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

**1D4LV** · May 11th, 2004 03:48 PM

nightrock, afaik...

a) monthly association dues ng condo

yes, property (or real estate tax) is paid on an annual basis although you can have it paid on a quarterly basis too. yes, the basis of computation is per floor area.

**yebo** · May 11th, 2004 04:39 PM

nightrock,

open a checking account and make arrangements with the bank that all validated/paid checks be returned to you. the returned validated checks will be your proof that you paid because of course you will be writing on the check the name of the payee and for what the check is issued>>>paid to the order of xxxxx for xxxxx. the payee also signs on the back of the check as proof of his being paid before he can encash it. you also have the convenience of issuing all 12 checks (for say 1 year payments) at one time, post-dated na lang lahat except for the 1st month.

ingat ka lang at malaki ang multa sa bouncing checks. P1000 from the issuing bank, P1000 from the depository bank plus 1%/day the check is not redeemed. so that means you need to fund the check before they get due.

el Loco,

capital gains taxes are always shouldered by the seller. they should compute that in their final price. in effect the buyer still shoulders the capital gains taxes because it must already be included in the total price.

on transfer fees, either the buyer or the seller can shoulder this, depending on negotiations. if the buyer is familiar with the process (and thus knows somebody who can facilitate this for a lesser price) then the buyer usually does it himself. if not then the seller will do it but this will involve higher fees as the seller will definitely be hiring a lawyer. and in the end the buyer pays for it since the seller will just add the processing fees to the final price.

why don't you report China Bank to the BIR. i think their practice of making the buyer pay for the capital gains taxes is illegal.

**hybrid** · May 11th, 2004 05:03 PM

meron talagang tax na babayaran, and mahal talaga, but I don't know the exact breakdown my percentages.

usually nasa pag-uusap ng buyer and seller yan kung sino ang magbabayad ng tax.

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ngayon ko lang nabasa yung buong thread hehe

it's good to know you found another unit to buy na

**5Speed** · May 11th, 2004 05:25 PM

hehehe magulang talaga yang China Bank, ibang klase yang mga yan. Hirap daw makipag-deal sa kanila...

feedback lang naman nang ilang mga negosyanteng kaibigan...