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Verified Tsikot Member
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April 3rd, 2007 12:43 AM #11Sir,
We had recently constructed a 6-unit 3-storey townhouse unit near camp crame area, kindly txt 092298211519 09209211519 for more details.
Thanks
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April 3rd, 2007 01:09 AM #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.
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Tsikot Member Rank 4
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April 3rd, 2007 02:25 AM #13REALLY??? 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.
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April 3rd, 2007 07:47 AM #14
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:
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April 3rd, 2007 07:53 AM #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.
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April 3rd, 2007 10:37 AM #16
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.
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April 3rd, 2007 11:11 AM #17
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April 3rd, 2007 11:28 AM #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
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).
Last edited by tsupermario; April 3rd, 2007 at 11:30 AM.
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Tsikot Member Rank 4
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April 3rd, 2007 12:18 PM #19diba 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.
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Nagtatanim ng kamote
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April 3rd, 2007 12:40 PM #20
Buhay na buhay ang BGC this evening. Bukas halos lahat ng restaurants. Sabi pa nung isang cashier...
Traffic!