New and Used Car Talk Reviews Hot Cars Comparison Automotive Community

The Largest Car Forum in the Philippines

Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 34
  1. Join Date
    Jul 2006
    Posts
    72
    #11
    Sir,
    We had recently constructed a 6-unit 3-storey townhouse unit near camp crame area, kindly txt 092298211519 09209211519 for more details.

    Thanks

  2. Join Date
    Oct 2002
    Posts
    352
    #12
    also remember that the buyer usually shoulders the capital gains tax which is quite huge. have it computed first so at least you will be ready.

  3. Join Date
    Jun 2006
    Posts
    1,046
    #13
    Quote Originally Posted by boyscout View Post
    also remember that the buyer usually shoulders the capital gains tax which is quite huge. have it computed first so at least you will be ready.
    REALLY??? WOW! iba pala dian. si pedro binayaran ang utang ni juan. ang daya naman. in my opinion, the seller should pay the capital gains tax (as it is in the USA), since the seller is the one who made the profit (let's not get into the capital gains exemption. that's another topic).

    there are also exceptions in which you can get the full amount of your deposit. one of which is if your loan application fails to secure approval (assuming you put a loan contingency in your bid); or any of the contingencies you put in your contract/bid that the seller fails to satisfy.
    Last edited by n2knee; April 3rd, 2007 at 02:34 AM.

  4. Join Date
    Dec 2005
    Posts
    39,162
    #14
    Quote Originally Posted by n2knee View Post
    REALLY??? WOW! iba pala dian. si pedro binayaran ang utang ni juan. ang daya naman. in my opinion, the seller should pay the capital gains tax (as it is in the USA), since the seller is the one who made the profit (let's not get into the capital gains exemption. that's another topic).

    there are also exceptions in which you can get the full amount of your deposit. one of which is if your loan application fails to secure approval (assuming you put a loan contingency in your bid); or any of the contingencies you put in your contract/bid that the seller fails to satisfy.
    Dito po sa Pilipinas, kalakalan, na ang seller ang nagbabayad ng 6% capital gains tax; at ang buyer ang nagbabayad ng 1% transfer tax. Based ito pareho sa selling price ng property.

    Kung may ahente, ang seller din ang nagbabayad. Typical rate is 5% of the selling price.

    Kung mayroon mang mababago sa arrangement na ito, nasa pag-uusap na nila ito. Pero, ito ang practice dito sa atin.

    Kunin muna ang photocopy ng titulo at imbestigahan kung ito nga ay 'clean title' at mag-usap ng maayos tungkol sa pagbabayad ng mga taxes bago magbigay ng earnest money.

    2301:dog1:

  5. Join Date
    Oct 2002
    Posts
    21,244
    #15
    Depende sa agreement ng buyer and seller kung sino ang magbabayad ng mga taxes, fees, and commissions. Usually kapag nagkakatawaran, ginagawa ng seller sya nalang ang magshoulder ng lahat ng expenses.

  6. Join Date
    Oct 2002
    Posts
    1,496
    #16
    Quote Originally Posted by tsupermario View Post
    sir under the act, if the contract (of sale) is canceled the property is reverted back to the seller.
    oh okay, thanks for the info sir so, in short, it can only be reverted if and only if, the contract of sale is canceled via defaults on payments etc?

    sorry for hijacking your thread swordsman, ill go resurrect the old one.

    if what i fear is true (property reverting back to developer), then baka mas ok na townhouse nga. again, goodluck with the househunting.

  7. Join Date
    Jul 2005
    Posts
    1,113
    #17
    no problem Chip...

    about sa capital gains & transfer taxes, yes we already factored it out sa final selling price. the seller gave discount to compensate for those taxes.

    Quote Originally Posted by MAYLES View Post
    Sir,
    We had recently constructed a 6-unit 3-storey townhouse unit near camp crame area, kindly txt 092298211519 09209211519 for more details.
    Thanks
    do you do renovations, sir?

  8. Join Date
    Jan 2005
    Posts
    3,773
    #18
    i think we're not on the same page since the topic is about buying a realty and after reading the post below i quickly assumed it was about defaults in payment of installments. my bad
    Quote Originally Posted by Chip View Post
    a little off topic: totoo bang condominium units usually revert back to the developer after XX number of years? I read here before na thats how ayala operates. If so, how about townhouses?
    i read the other thread and i'm not also aware of that practice. the question that immediately pops to my head is: if the buyer paid for the unit in full, why does he have to return it after xx years? The more apt statute imo is RA 4726. the 50 year period is mentioned under section 8 (c).
    Quote Originally Posted by Chip View Post
    oh okay, thanks for the info sir so, in short, it can only be reverted if and only if, the contract of sale is canceled via defaults on payments etc?
    Last edited by tsupermario; April 3rd, 2007 at 11:30 AM.

  9. Join Date
    Jun 2006
    Posts
    1,046
    #19
    Quote Originally Posted by CVT View Post
    Dito po sa Pilipinas, kalakalan, na ang seller ang nagbabayad ng 6% capital gains tax; at ang buyer ang nagbabayad ng 1% transfer tax. Based ito pareho sa selling price ng property.

    2301:dog1:
    diba ang basehan sana ng capital gains tax ay yung profit (capital gain from the seller's perspective is the difference between the old purchase price plus improvement and the new selling price)? i can understand the transfer tax being based from the selling price, but the capital gains tax should be based from the money gained on the transfer of the asset between the seller and the buyer.
    Last edited by n2knee; April 3rd, 2007 at 12:22 PM.

  10. Join Date
    Jun 2005
    Posts
    787
    #20
    Quote Originally Posted by n2knee View Post
    diba ang basehan sana ng capital gains tax ay yung profit (capital gain from the seller's perspective is the difference between the old purchase price plus improvement and the new selling price)? i can understand the transfer tax being based from the selling price, but the capital gains tax should be based from the money gained on the transfer of the asset between the seller and the buyer.
    Unfortunately, in the context of real estate transactions, the term "capital gains tax" is a misnomer. The tax is not based on gains (ie profit) but on selling price.

    It should actually be called a "sales tax".

Page 2 of 4 FirstFirst 1234 LastLast
Questions: Buying a townhouse..