JVR - JEVRO Surveying Services

24/07/2024

DUE DILIGENCE: TIPS BEFORE BUYING SUBDIVIDED LOTS

Common Pitfalls and Precautions

Purchasing a subdivided lot can be an exciting investment, but it comes with its share of risks. One prevalent issue faced by buyers is acquiring lots that do not have an approved subdivision plan from the Department of Environment and Natural Resources (DENR). To help you navigate this process and avoid potential problems, here are some essential tips and questions to ask before making a purchase.

Key Questions to Ask:

1. Is this lot with an individual title already and tax declaration?
- If Yes: Great! Proceed with further due diligence. It’s advisable to engage the services of a licensed broker or lawyer to assist you.
- If No: Ask if the seller plans to deliver the individual title and tax declaration for your lot.
- If Yes: This is promising, but still proceed with caution and thorough due diligence.
- If No: Be wary if the seller only promises to deliver a tax declaration because the lot is not titled yet. This likely means the lot is being sold with a paper subdivision only.

2. Is the subdivision plan approved by the DENR?
- If the seller is providing a subdivision plan, ensure that it has been or will be approved by the DENR. If not, be extremely cautious. Without DENR approval, you could face significant issues down the road.

Why Due Diligence is Crucial

The absence of an approved subdivision plan from the DENR is a common problem, particularly in provincial areas. Some sellers, driven by entrepreneurial zeal, may offer lots through simple or complex subdivisions without the necessary approvals, leading to future complications for buyers.

The Role of Professionals

We strongly recommend seeking the services of licensed brokers and/or lawyers to guide you through the due diligence process. The professional fees involved are minimal compared to the potential investment and headaches you could face in the future.

For more information contact Jaclyn Fazon 09398124434

"An investment in knowledge pays the best interest." — Benjamin Franklin



Ctto

19/07/2024

29/06/2024

BAGO BILHIN ANG LUPA
Iparelocate ang property sa isang LICENSED Geodetic Engineer.
Huwag magbase sa turo turo lang. Minsan, iba ang sinasabi ng TITULO sa tinuturong Property.

06/06/2024

Being the child of a family of wealthy landowners, Jose Rizal decided to study for a degree in Land Surveying and Assessment at the Ateneo de Municipal de Manila where he graduated on March 14, 1877, with honors or sobresaliente. He took and passed the licensure exam for land surveying and assessmen...