Does investing on a condominium still a good idea?

[12vdc]

For you additional protection in DP of non-cash buyers, execute a contract to sell.

[papi smith]

For you additional protection in DP of non-cash buyers, execute a contract to sell.

No offense meant, but a CTS may provide protection against non-payment but you still have to collect via legal means, means more money and stress. I would choose someone who would execute a loan with a bank or elsewhere and pay me in cash.

[12vdc]

^ Just suggesting an option since non-cash buyer was mentioned.

Same as PDC, BP22 is still a court process.

Its just an insurance for the owner of the property, that any lost opportunities from aborted done-deal transactions will be shouldered by the kamote buyer.

[xwangbu]

tnx...it is my understanding that MCs are as good as cash. lahat ng lot purchases namin is via MC.
baka wala na kami kuning DP. full payment na once magpirmahan.

and me bagong twist: gusto ng buyer na ipangalan sa anak nya yung unit.
so ang siste e need na yung anak nakapangalan sa DOS.

[dr. d]

just be completely in agreement, as who is to pay the taxes.
normally, he-who-is-handed-the-payment, is the default tax-payer.

[papi smith]

tnx...it is my understanding that MCs are as good as cash. lahat ng lot purchases namin is via MC.
baka wala na kami kuning DP. full payment na once magpirmahan.

and me bagong twist: gusto ng buyer na ipangalan sa anak nya yung unit.
so ang siste e need na yung anak nakapangalan sa DOS.

Yes, MCs are good as cash but still subject to clearing when deposited in a different bank.

As long as the buyer pays me, I don't really care who the DOS is named to.

[EQAddict]

Pricing for rockwell proscenium keeps going up. Thats roughly 350k per sqm. If you had invested pre selling... You would have made a paper gain of 100%.



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[kagalingan]

ayun sa akin bubwit, si winterpine bumili ng 20 or 30 parking sa isang condominium last year. Ganyan ang gusto ko yung isang or dalawa lang unit mo tapos pwede bumili ng unli-parking.

Sa parking eh monthly dues lang babayaran mo wala maintenance. Thats easy 5,000 to 7,000 kita every month. Lalo na ngayon mahigpit mmda sa street parking.

[heavenlee]

ayun sa akin bubwit, si winterpine bumili ng 20 or 30 parking sa isang condominium. Ganyan ang gusto ko yung isang or dalawa lang unit mo tapos pwede bumili ng unli-parking.

Sa parking eh monthly dues lang babayaran mo wala ng maintenance. Thats easy 5,000 to 7,000 kita every month.

Which condo project was that, sir? Most developers will not allow so many parking units unless you buy a condo unit in the same quantity or at least 1:2 ratio. 1 condo unit, 2 parking units max. Unless he did some "magic".

[benchph1]

Maximum 2 parking slots lang ang allowed mong bilhin per unit regardless of the size. Unless you bought 20 units. This is common place on the deed of restrictions for every residential development. Kahit na mixed-use pa.


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[ice15]

^agree... I honestly think urban legend lang yang multiple parking purchase...

In our case, may kakilala pa ako sa loob and we can't get multiple slots.

I know someone who was able to buy 1 car slot and 2 motorcycle slots... pero 2 or more car parking slots for a normal 2 bedroom unit, wala pa akong nakikilala

Our agent told us 98% lang slots nila ng parking for unit owners. so kung lahat may car, 2% of the residents will not be able to purchase a parking slot.

[Deestone]

I bought a condo unit which I'm paying monthly amortization and is about to end this 3rd qtr 2019 for the balance thru bank financing. Since the condo is smdc which is affiliated with BDO can they give me the lowest rate? and what is the current interest rate right now per annum? Do I need to pay processing fee or other fees prior to bank approval for my loan? so that I can be prepared for bank financing. Also, if you can provide tips on how to haggle is much appreciated.

[chronicle]

I bought a condo unit which I'm paying monthly amortization and is about to end this 3rd qtr 2019 for the balance thru bank financing. Since the condo is smdc which is affiliated with BDO can they give me the lowest rate? and what is the current interest rate right now per annum? Do I need to pay processing fee or other fees prior to bank approval for my loan? so that I can be prepared for bank financing. Also, if you can provide tips on how to haggle is much appreciated.

If bank affiliated ang property, usually, the loanable amount is higher compared to other non bank affiliated. Bpi usually gives only approx 60 percent of the loanable contract while others can go as high as 80 percent.
Rates will probably be the same accross banks and
Im not sure the rates now but prolly it is still on the 5 - 6 percent range.

Apply loan to different banks to see who gives you the best rates, then compare.

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[badkuk]

i read a tweet recently that condo/residential sales are down even with the Chinaman buying. Perhaps the prices have been pushed so high that it's starting to affect demand.

[Deestone]

If bank affiliated ang property, usually, the loanable amount is higher compared to other non bank affiliated. Bpi usually gives only approx 60 percent of the loanable contract while others can go as high as 80 percent.
Rates will probably be the same accross banks and
Im not sure the rates now but prolly it is still on the 5 - 6 percent range.

Apply loan to different banks to see who gives you the best rates, then compare.

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Okay so much better if I stick with BDO that is also my primary bank anyway. For the rate we haggle or talk to the branch head or will they assign a loan officer? I know they also earn commission for every approved loan.

[gongrhey]

Dun naman sa condo namin karamihan ng umuupa ay mga Chinese malapit kasi sa mga casino area yung location. Tinatanong na nga kami kung ipapa-rent namin yung unit namin na for turnover na. Kwento nung kausap namin marami daw nag iinquire ng mga units for rent. Mga supervisor at workers daw sa casino at yearly ang rent. Hatid sundo daw ng shuttle bus.
Isa din talaga sila sa reason kung bakit nagtataasan ang price ng condo. Yung samin yung prevailing price ngayon is more than triple nung nabili namin.

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[papi smith]

Kapag triple na Ang price, sell na yan rather than rent for me, Ang tagal Ng payback Ng rent, unless lumobo rin ng todo Ang rental rates

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[uls]

don't fall for those managed forex investments

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[uls]

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pag condo nakikita niyo ano nabili ng pera niyo