One of the most common misconceptions I still hear in RE taxation is this: “A condo that has stayed vacant for more than 2 years automatically becomes a capital asset, so its sale is no longer subject to VAT.” I’ve heard this argument from brokers, accountants, and even lawyers. The confusion usually comes from BIR Revenue Regulations (RR) No. 7-2003, which discusses “idle” assets. Yes, the RR says that ordinary assets may be converted into capital assets if they have not bee

You know how absurdly long the payee details for real estate tax manager’s checks can get? Something like: “BPI ROCKWELL BRANCH FAO BUREAU OF INTERNAL REVENUE IFO MARIA THERESA BELINDA A. GURANGO TIN 000-000-000” (For those unfamiliar, FAO means “For the Account Of” while IFO means “In Favor Of.”) In one transaction, the bank even complained that the payee details were too long for their system’s check writer. So when I first heard that Landbank would accept checks payable si

Once upon a time, a broker had a client looking for a pre-selling condo unit. The broker spent weeks searching for options. He shortlisted multiple projects, coordinated showroom visits, compared layouts, discussed payment terms, analyzed locations, and patiently walked the client through the pros and cons of each property. Some projects were too expensive. Some had poor layouts. Others simply didn’t feel right for the client. After several viewings and follow-ups, the broker

The peso has quietly moved from around 55 to the dollar in May 2025 to nearly 61 today, one of the weakest levels we’ve seen historically. And while most people immediately focus on the negatives, every market event has two sides. A weaker peso hurts importers because they need more pesos to buy the same amount of US dollars for imported goods. But on the other side, exporters benefit because they earn in US dollars while many of their expenses remain in pesos. And there’s an

So how do sellers and buyers avoid DB-type brokers? 1. Learn how to spot them. DB-type brokers usually sound smooth at the start. They throw around phrases like “sure buyer.” They make everything look frictionless because their priority is speed. One major red flag is when they discourage legal review or make you feel guilty for consulting a lawyer—because many brokers know that lawyers often complicate, or even derail deals. A proper broker should welcome due diligence, not

Once upon a time, a broker (let's call him MB) was handling the sale of a condo unit. Like many listings in the PH, the listing was non-exclusive, so several brokers were marketing the unit. The keys remained with MB and he simply lent the keys to other brokers. MB handled the listing professionally. He advised the owner that the asking price was too high based on market feedback. He marketed the property in all platforms using gross pricing terms instead of “net to seller” p

Last week, a random person emailed us regarding a planned property acquisition. Person: “I read one of your FB posts regarding the Certificate of Non-Tenancy requirement. I’m buying a condo with parking, but the building admin said a Certificate of Non-Tenancy cannot be issued because the seller rented out the unit. My agreement with the seller is that I shoulder all taxes and fees from the DOAS until the Tax Declaration is transferred to me. Is there anything that can still

Once upon a time, on a quiet December afternoon, just as the long holiday break was beginning, a broker received a call from a tenant. Foreign Tenant: “[Broker], the aircon in the second bedroom stopped working. The ones in the living room too. Three out of the four units are down. Please make sure this gets fixed as soon as possible. My son is arriving before Christmas.” Broker: (Already sensing the problem) “Yes sir. I’ll arrange it.” The broker immediately called their tru

Did you know that banks in the Philippines share credit information through systems commonly referred to as “Negative Databases” or “NDB”? In simple terms, banks don’t only look at your relationship with them. They also look at your overall financial behavior across the banking system. How does it work? If Juan applies for a loan or credit card, the bank may check: + Existing loans and credit card obligations + Payment history + Past defaults or restructurings + R

Broker: Juan, quick question. I’m about to close a deal tomorrow and the owner can’t find the original Tax Declaration. Is that a problem? Juan: Not necessarily. For title transfers, what’s usually required is a CERTIFIED TRUE COPY of the Tax Declaration from the City Assessor’s Office — not the owner’s physical copy. The reason is simple: assessment values get updated from time to time, and owners are often notified without being issued a new physical copy immediately. In ma