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Certificate of No Improvement (Pag-ibig Loan)

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1 Certificate of No Improvement (Pag-ibig Loan) on Mon May 16, 2011 7:13 pm

interpol


Arresto Menor
May bibilhin po akong lote at nagapply na ako ng loan sa Pag-Ibig. Requirement daw ng Pag-ibig ang certificate of no improvement. Kaya lang hindi po naisyuhan ng cert. of no improvement dahil may bahay pang nakatayo dun sa lote. luma ba po yung bahay, at ayon sa Assesor hindi sya taxable, kaya lang may value pa ito na 94K dahil buo pa at pwede pang tirahan.

Ang nakadeclare lang po sa titulo ay lupa at iyon lang po ang ibinebenta sa amin ng may-ari. Ayon po dun sa broker na nag-aasikaso ng mga papeles namin (para sa transfer of title, Pag-ibig loan, etc) may dalawa (2) daw po kaming option:
a) ipa-demolish sa city engineering office yung bahay para ma-isyuhan ng Cert of No improvement
b) ipa rehab ang bahay tapos magsusubmit sila ng cert of completion pag natapos yung bahay at pwede na daw kaming tumira..

Ito po ang tanong ko (option b ang pinili ko):
1) legal po ba na mag paconstruct/rehab kami ng bahay dun sa lote kahit in process pa yung loan namin. Note: nakapagdown na po kami dun sa may-ari. At may pipirmahan daw po kami na Oath of Undertaking na isusubmit din sa Pag-ibig (in lieu of the cert of no improvement)
2) hindi ko po alam kung naaayon sa ruling ng Pag-ibig yung gagawing pagpapaconstruct (hindi pa po ako nakakapag-inquire sa Pag-ibig dahil nung seminar ang alam ko, house and lot ang bibilhin ko kaya hindi ko naitanong ang tungkol dito).

Salamat

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attyLLL


moderator
wouldn't it be simpler to change your loan to that for lot with improvement rather than just a lot?


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