Property Brokers/ Agents

  For rental properties, one month worth of rent for a one year contract is standard. This is not recurring; in other words, if the tenant chooses to renew, the owner does not have to pay any more commission. Since a real estate agent's income is tied to the purchase amount, the temptation is always there to keep the price as high as possible. That is why often, brokers and sellers will work together to inflate the price and dupe the client. This is especially true if... Read More

Foreign Property Ownership in The Philppines

Under the Philippine law, only Filipinos can own land. Foreigners are not allowed to own houses and lots in their own name, unless through the law via succession. The easiest way for a non-Filipino to acquire a house & lot is to have a Filipino spouse purchase the property or to set-up a corporation. The later must have 60% Filipino ownership and 40% foreign. However, there are no restrictions on condominium ownership – unless foreign ownership exceeds 40% of the total... Read More