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A Piece of Land I Don't Need, But..

My friend is offering me a piece of land, an inheritance from his father-in-law. It's 6000sqm, at a price cheaper than that of a townhouse at Quezon City. It's his wife i'll be dealing with, if ever this pushes thru.

I'm thinking this could be the land i'll be leaving my son. My problem is how to be sure that in a decade or so, this land will remain mine. No squatters, no land grabbers.

The annual land tax, no problem. I'm sure it's not that big since the land isn't commercialized. The neighboring land aren't fenced off yet either, and a lot bigger owned by the mayor. There, i don't have the strength to fight off the mayor in case he might want to claim this too in a decade or so. Not that he used his power to get his way on things around our locality, but just in case, in the worst case scenario, is that possible? If i'm holding a legit title anyway?

Please help me decide. Thanks. :)
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Comments

  • KuyaDannyKuyaDanny Moderator PEx Moderator
    I admire you for wanting to bequeath something to your son. But why does it have to be land? And why does it have to be this piece?

    If owning land is important for your son's future, might it not make sense to have him own land he has chosen, and more importantly, land he has acquired with his own savings and earnings? In the meantime, you can preserve the money to provide for your old age.

    Do not take this the wrong way. It's just that I have seen too many families trying to unload land they have been keeping for their kids, only to find out that their kids only want to live in other countries.
  • BeerhandBopBeerhandBop PEx Influencer ⭐⭐⭐
    saan bang lugar to, though?

    anyway ts is young. so kahit ayaw ng kids yung land, ts still has a good amount of lifetime left to use the land. this could be good investment. pero depende sa lugar.
  • KuyaDanny wrote: »
    why does it have to be land? And why does it have to be this piece?

    If owning land is important for your son's future, might it not make sense to have him own land he has chosen, and more importantly, land he has acquired with his own savings and earnings? In the meantime, you can preserve the money to provide for your old age.

    Do not take this the wrong way. It's just that I have seen too many families trying to unload land they have been keeping for their kids, only to find out that their kids only want to live in other countries.

    You're correct sir, I want him to experience life outside Philippines and explore on whatever might be best for his future. If he succeeds, then i might have this land turn into a retirement home. But in case he wants to return home and settle in the Phils., at least he'd have something to fall back on. Like on his own, maybe he could put up an apartment building.

    It's a bit ridiculous but when i think about banks closing down, i worry that the next bank might be mine and dissolve all that i worked hard for.

    My parents taught me to invest in land, though my own brother doesn't agree on this.
  • saan bang lugar to, though?

    anyway ts is young. so kahit ayaw ng kids yung land, ts still has a good amount of lifetime left to use the land. this could be good investment. pero depende sa lugar.

    Naku, thank you sir, but i'm not young anymore. Though i'm still giving my self a good 28 years to live. :)

    It's in Nueva Ecija, Cabanatuan to be exact. I live and do my business here. In my lifetime, i'd seen bare land turn to commercial areas. And i've also seen my bro-in-law's projects, he buys land, builds low cost house and sells it thru pag-ibig. I've seen how this land in the middle of nowhere can turn into a busy well populated residential area.

    The land really isn't for commercial use, pang residential lang talaga. Pwede rin motel/hotel - dami na dito, spa - not advisable, people here would rather drink matador to relax. :lol: It's located near this 1year old private hospital, access road is from a decade old national road built to ease traffic from the national highway.

    Why this.. Because it's the only one offered to me and compared to other sites, it's really cheap. The other sites, i'm sure i can't afford.
  • If I were you po better put up a hollow block perimeter fence. Then develop the land into an orchard. Tutal trees take time to grow kagaya ng mga kids mo po. Kasi pag nakatiwangwang, prone sa squatting iyan. just my 3cents
  • bankerIIbankerII PEx Veteran ⭐⭐
    ang tao dumadami, ang lupa, hinde.
    we dont keep our money in the bank.
    we put it under land inventory.
    he might not use it, but it can sell it.

    another 3 cents. ;)
  • tops5450 wrote: »
    If I were you po better put up a hollow block perimeter fence. Then develop the land into an orchard. Tutal trees take time to grow kagaya ng mga kids mo po. Kasi pag nakatiwangwang, prone sa squatting iyan. just my 3cents

    Thank you sir. Maganda nga po yan! *okay*
  • bankerII wrote: »
    ang tao dumadami, ang lupa, hinde.
    we dont keep our money in the bank.
    we put it under land inventory.
    he might not use it, but it can sell it.

    another 3 cents. ;)

    Thank you sir. A few land owners here are on the same wavelength. They own lands but do nothing with it. The difference, i guess, is they have goons and guns to manage it.
  • I've seen the land sirs, my friend took me there yesterday, there's no fence or marker to show where it starts and ends. He said that if i'm interested, i should have it surveyed at my own expense.

    Do i call a surveyor to plot its actual measurement? How much po kaya ang professional fee ng surveyor, ayoko naman po kasing gumastos ng malaki then in the end hindi ko naman pala makukuha yun land.

    Are surveyors enough to do the job? Or do i need to go one step further and go for a geodetic engineer? Ang alam ko po kasi sa geodetic engineers, pati soil at ilalim ng lupa, study niya.

    As early as now, do i ask the owner for her father's death cert., tct copy.. what else pa kaya?

    Where do i go to verify authenticity of the title/owner?

    Salamat po uli. :)
  • BeerhandBopBeerhandBop PEx Influencer ⭐⭐⭐
    ^ just ask for a xerox of his title muna i guess. and check out kung kanino naka pangalan iyon. if it's under the father's name... then... it gets semi complicated.

    and then go to registry of deeds to verify if it's real or not. that is only if youre really interested. saka ka na mag pa survey and whatnots.
  • ^ just ask for a xerox of his title muna i guess. and check out kung kanino naka pangalan iyon. if it's under the father's name... then... it gets semi complicated.

    and then go to registry of deeds to verify if it's real or not. that is only if youre really interested. saka ka na mag pa survey and whatnots.

    Thank you sir. I'll do that. :)
  • Have you heard iyong tinatawag nilang "Land Banking" that is developing the land to its potential. Just incase ay you plan to use it as a collateral for a loan in the bank or sell it perhaps, the appraise value of the property raises too. Chances are you will get a good marked-up price. my 3cents
  • ^ Thanks, actually, i plan to loan a portion of that amount from the bank as early as now. At least sisiguraduhin nila na smooth yun purchase, maga-guide din nila ko, in a way.

    I asked for my family's insight on this also.

    Sabi ng Dad ko, NO! Not in the province. Wala siyang nakikitang progress sa province. Dami ko sermon yesterday.

    Sabi ng brother ko, kung may nakikita akong potential, go for it.

    My sis naman, just don't tell Dad.
  • Let give you an idea po. Granted na ang cash purchased amount of that property is worth 1M and you have the money right now to pay it in full. If I were you, I will pay a portion of it say 20% by cash and the rest will be finance on a loan via bank. This remaining 80% of 1M in cash, I will placed it in an investment/business to cover the monthly amortization ko sa banko. At the end of the day after religiously paying your amortization, intact pa ang capital mo na 800k at may lupa ka pang worth 1m of which by the looks after those developments, pagdating ng panahon that value of the land is worth more than you purchased it. just my 3cents
  • ^Yup, talked to the bank this afternoon. They said the interest would be 8.75% if paid within the year, or 9.something % if paid in 3 years.

    Naiinis lang ako sa seller, kasi sabi niya before libre na yun "right of way." May sariling title din yun pero libre na. Then this afternoon, pati daw iyon kasali sa computation ng total amount.

    They gave me copies of 4 separate titles, one location map. I'm asking for the other 3 location maps. They said they couldn't locate it anymore, they suggest i hire a geodetic engineer at my own expense. Unfair!
  • was the father-in-law of your friend still alive? better check the papers muna, kasi alam ko medyo madami pa dapat asikasuhin especially on the transfer.

    na experienced ko lang, i was about to purchase a land in Cavite but learned that one of the co-owner is dead with the son in the States, i was told that there should be some legal matters to settle first before i pay, so ayun hindi natuloy.

    as a buyer, wala ka na dapat pang problemahin sa ganun.
  • ittitt PEx Influencer ⭐⭐⭐
    input lang din make sure na walang prob sa land ah? kasi may prob kami ngayon sa land namin. basta mahabang storya. yung isang person sinangla yung land namin sa bank without our permission basta ayun. ot na hehe. para lang sure na walang sabit
  • BeerhandBopBeerhandBop PEx Influencer ⭐⭐⭐
    eto lang ang ma advice ko sayo though:

    whag mong habulin yung land. you have the money, why do you need to chase after the seller? :)

    if the seller is @$$hole/ mahirap kausapin, just let it go. mukha namang hindi ganun kaganda yung lote nya in the first place. you have the money, in this economic climate, you are the king. not the seller. :)
  • brick23 wrote: »
    was the father-in-law of your friend still alive? better check the papers muna, kasi alam ko medyo madami pa dapat asikasuhin especially on the transfer.

    na experienced ko lang, i was about to purchase a land in Cavite but learned that one of the co-owner is dead with the son in the States, i was told that there should be some legal matters to settle first before i pay, so ayun hindi natuloy.

    as a buyer, wala ka na dapat pang problemahin sa ganun.

    The father in law died last year, sabi nila 2 lang daw sibs yun kakausapin ko. What if may illegitimate child yun dad nila na hindi nila alam?
    itt wrote: »
    input lang din make sure na walang prob sa land ah? kasi may prob kami ngayon sa land namin. basta mahabang storya. yung isang person sinangla yung land namin sa bank without our permission basta ayun. ot na hehe. para lang sure na walang sabit

    I asked them to provide me a certified true copy from rd, gusto din nila ako na lang daw magpunta sa rd para kumuha noon. Bum naman yun isang son, at yun son-in-law na kausap ko, andito naman sa tabi-tabi lang. Wala rin naman ginagawa.

    So finally, pumayag na sila kukuha sa rd ng cert true copy, pero gusto nila, xerox lang din ng copy na yun ang makukuha ko. :rolleyes:
    eto lang ang ma advice ko sayo though:

    whag mong habulin yung land. you have the money, why do you need to chase after the seller? :)

    if the seller is @$$hole/ mahirap kausapin, just let it go. mukha namang hindi ganun kaganda yung lote nya in the first place. you have the money, in this economic climate, you are the king. not the seller. :)

    Tinatabangan na nga ako e. Isip kasi nila may iba pa naman buyers, hindi lang ako. Good for them! Lulustayin lang nila yun money. Sinayang nila yun effort ng parents nila.
  • LITHIUM478LITHIUM478 PEx Influencer ⭐⭐⭐
    Tip: In buying real estate, it is always the responsibility of the buyer to verify the title at RD.

    Tama lang ang sagot nila na ikaw dapat ang pumunta sa RD. Second, how they spend their money should not be your concern.
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