CG Garcia Appraisal and Land Title Services is a leading professional firm engaged in real estate services. We have more than 50 years of experience in helping many individuals and companies with different kinds of real estate needs. Our main goal is to provide professional real estate services because we want to help you make the right decision on your properties.
Our other services include Land Conversion, Transfer of Title, Cancellation of Mortgage, Registration of Mortgage, Property / Real Estate Due Diligence among others.
CG Garcia offers land conversion services. Land conversion is the act or process of changing the current physical use of a piece of agricultural land into some other use such as commercial, industrial etc. as approved by the Department of Agrarian Reform. Generally, the term Land Conversion is used for change in the nature, character and use of the land. If you own a piece of agricultural land that is lying vacant, you can change its land use, the purpose for which a land can be used by law, and get it converted into a residential or industrial property after obtaining necessary approvals from the local authority.
Transfer of Title
One of the most important steps to be taken care of before and after the end of the purchase is a Transfer of Title. A Transfer of Title is the act of point in place at a time in which the ownership of a certain property has passed from one person to another. Acquiring that coveted land title is surely a tedious and long process which can take several months to complete so even before purchasing, you should always have a planned out map on how you would execute the transfer of title. If you are not able to do this personally, it is best to hire someone like CG Garcia to do the Transfer of Title for you.
Cancellation of Mortgage
To start things off, a Mortgage Contract is a binding agreement between a lender and a borrower, but federal law allows the grant to cancellation of the mortgage within three business days of signing the loan papers. This right of rescission is the grace period given to borrowers; it gives them time to reconsider whether the purchase of the home was the right one. Let’s put the case that you have a pending balance at a mortgage of PHP100,000. You then decide that you would like to pay off in one go. Then the first thing to do would be to send a bank transfer to the mortgage’s bank account. Once this is done, we advise to require the bank to prepare a standard private full payment confirmation letter called “certificate of mortgage economic cancellation”.
Registration of Mortgage
In a registered mortgage, the borrower has to create a charge on the property with the sub-registrar through a formal, written process, as a proof of transfer of interest to the lender as security for the loan. When a borrower purchases a new mortgage, the debt is registered with the local government by the closing agent to record a legal debt. This lists the debt on the deed to the property. This means that the debt must be paid in full or released by the lender before the property can be transferred.
Registration of mortgage protects the current line holder and any future owners of the property. Registration of Mortgage also prevents another buyer from purchasing the property without knowing that there is a debt secured by it. A Registered mortgage can also be identified as 'Deed of Trust'.
Property / Real Estate Due Diligence
The practice of Real Estate Due Diligence is becoming more widespread, during real estate acquisition negotiations, in order to verify that the acquisition is not hiding any unpleasant surprises before any offers are made. Real Estate Due Diligence is the complete survey of a property or real estate asset. It brings together all the knowledge and information that is useful for the buyer to know before proceeding with the purchase. Real Estate Due Diligence confers the right value to the property, makes a complete analysis of it from a construction, city planning or environmental point of view, the urban compliance removes any doubt about the existence or fewer obligations, of collateral and clarifies who the property is attributed to. Real Estate Due Diligence happens by bringing together all possible data relating to the property and by crossing them amongst themselves.
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Below is the complete list of CG Garcia Appraisal and Land Title Services
- Land Title Transfer
- Due Diligence
- Consolidation/ Subdivision of Title
- Registration/ Cancellation of Mortgage
- Reconstitution of Lost Title
- Amendment of Technical Description of Title
- Cancellation of Annotation on Title
- Assist in the Assessment and Payment of Real Property Taxes
- Land Conversion
- Real Estate Appraisal Services
- Relocation/ Boundary Survey
- Subdivision Survey
- Topographic Survey
- Title and Tax Declaration Verification
- Traceback of Ownership/ Due Diligence
- Verification of Technical Description of Title
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