All Forum Posts by: Jovi Tupaz

Thanks @James Vermillion !
I really enjoy reading the articles and topics here at BP.

Your first line made me laugh and I understand your situation! The price we have to pay for love and peace.

Like what Ryan mentioned, it is really hard to find decent and trustworthy contractors in any part of the world (including here in Manila). What I suggest is to make a report to the police in case they do come back and try to get even. For contractors, I would always ask for referrals and licenses to make sure they are legitimate. I would also get copies of valid IDs of those who will be working on the project so that I can have something to hold on in case something happens.

Good Luck

I am really interested in getting your property BUT I'm limited with my budget. Just call me soon if you change your mind before I change mine

I would go with Option 2 as this seems to be the easy way out for you. Being a contractor and selling houses is no simple laughing matter. Just help a relative and if you get substantial returns on your efforts, then so be it.

Good Luck

I believe that the 30% downpayment rule made our banking system and real estate industry resilient to global economic trends. As to market buyers, about half of them would be from our countrymen who work abroad and send back 80% of their earnings to their families who are left here.

Real Estate is really a dynamic industry anywhere you go... and that's why I love it!

Thanks Kyle! I just discovered how to change my profile name. I believe I left it blank when I registered 4years ago.

Real Estate in the Philippines is still informal in that anyone can sell properties to anyone without proper authorization, background checks, etc. Most transactions are still built on trust and a handshake so to speak. The first Real Estate Law (RESA 9646) which was passed 2010 will hopefully change all of these. To date, no one has yet been imprisoned or even brought to the courts since the law still lacks the proper implementation.

Don't get me wrong. . . Real Estate rules and regulations have long been in place but proper implementation and information are still lagging. I am confident though that things WILL CHANGE soon.

The last property bubble that we had was during the Asian crisis of 1997. Since then, it has been going higher and higher. What makes our industry stable is that most property developers would require at least a 30% downpayment and a secured bank financing prior to the actual turnover of unit.

I do hope I made a good (and honest) initial impression of the real estate industry in my country.

Jovi Tupaz
Licensed Real Estate Broker, Appraiser and Consultant
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I actually registered here sometime 2008 but completely forgot about the site so this is "sort of" my coming out again. I found (again) this site while browsing and looking for articles to share in my Philippine Real Estate websites.

I'm interested more on Global real estate trends and practices that I can share to my website readers who are mostly licensed real estate practitioners like myself. Hope to gain more friends here!