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Wanted to Buy / Lease / Re: Buying a property in the Philippines
« Last post by nardo.steven on January 25, 2017, 03:24:54 PM »
Im thinking of buying a property somewhere in Cavite. Can someone please help me find one?

If you're still interested you should check out They have a pretty wide inventory of listings so I'm sure you would be able to find something that meets your requirements!
General Discussion / ILOILO: Dinagyang Festival 2017
« Last post by ProvidenceIloilo on January 20, 2017, 06:03:34 PM »
Who's excited for the Dinagyang festival this weekend? We are! Dinagyang Festival is a showcase of the rich heritage, colorful history, passionate devotion, and fun-loving spirit of the people of Iloilo.The festival traces its roots as a thanksgiving celebration in honor of Senyor Santo Nińo, the holy child Jesus. It is considered to be one of the Philippines’ most spectacular religious and cultural festivals.
From the root word “dagyang” which means “to make happy” in Ilonngo, which also means making merry or merry-making. It is a celebration of Illonggos who have their bodies painted in black to imitate the black, small and slender negritos who are the aborigines of Panay. While the warriors are dressed in fashionable and colorful Aeta costumes.
Every fourth weekend of the month, the Dinagyang Festival is celebrated in Iloilo to honour the Christianization of the natives and to respect the Holy Child Jesus. What’s more exciting than seeing the streets of Iloilo filled with a very colorful parade of cracking drums and shouts of “Viva Senor Santo Nino!” paired with a dramatization in honour of the patron Sto. Nino as the objective of all performances. Not to mention “HalaBira” as the tribe members celebrate with joy.
The schedule of events are as follows:
Fluvial Procession (Friday)
Kasadyahan Cultural Parade (Saturday)
Dinagyang Ati Competition (Sunday)

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The only residential subdivision in Iloilo
landscaped by World-Class Architect Ildefonso P. Santos,
“The Father of Philippine Landscape Architecture”
This distinct and calming ambiance is found in
no other residential development.
Own a home with Providence Iloilo!
Visit our website or reach us at
Real Estate Laws and Current Events / Re: REAL ESTATE BROKER EXAM FEB.28.2015
« Last post by PinoyBroker on January 18, 2017, 10:09:29 AM »
the only way is to get a license is via the BS REM program
You may consult BIR on this.They have a one stop counter in every office. I would consider this as an installment sale and you're right, it should only be taxed on your "gains"
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General Discussion / Capital Gains Tax Imposed on Sale of Property Under Bank Mortgage
« Last post by woulfe27 on December 21, 2016, 10:18:38 PM »
I have an Avida condo unit that is under mortgage with BPI, and I already paid 1M of the total cost of the unit. I'm selling the unit for 2.4M and BPI said they will help the buyer get a loan so that he may continue with the payments. The plan is for the buyer to pay me 1M and the rest (1.4M) will be financed by BPI via a new loan account under the buyer's name. However, BPI is not sure how the capital gains tax will be applied. Will the capital gains tax be applied to the 1M that the buyer will pay me or will it be applied to the 2.4M cost of the unit?

I checked BIR Form 1706 and there are several options available for computing the tax base that will be used to determine the capital gains tax, but it's all very confusing (Cash Sale, Installment Sale, Foreclosure Sale, etc.). I just think that it isn't fair to impose the capital gains tax on the 2.4M when in reality, I will only earn "gains" from the 1M that the buyer will pay me, and the rest will be received by Avida as payment from the buyer via BPI (through a home loan ).

Any feedback will be greatly appreciated.

Thank you.
If you have somehow acquired a poor credit rating in the past you may have been turned away from bank after bank who is not willing to give you a home loan. There are a number of ways in which you may have been labelled as a credit risk. Loan or mortgage arrears, defaults, judgements, bankruptcy and even company liquidation.

Even if you have entirely paid your judgement or default, this can affect your credit history from lodgement date for 5 to 7 years, even debts you thought may have gone away can come back and ruin your dreams if it is re-lodged by another company. Trying to obtain a loan can become a nightmare simply because you made a few mistakes in the past. But whatever the reason, Bank Said No believe in second chances and that sometimes, the unavoidable just happens, and it doesn’t mean you are a risk forever.
General Discussion / What are the benefits of living in Bacolod?
« Last post by zab04 on December 14, 2016, 08:59:37 AM »
Hello! I just want to ask what are the benefits of living in Bacolod City? My best friend is considering this house and lot for sale in Bacolod - I just want to help her out. Thanks in advance.
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