Simplifying Real Property Transfers 🏡

Buying property? Here’s a quick guide:

✅ Notarize your Deed of Sale.

📅 Submit it to the BIR within 30 days to settle the necessary taxes.

💸 Sellers are responsible for:
-6% Capital Gains Tax
-Withholding Tax (if selling as a corporation)
-Any unpaid real estate taxes
-Broker commissions

🧾 Buyers should prepare for:
-1.5% Documentary Stamp Tax
-0.5% Transfer Tax
-0.25% Registration Fee
-Plus other incidental costs

📄 After paying these, secure a Certificate Authorizing Registration (CAR) from the BIR.

🏢 Finally, go to the Registry of Deeds and apply for your Transfer Certificate of Title.