What to Consider When Buying a Townhouse in Manila
Before you decide to buy a townhouse in Manila, spend some time considering all your options along with the location, is it in a good neighborhood, is it a good place to raise children, is it within walking distance to the amenities that are important to you? Make a list of the factors that are important to you and your family if applicable, including your price range. Once you have a good idea what you’re looking for when it comes to a townhouse in San Juan or vicinity, you should consider the following.
Take a professional approach to buying a townhouse in Manila
If you’re considering buying a townhouse, it’s important to look for the ones that are backed by established developers and work with a professional, experienced real estate broker. This is especially the case when it comes to pre-selling or off plan options.
How much are the monthly dues?
Townhouses and condominiums typically charge their residence monthly HOA dues that are in place to cover services that include building maintenance, security, garbage disposal, miscellaneous common area expenses, etc.
Most townhouses implement “house” rules that residents must adhere to which include things like how many people can live in one townhouse, proper attire, rules on smoking, drinking and eating. Rules can vary per townhouse development so you should find out what they are in order to ensure that they’ll suit your lifestyle.
Make sure that the seller’s Transfer Certificate of Title is legitimate
The best way to confirm that the property title of the townhouse you’re considering purchasing is authentic is by contacting the Register of Deeds (typically found in the city hall for the community the townhouse is in) to get a certified true copy of the title. You’ll need the name of the owner and title number to get a certified true copy and you can save yourself some time if the seller can provide you with this information. In addition, make sure that the townhouse referred to on the title is actually the townhouse you’re interested in buying, matching the description perfectly.
Verify that title is free and clear
You can verify that the title is free and clear by looking at the section called “Encumbrances”. If this section of the title doesn’t have anything in it, the title should be clean (don’t always rely on the “technical” description on the front of the title). Also, make sure that the taxes are paid. Ask for a copy of the Tax Declaration and Tax Receipts to confirm that all applicable real estate tax payments are up to date.
Make sure that the sellers are the real owners
If you are buying from an individual property owner, be sure to ask for identification papers like a driver’s license and passport. It’s also a good idea to chat with the neighbors to affirm the identity of the sellers and it couldn’t hurt to ask them a few questions about the area while you’re at it.
Anything you might want to add to the consideration we have indicated above? Then, we would love to hear from you. Give us your thoughts in the comment box below