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notarial fee in processing for a TCT

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1 notarial fee in processing for a TCT on Wed Jul 24, 2013 3:44 pm

Good day!

Please enlighten me about the fee that was charged to me when the seller of the lot I bought was asking me for a notarial fee of 8% of the total value of the lot. Is this really the usual cost for the notarial fee? I have not receive the deed of absolute sale yet. They are on the process of doing it since I just fully paid it last month. I was just shock when they ask me to prepare for the processing fee of the certificate of transfer and that includes the notarial fee of of 8%. I am aware that on my part as a buyer, my obligations are to pay for the doc stamp, transfer fee and registration fee but for a notarial fee of 8%, is it fair on my part that I have to pay for it?

Please advice.

Thank you and more power

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2 Re: notarial fee in processing for a TCT on Wed Jul 24, 2013 5:01 pm

hustisya


Prision Correccional
The usual rate is 1% of the selling price but it really depends on the notary public. I have observed that the 1% is the average, but it is still negotiable.

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3 Re: notarial fee in processing for a TCT on Sat Jul 27, 2013 1:38 am

Ladie


Prision Mayor
Legally as stated on the BIR form on DST returns, the buyer is to pay this tax of 1.5% of the selling price on DOAS, Tax Declaration or BIR Zonal Value, whichever is higher. Also on the BIR form on CGT returns, the seller is to pay this tax of 6% of the selling price on DOAS, Tax Declaration or BIR Zonal value, whichever is higher. Obviously, the notarial fee which normally run from 1% to 1.5% of the selling price on the DOAS is equally shared by both seller and buyer. The buyer of course to transfer, register and title the property in his/her name will shoulder all the related expenses, i.e... transfer tax of a certain percentage of 1% (whichever the treasurer's office ruling is), and registration fee and services fee at ROD runs from 6K or more, if computerized title. HOWEVER, THESE TAXES AND/OR EXPENSES RELATED TO THE SALE MAYBE NEGOTIATED BETWEEN THE SELLER AND THE BUYER DURING THE DEAL OF THE SALE, WHO IS WHO TO PAY WHAT AS TERMS/CONDITIONS OF THE SELLING PRICE. Other related taxes on sale of properties which sometimes encountered during the deal of the sale such as realty tax (property or amilyar) payment, estate tax, etc. should also be made clear or discussed. Why? one of the two parties may be innocent of this and maybe deprived of... (my friend who bought a residential lot was a victim for he didn't know and was not discussed to him by the seller regarding the liens and liabilities of the property). Take care!

_________
I am not a lawyer, only an ordinary person trying to share what I experienced in the sale of the properties we inherited, extrajudicially settled with sale.

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