Steps and Procedures of Real Estate Sale Documentation and Registration

STEP 1: CITY/MUNICIPAL ASSESSOR’S OFFICE
SECURE THE FOLLOWING:

1. Certified True Copy of Tax Declaration (House and Lot)
2. Certificate of No Improvement (If vacant lot)
Two (2) Original Copies – 1 for BIR and 1 for Register of Deeds


STEP 2 : CITY/MUNICIPAL TREASURER’S OFFICE
SECURE A TAX CLEARANCE

*In order to secure a Tax Clearance, Real Property Tax must be updated as of date of document of sale.

STEP 3: BUREAU OF INTERNAL REVENUE
PAY THE FOLLOWING:

1. Capital Gains Tax (6% for individual seller or 7.5% for corporation)
2. Documentary Stamps Tax (1.5%)

Note: Capital Gains Tax and Documentary Stamps Tax shall be based on Selling Price (per Deed of Sale), Market Value of Tax Declaration, or BIR Zonal Value, whichever is higher.

*Form for Capital Gains Tax can be secured from the BIR or can be downloaded from the BIR website http://www.bir.gov.ph

Requirements:

a. Photocopy of Certified True Copy of Transfer Certificate of Title
b. Certified True Copy of Latest Tax Declaration
c. Real Estate Tax Clearance
d. Original and two (2) Photocopies of Deed of Absolute Sale
e. Certificate of No Improvement from the Assessor's Office if vacant lot.

Additional Note:

a. Payment for Capital Gains Tax and Documentary Stamps Tax shall be in cash or in managers check, to be paid to the BIR Regional office or BIR-authorized banks where property is located.

b. Capital Gains Tax shall be filed and paid to the BIR within thirty days from date of sale.

c. Documentary Stamps Tax shall be paid on or before the 5th day of succeeding month from the
date of sale.

STEP 4: CITY/MUNICIPAL TREASURER’S OFFICE
Pay the Transfer Tax at the Treasurer's Office.
Requirements:

a. Photocopy of Deed of Absolute Sale
b. Photocopy Transfer Certificate of Title
c. Photocopy of Tax Declaration
d. Photocopy of Real Estate Tax Clearance

*Transfer Fee is 1/2 of 1% of Selling Price or Market Value of Tax Declaration, whichever is higher

STEP 5: REGISTER OF DEEDS
Submit to the Register of Deeds where property is located the following documents:

a. Owner's Duplicate Copy of Transfer Certificate of Title
b. Deed of Absolute Sale (3 copies)
c. Certificate Authorizing Registration from the BIR
d. Transfer Fee Receipt
e. Photocopy of Real Estate Tax Clearance
f. Photocopy of Tax Declaration or if vacant lot, Certificate of No Improvement

A NEW TITLE UNDER THE NEW OWNER’S NAME WILL BE RELEASED BY THE RD

REMINDER: The owner or the broker as authorized by the owner should be the one to present the above documents to the Register of Deeds because the new TCT shall be released only to the presenter of the above documents

STEP 6: CITY/MUNICIPAL ASSESSOR’S OFFICE
Secure from the Assessor's Office a new Tax Declaration.

Requirements:

a. Photocopy of Transfer Certificate of Title under the new owner’s name, duly authenticated at the Assessor's Office
b. Photocopy of Deed of Absolute Sale
c. Real Estate Tax Clearance

IMPORTANT:

Always bring Certified True Copies of the documents as well as necessary receipts to avoid inconvenience in case you will be required to present them.

BALL PARK VALUE OF A REAL ESTATE PROPERTY

For clients who would ask for the market value of a certain real estate property, we provide them the "ball-park-value" which does not include other specific values of the property. We are professional appraisers, thus it is unfair and unethical for us to give out market valuation at no charge when we charge others for this information. We offer these ballpark valuations in order to give the client some idea of the general value of the real estate, but for us to give an actual market value, we must charge either for a Professional Opinion of Value or an Appraised Value. This is further explained on my succeeding posts.

Cagayan Valley property owners and Investors: Are you selling your real estate property? OR, are you looking for a property to buy?

We are licensed brokers/Realtors based in Cagayan Valley (Region 2). We will help you sell your properties through various real estate professional groups here and abroad. We can help you gain more exposure in selling your properties to our Kababayans and OCWs abroad.

We also have several listings of realties offered for sale in various municipalities and provinces of Cagayan Valley. Should you need a specific lot requirement, we would be more than glad to look one for you.

"Beware of colorum Real Estate Brokers and Agents. Deal only with professionals. Deal with Realtors".

Licensed Realty Appraiser and Realtor in Cagayan Valley

We are licensed brokers/Realtors based in Cagayan Valley. We will help you sell your properties through various real estate professional groups here and abroad. We can help you gain more exposure in selling your properties to our Kababayans and OCWs abroad.

ARE YOU LOOKING FOR A PROPERTY TO BUY?

We have several listings of realties offered for sale or for lease in various municipalities and provinces of Cagayan Valley. Should you need a specific lot requirement, we would be more than glad to look one for you.

“BEWARE OF COLORUM Real Estate AGENTS and BROKERS. Deal only with PROFESSIONALS".

For further information, please CONTACT:

ENGR. REYNALDO A. DE LEON
No. 7 Torres Street, Plaridel,Santiago City (Isabela) 3311

Tel. No. (078)-682-5419;
CellPhone No. 0917-574-2390
Email – radarsinc@yahoo.com

REB License No. ISA-REB-08-011;
REA License No. REA-ISA-07-001