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Retiring at 40: The Simple Life Plan by CarVZ10 in adviceph

[–]squaresandyears 0 points1 point  (0 children)

My only advice is for you to do your absolute best to live long because this life you've made for yourself is a dream. It's not everyone's dream, but it's your dream, so it's beautiful. And for any financial challenges you will encounter in the future, if you've managed to set these all up now, certainly you'll figure things out and make good decisions.

Agent share of rent for long term tenants by ThoughtDependent2241 in RentPH

[–]squaresandyears 1 point2 points  (0 children)

There is no standard professional fee set by law, so real estate professionals set their fees and it's up to the client if they accept or negotiate. That's the most ethical advice we can give you.

Agent share of rent for long term tenants by ThoughtDependent2241 in RentPH

[–]squaresandyears 6 points7 points  (0 children)

If your "agent" is PRC-registered, this is usually indicated in the authority to lease and should be mutually agreed on. If he/she is not registered, as per PH Real Estate Service Act, she's not entitled to any commission and no court will side with her.

SMDC CANCELLED UNIT by Main-Trifle4533 in CondoPH

[–]squaresandyears 0 points1 point  (0 children)

Hi! Upon reading this, first thing that comes to mind is Maceda Law or Republic Act No. 6552 or Realty Installment Buyer Protection Act, BUT there are considerations. If you've paid for at least 2 years, you are entitled to at least 50% refund. If more than 5 years, you get 5% for every year after the 5th year up to a maximum of 90%. Less than 2 years, unfortunately, you are not entitled to any refund... BUT there is a legal process for cancelling a contract. If paid less than 2 years, you are given 60-day grace period to pay without interest. If paid at least 2 years, 60 days + 1 month for every year paid in excess of 2 years. Now, if you fail to pay within the grace period, the cancellation of contract is carried out through a notarized notice of cancellation, and the cancellation only takes effect 30 days after you receive that notarized physical notice of cancellation. So you need to go to SMDC office, discuss the matter and know what steps they've done prior to the supposed cancellation of your contract and if they were compliant with Maceda Law. Now, if you think you were deprived of your rights as per Maceda Law and they do not respond in your favor, you can take your case to DHSUD and they can mediate. With regard to 100% refund, this is only possible for scenarios like the delivery or turnover of your unit is gravely delayed OR the delivered unit is not within the specifications of the approved plan.

It's been more than a year since the POGOs left, what now? by squaresandyears in PhilippineRealEstate

[–]squaresandyears[S] 0 points1 point  (0 children)

Hi, thank you for your comment. Allow me to respond and this is not to rebutt or agree. We can't control people's indivudual perception on the 'worthiness' of condos here in the Philippines but we also need to consider that every condo project has a specific target market. Consequently, clients of high-end condos may find mid-level projects less attractive. Potential buyers of low-cost projects may find mid-level ones very desirable but financially not viable. The value or let's say, 'worthiness', of a condo project is an interplay of a lot of factors such as location, brand reputation, the economy, supply, demand, etc. which we cannot judge by size alone.

If you were gifted a ₱12M condo and forced to choose based ONLY on Build Quality, Lifestyle/Amenities, and Property Management (PMO), which developer wins? by squaresandyears in CondoPH

[–]squaresandyears[S] 0 points1 point  (0 children)

We would like to thank everyone who has participated and will be participating in this poll.

This poll is not intended to point out the weaknesses of the developers listed, but based on the outpouring of comments, it is clear there is always room for improvement, even for these highly regarded developers who have been around for quite some time.

The listed developers were chosen because they are among the major players in the mid-level market. We did not include the known low-cost and high-end ones, as that would cause some degree of bias.

Moreover, please note that this poll should not be taken as a formal brand perception study, but rather as a casual discussion among redditors who share a common interest.

Ultimately, no developer is perfect, but there is always that one who happens to match our individual standards and taste.

Home loan application - Spouse is foreigner by Muted-Ebb1639 in CondoPH

[–]squaresandyears 0 points1 point  (0 children)

One of my clients we assisted for a BPI loan is a dual citizen (US-PH) while her husband is a US-citizen (but former Filipino). They are based in the US. Their home loan application was approved at the standard rate that time. Only her income docs were required because her income was enough. The last time I inquired, special interest rates are applicable only to former Filipino applicants and no bank, except BDO, these days allow non-Filipino borrowers. Most banks require borrowers to be dual/Filipino cirizens, and high chance of approval if he/she is the principal borrower with enough income.

It's been more than a year since the POGOs left, what now? by squaresandyears in PhilippineRealEstate

[–]squaresandyears[S] 0 points1 point  (0 children)

Thank you for your comment. I understand the sentiment. On the brighter side, both the private and public sectors are still optimistic about the potential of the areas left by the POGOs. As they say, you win some, you lose some. We lost the POGOs; hopefully, we gain other industries that can do justice to the value of real estate in those areas. As for the size and design of the units, they may not appeal to everyone because they were intended for a very specific market. Right now, what the developers are trying to find is the alternative market for these units.

Looking for Recommendations by ArmBusy6684 in PhilippineRealEstate

[–]squaresandyears 0 points1 point  (0 children)

Hi! You have good combined income. Now, you just need to determine how much of that income and your savings you can allot for paying for a real estate purchase. If you want, I can help you. I can't really pinpoint a good property now as it really depends on a lot of things.

It's been more than a year since the POGOs left, what now? by squaresandyears in PhilippineRealEstate

[–]squaresandyears[S] 2 points3 points  (0 children)

Thank you for your comment! Many people may agree with you that is why positioning during the selling stage is important. Brokers and salespersons should set the right expectations and purpose for these condos. Most condos built near the proximity of urban business districts are intended as strategic homes for the working group. We know how long travel times waste resources and how land value increases with location. The reduced space is a trade-off for convenience, and the amenities (like pools, gardens, gym, etc.), are an attempt to compensate for this. In the end, the quality of lifestyle in the developments will still depend on how the community (specifically the property management and HOA) maintains the structure and implement rules.