital Gains Tax.
Sila ang nag-"gain", di ba? Malaki kinita nila sa forclosed
condo na yan sa pagbenta sa iyo.
OO nga at para sa BIR yun, pero sila dapat kakarga noon
at hindi ikaw, pre...
Fotangna, anong bangko ba yan? Mukhang unethical mga
tao diyan, ha?
Dios ko, hundreds of billions of pesos ang foreclosed properties ngayon
ng mga bangko. Desperado yang mga yan na i-move out foreclosed
assets nila. Tamisan mo ng konti ang terms mo para kumagat sila.
Its all in the deal...

**El Loco** · November 25th, 2002 01:29 PM

Originally Posted by TJMaxx

Hahaha. Mukhang iniisahan ka nung bangko...
Wag kang magpahalata...kunwari marami kang alam.
As a banker myself, i know ang mga style ng mga yan.
Huthot ng huthot hanggang di ka umaangal...
Oras na umangal ka, back to the negotiating table yan.
Of course sila dapat ang sumagot ng Capital Gains Tax.
Sila ang nag-"gain", di ba? Malaki kinita nila sa forclosed
condo na yan sa pagbenta sa iyo.
OO nga at para sa BIR yun, pero sila dapat kakarga noon
at hindi ikaw, pre...
Fotangna, anong bangko ba yan? Mukhang unethical mga
tao diyan, ha?
Dios ko, hundreds of billions of pesos ang foreclosed properties ngayon
ng mga bangko. Desperado yang mga yan na i-move out foreclosed
assets nila. Tamisan mo ng konti ang terms mo para kumagat sila.
Its all in the deal...

Bank is china bank
Ijust had a talk with the manager this AM.
Ganun parin...Buyer daw talaga sasagot..ganun din daw yung deal nila to those who pruchased one before..
Meron pa daw VAT..baka the buyer will share onthe 10% vat..
Pano kaya next step ko?...
hay kadami tx..
definitely..I won't buy if those taxes will not be shouldered by the Bank...
thanks

**1D4LV** · November 25th, 2002 01:45 PM

pare, parang mali nga ah. lalo na yang vat...vat only applies on services and goods not on real property.

**crawdaddy** · November 25th, 2002 01:58 PM

TJMaxx,

thanks for the info, man! :D

**El Loco** · November 26th, 2002 01:19 PM

Originally Posted by crawdaddy

TJMaxx,

thanks for the info, man! :D

thank you very much on your inputs..still china bank wouldn't waived the CGT...at baka meron pa daw VAT ...//%$^^^& tlaga oo..
Sabi ko wag na lang..now ifyou can waived it call me..that's our final talk..

So dito ako sa 2nd option ko..
30 sqm 1 bedroom condo sa may central park sa evangelista..
price is 55OT..direct seller to..
terms is 50% down then 50% payable in 1 year no interest..
ok na ba deal to? I have seen yung iba their selling it for 720T...
would like to make sure kung good buy na to?

we will be finalising tomorow..how do Iknow na talagang wla ng ibang babayaran pa..though the lady owner showed me her certificate of completion of payment..is that a safe proof already?

If am going to buy it..ano yung mga dapat kong bayaran?
Capital Gain tax - sa kanya daw..
transfer - sino kaya? buyer or seller
deed of sale, processing fees???
ano other thing that would need to be paid?

thanks people..
sana i would get your feedback kagad..
thanks TJ maxx...

**1D4LV** · November 26th, 2002 02:05 PM

parekoy...

got a house too four years ago..wala akong binayarang other charges except for some real estate taxes that were unpaid yet. i think yung mga items stated mo above should still be shouldered by the seller.

**NightRock** · May 11th, 2004 10:21 AM

Just to refresh this TOPIC

Ano ano bang Documents dapat na makita ko when Buying a Condo.. If Im buying it on terms what kind of documents I should have.. "contract to sell" ba?

How about the payment how can I prove that Im paying it regularly.. let say If Im paying it thru the banks. is the deposit slip enough. let say sa tao binili then wala syang resibo monthly.

And if I owned the unit what are the dues I have to pay monthly..

Property tax yearly diba.. what is the basis of computation?? as per the floor area ba yon?