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Buying a house from USA

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1 Buying a house from USA on Sat Apr 29, 2017 11:02 am

Bobjacquet


Arresto Menor
We are attempting to buy a house in Philippines from the USA. We found it the last day of our trip, and my wife's family could act as a representative but we'd like the title to go in my wife's name.

The deal is for a 50% downpayment, with the other 50% to happen in 1 year. Will we need to be present in philippines to transfer deed to her name? Anything else I should know? This is our first time to buy a house in philippines.

Who is generally responsible for lawyer fees? Is it normal to ask seller to split that cost?

What document do I need to give my wife's family the proper authority to finalize all documents upon our review/approval? Can the documents be notarized in the US and then sent to philippines instead of using a representative?

Thanks in advance.

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2 Re: Buying a house from USA on Tue May 09, 2017 1:05 pm

betchay001


Reclusion Perpetua
Hello.

1. Are you buying from a developer or from an individual? The developer usually has set fees, while you may negotiate fees to be spent if the seller is an individual.

2. You will need to execute a Special Power of Attorney if you're not here. It is better to designate an attorney-in-fact when you are buying property here in the Phils. If there are problems and there is no representative, it will be difficult to get things done. Your Attorney-in-fact will appraise you of issues, and he/she may sign on your behalf.

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3 Re: Buying a house from USA on Tue May 16, 2017 7:43 am

Bobjacquet


Arresto Menor
We are buying the property from an individual. Regarding Special power of attorney, How do we execute that? With a consular in the US here? Does that document appoint the attorney-in-fact? Would that be the same as assigning the power of attorney to my brother-in-law in order to sign the documents on our behalf? Also, is the power of attorney strict enough, that it would not allow the brother-in-law to anything besides sign necessary documents for purchase agreement?

I just want to be sure the power of attorney would not allow for him to instead purchase property in his own name using my bank check.

Thanks for your response and advice.

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