CEBU REAL ESTATE INVESTMENT: house and lot, condominium investment guide

You may find some errors in my English grammar and usage of words.  Please bear with me because I'm not an English language wizard.  This blog is based on my personal experiences as a Licensed Broker with the main purpose to assist you to decide which property to buy/invest in Cebu City/ Province and how to acquire in the most prudent way.

If you are presently residing in Cebu, then you are in the best position to buy.  Just contact a Licensed Real Estate Broker so you may be assisted in:

1. Initial information will include the location, development map, price list, and availability.  From there you may more or less know your desired lot location and which unit suits your needs, desired price range, and sample computation.
2. TRIPPING/ SITE VISIT here you and the broker will schedule a site visit at your convenient time so you can assess the project/property base on actual knowledge as to its accessibility,  neighborhood, safety, amenities, etc...
3.  Reserve the Unit.  After visiting the location,  you and the broker will go to the developer's office to make a reservation on your chosen house/condominium unit.

SHOULD YOU WISH TO LOOK MORE OPTIONS, YOU MAY JUST SAY SO AND THE BROKER WILL BE VERY HAPPY TO ASSIST YOU.  You are most advise to feel free to ask questions, say whatever is in your mind regarding the property and the broker will address it to the best of his/her knowledge and if ever there are questions that are beyond it, then you will both know the answer from the developer itself.

If you are a Filipino residing abroad,  with a representative in Cebu, we will have a thorough discussion of the project online, and then the broker will contact your representative for site viewing so your representative will narrate everything about the project according to what he/she sees firsthand.  I understand some absentee buyers have apprehensions on the information given by the seller/broker.   

Filipinos abroad without a representative in Cebu, trust is the word.  Do a thorough research and about the seller and developer's credibility.  You will be assisted from start to finish thru online transactions.

Foreigners/ foreign nationals who wish to invest/ buy property in Cebu
From experience, I'm repeatedly asked if a lawyer is necessary when buying a property here.  My answer, you may but NOT NECESSARY  as long as you are dealing with a licensed broker.  Broker and developer will be working hand in hand for legitimate transactions. ( I am talking about project selling which by the way is my forte.  I advise brokerage or properties that are for sale by owner should consult a lawyer).  From presentation to closing the deal will be done online.  Just take all the precautionary measures in checking the legitimacy of the seller and developer.

PLEASE NOTE:

1. DO NOT send money to the seller.  Send it directly to the developer's account provided by the seller.
2. A foreigner can own house and lot only if: Married to a Filipino or has a corporation here.  Otherwise, you may own it thru a leasehold agreement.  
3. Very few houses and lots have a condominium certificate of title so foreigners may own it subject to the rules and regulations on condominium ownership.  
4. Necessary documents may be done online. 
5. Check development and seller legitimacy