Bank housing loan

[earthlyken]

Hello guys,

Quick question, normally if we buy a property thats under the name ng tao na, we normally negotiate who is going to pay the capital gain tax sa BIR.

Now how about if we acquire a property (assume balance) from a person (we signed all the xfer of right and approve by the bank) and the title is under a banks. When we finish paying the monthly due..bank now is going to execute deed of sale, in this case...should the bank shoulder the capital gains tax of BIR?

Hope someone can help us..

TIA..you guys are the best!

[minicarph]

nope the bank is considered a coporation therefore that is not a capital asset but an ordinary asset. capital assets are taxable by taxable by capital gains tax, ordinary assets are considered taxable as corporate income tax and also vAtable, pero depende ata sa presyo, pag less than 1.5M vat free.

pero if you gonna ask what's the difference in terms of amount to pay, both are 6% whether capital or ordinary asset. but with capital gains, the seller pays. with ordinary assets, buyer pays.

think of ordinary assets as buying a car, di ba you pay for the taxes.

[dr. d]

carpy, you surprise me sometimes!

[Little Missy]

carpy, you surprise me sometimes!

He cracks me up with his weird comebacks sometimes. But yeah, I didn't expect this from him. [emoji23]

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[minicarph]

well isa yan sa mga dapat na alam ko sa line of work eh hihihi

[kaidemitsui]

well isa yan sa mga dapat na alam ko sa line of work eh hihihi

Baka po matulungan mo ko.
I purchased a house and lot sa isang subdivision. Approved na ng bank and may bank guarantee na. On going na transfer of title to my name. Tapos na ang bahay and pede na lipatan. But the developer won't allow me to move in kasi di pa sila bayad ng bank. And di naman magbabayad ang bank til malipat sa name ko ang title. Ang problema, inaabot dw ng 6 to 8 months ang process ng transfer of title. Ano po pede ko pa gawin para maka move in na kmi?

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[chronicle]

Baka po matulungan mo ko.
I purchased a house and lot sa isang subdivision. Approved na ng bank and may bank guarantee na. On going na transfer of title to my name. Tapos na ang bahay and pede na lipatan. But the developer won't allow me to move in kasi di pa sila bayad ng bank. And di naman magbabayad ang bank til malipat sa name ko ang title. Ang problema, inaabot dw ng 6 to 8 months ang process ng transfer of title. Ano po pede ko pa gawin para maka move in na kmi?

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Typically ganyan ang style ng mga developer. Pinapatagal ang transfer of title para in the mean time magbabayad ka sa developer to move in.
But if my option ka na to not move in and not pay the inflated monthly for x months, take it.

Ngayon, kung may hinahabol ka na promo sa bank and booking it needs to be done asap, no choice ka. Pay for x months and move in.

Based on exp, it took me less 3 months to transfer the title to my name. Sabi lang nila na 6 months yan. Just demand and pressure the developer but be nice to them of course.

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[papi smith]

Baka po matulungan mo ko.
I purchased a house and lot sa isang subdivision. Approved na ng bank and may bank guarantee na. On going na transfer of title to my name. Tapos na ang bahay and pede na lipatan. But the developer won't allow me to move in kasi di pa sila bayad ng bank. And di naman magbabayad ang bank til malipat sa name ko ang title. Ang problema, inaabot dw ng 6 to 8 months ang process ng transfer of title. Ano po pede ko pa gawin para maka move in na kmi?

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Wow, ganito pala ang bank loan? I thought it was just as simple as the TCT of the developer, DOAS to you, RE Tax paid and they release the payment to the developer. Title transfers by my experience takes at least a year from date of full payemnt. DOAS ko nga 6 months after full payment.

[papi smith]

Typically ganyan ang style ng mga developer. Pinapatagal ang transfer of title para in the mean time magbabayad ka sa developer to move in.
But if my option ka na to not move in and not pay the inflated monthly for x months, take it.

Ngayon, kung may hinahabol ka na promo sa bank and booking it needs to be done asap, no choice ka. Pay for x months and move in.

Based on exp, it took me less 3 months to transfer the title to my name. Sabi lang nila na 6 months yan. Just demand and pressure the developer but be nice to them of course.

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Ganyan ba SOP nila? That is unfair, kasi I think it is automatic in the CTS that upon reaching certain date, usually full payment of DP, the monthly amortization on the loan balance kicks in autimatically. That's why dami reklamo on penalty charges, due to unpaid amortizations waiting for bank payment. Eh di pala sa bank problem yun, but sa developer? Tsk.. tsk...

[chronicle]

Ganyan ba SOP nila? That is unfair, kasi I think it is automatic in the CTS that upon reaching certain date, usually full payment of DP, the monthly amortization on the loan balance kicks in autimatically. That's why dami reklamo on penalty charges, due to unpaid amortizations waiting for bank payment. Eh di pala sa bank problem yun, but sa developer? Tsk.. tsk...

Yeah. I think this is the SOP of most developers unless the developer is also affiliated with the bank.

Na approve na loan pero still cant proceed since transfer of title needs to be done which in reality may take a month of so if all things went smooth. Pipigain ka talaga minsan kung di ka demanding.

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