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Free Legal Advice Philippines » FREE LEGAL ADVICE » PROPERTY » Buying Property with Assume Balance

Buying Property with Assume Balance

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1property - Buying Property with Assume Balance Empty Buying Property with Assume Balance Tue Sep 26, 2017 10:14 pm

edward87


Arresto Menor

Hi to All,

Hihingi lang po sana ako ng advise/guidance regarding on how to buy a house and lot with assume balance. Yung sister ko po kasi merong existing housing loan thru pag-ibig. Ngayon po binebenta nya sa akin yung property, bali ibabalik ko lng sakanya yung amount na nahulog sa amortization niya and ako na ang magtutuloy ng payment. Ang question ko po is paano po ba ang process and ano ung mga documents na kailangan iprovide to transfer the ownership or the assignment of contract to me. I hope my makatulong sakin.
Salamat.. Very Happy

2property - Buying Property with Assume Balance Empty Re: Buying Property with Assume Balance Wed Sep 27, 2017 12:06 pm

karl704


Reclusion Temporal

You may execute a deed of absolute sale with assumption of mortgage. But the best thing to do, if I were you, is to coordinate with the concerned pag-ibig office for the requirements. If you yourself is qualified to have a hosing loan, then they might have it re-processed under your name as the new borrower. If not, they would most probably ask you to submit an SPA wherein your will be authorized by the borrower to transact with them. Again, it would be wise to pay a visit to pag-ibig for the actual process and your options

3property - Buying Property with Assume Balance Empty Re: Buying Property with Assume Balance Wed Sep 27, 2017 10:21 pm

edward87


Arresto Menor

Thank you sir Karl704!

nakausap po ng sister ko yung agent nya na ngbenta sakanya nung H&L and ang sabi po niya is my bayad dw na 10k sa mga documents including notary stamp...totoo po kaya un or minimal lang ang fees for that?..thanks again.. Smile


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