Six essential steps to follow before buying land

Buying land can be a daunting experience, especially for first-time buyers. To ensure a smooth and hassle-free transaction, follow these critical steps:

Step 1: Verify the Title

Obtain a copy of the land title from the seller and investigate its authenticity at the Register of Deeds. Check for encumbrances like mortgages, claims, or other issues.

Step 2: Conduct a Relocation Survey

Hire a Geodetic Engineer to define land boundaries and ensure no encroachments from adjacent lots.

Step 3: Execute a Deed of Sale

Sign and notarize a Deed of Sale or Contract of Sale with the seller.

Step 4: Pay Documentary Stamps

Make this crucial payment within a month of notarisation to avoid complications.

Step 5: Pay Capital Gains Tax

The seller must pay this tax to the Bureau of Internal Revenue (BIR) and obtain a Certificate of Authority to Register.

Step 6: Transfer Title

Take the certificate to the Register of Deeds, pay Transfer Fees, and await the title transfer process.

By following these steps, buyers can safeguard their investment and ensure a seamless land purchase experience, avoiding common pitfalls and costly disputes.

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