How to sell a house and lot
There are times when you think you are incompetent to do things that are not in your field or expertise. In this adventure you come to prove something to yourself. The sale of a property is crucial, but if done with the proper documentation, legitimacy, good faith and the consent of both parties, buyer and seller, the transaction will be completed in due time.
In my own company, it took me about ten months or so to sell a house and a lot of ownership transferring from parents to heirs with a clean title. You can seek the help of a real estate broker, attorney, or firm, among others, to help you with document processing. Each office takes two, three, or a month to seal approval or release.
In the documentation process, you need a set of photocopies of applications, receipts, affidavits, claim stubs, and other certificates. Label them in secure folders and put them in a bag so that every time an office requires a copy, they have one available. In the event a file is lost, certified true copies can be requested from the appropriate government offices.
Here are three steps from attorney Glicerio Alarkon Jr. (San Beda College of Law), from whom I sought help with my papers.
“1 Settle the inheritance tax where the deceased’s property is located at the Internal Revenue Office.
2 Secure a new title under the heirs at the Registry of Deeds or Land Registry Authority.
Before obtaining a new title under the heirs in the Registry of Deeds, you must pay the transfer tax at the City Hall.
3 After all these steps, the property is ready for sale! “
So, after the advice of the lawyer, this is how the documents for the sale of a property were processed. To save on broker fees, I worked for myself selling a house and a lot.
Initially, before step one, property taxes must be paid every year, but if taxes have increased and interest charges are onerous, homeowners can claim and wait for a tax amnesty or pay in installments. Keep your real estate tax receipts.
In step one, once the inheritance tax has been paid, the Internal Revenue Office will issue a certificate authorizing the registration. From here, you can go to step two.
Other documents you may need are a publisher’s affidavit, an out-of-court estate settlement, tax account numbers, government identification cards, valid identification cards, and a special power of attorney from the Consulate General of the country where the other heirs reside if they are. heirs live. Foreign. For example, our court is from the Consulate General of the Philippines in San Francisco, California, USA. In addition, the death certificates of the parents and sometimes the birth certificates of the heirs must be prepared from the National Statistical Office. Save some money for notarial expenses and transportation, among others.
The last step is the deed of sale. With this, the seller must pay capital gains tax. Payment for the property can be made in cash or by check. However, bank verification is required, if payment is by check. You will need an attorney to assist you during this transaction. In addition, you will need the assistance of the bank for your safety. If money is important, seek the help of a police officer. Truly, the help of good workers!
Remember that a good sale happens in an honest deal! My mission accomplished! Thanks god!