DY Remax Capital

Thrilled to share that I passed the PRC Real Estate Appraiser Licensure Exam with an 86%! 🙌 Praise God for this incredible blessing. Balancing work, study, and life was tough, but by His grace, I made it through. After completing my Bachelor’s in Real Estate Management last month, I decided to take the exam on August 8, focusing my review on valuation methods crucial to my practice. The knowledge I gained will help me offer even better insights to my clients (inviting you to read more about this in my article). Though the exam had its challenges, I felt God’s guidance throughout, and I’m proud to be close to the top 10 among 1,440 takers! I pray that this achievement and the work I will do with it will glorify God. Thank you to everyone who supported me, and most importantly, thank you, Lord. To my fellow passers, congratulations! And to those still on this journey, don’t lose hope—you’ll come back stronger. If you’re buying or selling property, let’s connect—I’m here to help! 😊

Join us this Sunday, May 26, from 11am-6pm as we unveil Shang Properties' new project in Bridgetowne - Haraya Residences. As a bonus, Atty. Mejia, (also my former law professor), will be giving a talk about estate planning at 1:30pm. Learn about what you need to do when you inherit properties and more. Don't miss out on this exclusive opportunity! Send me a message to save your spot and for more information. Thank you and see you there!

I recently closed my first deal involving bank financing—thank God! 🙏 This experience has significantly broadened my understanding of the challenges sellers face with bank-financed offers, particularly the extended wait—up to six months—for fund disbursement. This can be a major barrier in real estate transactions.

To overcome these delays, buyers can consider strategic moves like obtaining a pre-approved loan or using alternative properties as collateral. These steps not only expedite the process but also make offers more attractive to sellers.

For buyers looking to make their bids more appealing and sellers desiring faster closings, such solutions can be game-changers. If you’re interested in learning how these strategies could streamline your next transaction, don’t hesitate to reach out. I’m here to help navigate these complexities for smoother and faster deals.

Looking forward to more successful collaborations!

🌟 Additionally, for those interested in condo investments in BGC with an attractive yield, or searching for a new starter home, take a look at my freshly listed 1-bedroom condo with a stunning golf course view at Fairways Tower.

🔗 1BR (52SQM) SEMI-FURNISHED CONDO IN FAIRWAYS TOWER, BGC', available at PHP 10,950,000 on https://carousell.app.link/n9vf1pw61Ib

1BR (52SQM) SEMI-FURNISHED CONDO IN FAIRWAYS TOWER, BGC PHP 10,950,000 | FOR SALE: 1BR (52SQM) SEMI-FURNISHED CONDO IN FAIRWAYS TOWER, BGC: 52sqm Floor Area 1 Bedroom 1 T&B Semi-Furnished Tenanted until August 2024 South Wing; Golf Course View Gross Selling Price: P11M (inclusive of CGT and PF) as of 2024.04.22 Cash buyers only. Clean Title. This is open...

Thank you Lord :)

Happy to share this recognition in Real Estate from RE/MAX Philippines during last week’s Awards Night. Last year, I was honored with the Executive Club award, and this year, I received the 100% Club award. It’s a proud moment for me, and I am truly grateful 🤗

I also want to extend my heartfelt congratulations to my mentor, team leader, and dear friend Gerald Evangelista for leading our team to earn the Diamond Award, and for being a Top Commercial Producer. Your expertise and leadership continue to inspire me every day 😎

A huge thank you to my clients for your trust and the opportunities you have shared with me. And above all, thank you Lord, for blessing me with these achievements and guiding me on this journey 🙏🏼

If you ever have questions about real estate or just want to chat about the market, feel free to reach out. I’m always here to share insights or offer guidance, whether you’re buying, selling, or simply exploring your options ☺️

URGENT: "IDLE LAND TAX" Imposed - Are You Affected?

Attention property owners! While you're familiar with the annual REAL PROPERTY TAX (or "amilyar"), there's another tax you need to be aware of if you own vacant land: the IDLE LAND TAX.

This tax, authorized under Republic Act No. 7160 (the Local Government Code of 1991), permits local government units (LGUs) such as cities and municipalities to impose an additional tax of up to 5% on the assessed value (as indicated in your Tax Declaration) for idle land e.g. vacant lots. While not all LGUs have adopted this tax, some, including Bacoor and Dasmarinas in Cavite, started enforcing it in 2023.

Why This Matters:

1. Increased Holding Costs: For instance, a client with a 306 sqm vacant lot in Bacoor's Portofino Heights used to pay an annual real property tax of P8,920 (2% of the assessed value). With the introduction of the 5% IDLE LAND TAX in 2023, they now face an extra P22,300 per year!

2. Impact on Property Sales: When selling a property, a TAX CLEARANCE and a current CERTIFICATE OF NO IMPROVEMENT are requirements for the title transfer process. This means you'll need to settle both the Real Property Tax and the IDLE LAND TAX up to the current year, which could significantly increase your costs if there are unpaid taxes and penalties.

How to Check if You're Subject to the IDLE LAND TAX:

Reach out to your LGU's Assessor (e.g., the City Assessor at your City Hall) to obtain an updated REAL PROPERTY TAX BILL (or Statement of Account). This document should list all applicable taxes.

Cautionary Tale: Last December 2023, a seller in Bacoor discovered that their Statement of Account didn't initially include the IDLE LAND TAX. However, when they were finalizing the sale of their property, they were informed that they needed to pay the IDLE LAND TAX to obtain a CERTIFICATE OF NO IMPROVEMENT.

Is There a Way to Avoid This Tax?

Unfortunately, if your city has implemented the IDLE LAND TAX, you are obliged to pay it for owning idle land.

Advice for Vacant Lot Owners:

1. To prevent your lot from being classified as "idle," consider building a fence around it, which will require a building permit and a separate Tax Declaration.

2. Before signing and notarizing your DEED OF ABSOLUTE SALE, secure a TAX CLEARANCE and CERTIFICATE OF NO IMPROVEMENT.

Stay informed and proactive to avoid unexpected financial burdens. For further assistance, consider consulting with a legal or real estate professional.

About the Author:

Frederick "Derek" Yazon is a Corporate Executive turned Real Estate practitioner with 11+ years Senior Management Experience. Since joining RE/MAX Capital, RE/MAX's largest franchise in the Philippines, Derek has helped multiple clients sell properties and acquire great investment opportunities across the country. With “Service Beyond Sales” as his philosophy for success, clients are always assured that Derek has their best interests in mind; finding only the best deals with win-win solutions for sellers and buyers alike.

Need Real Estate assistance? Let's work together!

Wishing you all an amazing 2024!! God bless!! 🙏🏼🤗🥳

Merry Christmas from Team GE!! .realestatepro .ph 🥳🥳🥳

Honored to be part of ’s 2023 YTD Top 40!!

Selling your vacant lot? Let’s talk!!

Delighted to share that RE/MAX Capital has invited me to speak again at the coaching session on September 13. Following last year’s presentation on my Real Estate Journey, this time I’ll be delving into more intricate territory. I’ll be sharing some of my toughest experiences and some strategies from my corporate background that helped turn those challenges into success stories (thank God! 😅).

Our coaching sessions remain a regular fixture for associates at RE/MAX Capital to foster continuous learning. We still have slots available for individuals who are genuinely contemplating entry into the real estate industry, so if you are keen on getting into this business, please reach out to me. Your journey in real estate could be just around the corner! 😎

Hi everyone. I’ll be producing some educational videos and/or articles more regularly.

Can you please comment/DM me any questions you have about real estate?

Cheers!!

Derek

I recently had the pleasure of dealing with a non-english speaking buyer for one of my earliest listings. Thank God the deal closed!! 🙏🏼 and more importantly: seller and buyer are happy!! 😅

Looking back, I was very blessed to have professional translators who I also connected with. Regardless, here are some key things I believe will help when dealing with language barriers (in any industry):

1. Be CLEAR and SIMPLE with your words and voice.
2. SHOW work processes through simplified lists or flow charts.
3. Always CHECK FOR UNDERSTANDING. Face to face meetings will be best so you can gauge emotions and create opportunities to see what everyone understood.

Have a great week and God bless!!

Derek

P.S. This was a candid pic but I promise we were all smiling and having light moments during that meeting ;)

How much discount should landlords give for advanced leases?

A friend of mine looking to rent out a property for a year at a monthly rent of P100k was offered a full year payment of P1M (i.e. a ~17% discount), and asked me if he should take it.

One thing to consider is the Time Value of Money. If you would be putting your P100k monthly rent into, for example, a time deposit with an annual interest of 5%, you would have P1,233,002 by the end of the 12-month lease (principal + monthly interest).

Alternatively at the same interest rate, you would only need to deposit P1,173,000 today to have that same amount after 12 months, and this would somewhat be your breakeven figure for an advance payment.

More importantly though, how much do you need the cash right now, and how much do you value your future efforts to ensure monthly payments are made (and on time)? If you can use that advance payment already and save yourself the hassle of collecting (e.g. in case of bounced checks etc.), then go for it; however, try to negotiate to an amount closer to your breakeven (P1.1M would be fair?), and make sure your contract is clear in case there would be a need to preterminate etc. 😎

Happy weekend and God bless,

Derek

For those of you living in San Juan looking for an upgraded townhouse, we have our last 2 units for sale at Gruet Heights. Please send me a message if you would like to check it out this afternoon :) Happy weekend!!

Derek

Happy Easter!! 🤗🙏🏼

Are you planning to buy or sell a real estate property owned by a corporation? It is important to note that this process has additional requirements compared to buying or selling properties that are individually owned. In my recent transaction, I learned first-hand about the process and here are three key things to keep in mind for a smooth and successful transaction:

1. Make sure you have a notarized Board Resolution and Secretary’s Certificate

The Corporate Seller needs to have a Board Resolution signed by all members of the Board and a Secretary's Certificate signed by the Corporate Secretary regarding the sale of the property. A board resolution is a formal document that outlines the decisions or actions taken by the board of directors during a meeting; whereas a Secretary's Certificate certifies that a particular board resolution has been duly adopted and is in full force and effect. To avoid any questions from BIR (and Registry of Deeds), these documents should be complete and notarized.

2. Check if the property is an “Ordinary Asset”

An “Ordinary Asset” is an asset that is held for use in the normal course of a business or trade. If the property being sold is classified as an Ordinary Asset by the BIR, the Seller will be subject to 12% VAT, Corporate Income Tax, Business/City Tax*; in addition to a 6% Withholding Tax (instead of Capital Gains Tax). In practice, here are some elements BIR will use to tag a property as an Ordinary Asset:

• If the name of the corporation implies that the corporation is in the real estate business (e.g. DY Real Estate Inc., DY Leasing Corp. etc.)
• If the line of business (regardless if primary/secondary/etc.) on the Corporation’s BIR 2303 Certificate of Registration states that the corporation is in the business of Real Estate Buying, Selling, Renting, Leasing (i.e. code 68110).
• If the Corporation’s Audited Financial Statements show any Depreciation Expense on the real estate property (usually found in the notes to financial statement).

Ultimately, a property’s classification as an Ordinary Asset will significantly affect a Seller’s net proceeds. While property owners can engage BIR to justify whether or not a property is an Ordinary Asset, from a practical standpoint, BIR will try to maximize its revenues and interpret a property’s documents in that regard.

3. Make sure to get an Official Receipt for the Sale

The sale of Corporation Owned Properties will (more often that not) require an Official Receipt. If the seller is a dormant/inactive corporation, the seller should ensure they have Official Receipts on/before signing the Deed of Absolute Sale. Furthermore, to avoid complications or delays, make sure the notarization date on the Deed of Absolute Sale is the same as the date on the sale’s Official Receipt.

In conclusion, selling or buying corporation-owned properties requires careful and thorough understanding of the process and potential challenges, and it is essential to be well-informed to ensure a smooth transaction. If you need to consult or are looking to sell or buy a property, feel free to reach out to me for assistance.

Last and definitely not the least, I would like to express my gratitude to God for the opportunities and new clients, and for this recognition following a great start to 2023 😊.

Each real estate transaction has truly been a unique and valuable learning experience, and I'm grateful for the chance to help clients achieve their real estate goals.

Until next time, take care and God bless,

Derek Yazon



Disclaimer: This article is based on actual personal experience and research, and is intended to provide general information and tips for selling and buying corporation-owned real estate. Real-life practice is subject to interpretation and may not always follow textbook guidelines. While every effort has been made to ensure the accuracy of the information presented, readers are advised to consult with legal and financial professionals for specific guidance on their individual transactions. The opinions expressed in this article are solely my own and do not necessarily reflect those of any organization or entity.

RE/MAX CAPITAL is a leading Real Estate brokerage in the Philippines, that is part of the global RE/MAX network. As the top producing RE/MAX franchise in the Philippines evidenced by 5 consecutive Office of the Year awards, RE/MAX Capital combines the brand's reputation for excellence, trust, and credibility with a team of passionate, professional, and knowledgeable Real Estate brokers. The company's agents have access to a wide range of benefits and resources, including continuous training programs and cutting-edge technology tools. They are also provided with a wide range of support services such as business coaching, mentoring, and networking opportunities.

RE/MAX Capital's team of 90+ PRC-licensed brokers and salespersons is dedicated to providing clients with exceptional service and the best deals in the market. With RE/MAX Capital, clients can be confident that they are working with the best in the business.

Suffice it to say, I am honored and proud to be part of my RE/MAX CAPITAL FAMILY 😎

P.S. If you are looking to start your own real estate business with us, I'm looking for like minded professionals to recruit 😉

It is with great pride that I share with you the work of my dear friend Karisa Yee who designed this minimalist resort home in Los Baños. If this style matches your taste and preferences for a home you are planning to build, please consider getting her as your Interior Designer, and feel free to reach out to her via her FB business pages: Karisa Yee Design Studio

Alternatively, if you are looking to purchase a vacation home/resort in Los Baños (also known for its hot springs and numerous tourist attractions) for personal use or even as a rental business, I am also selling this resort home; please send me a direct message for more information 😉

https://metro.style/living/home-tours/playful-minimalist-resort-home-by-karisa-yee/34729

Sombrero Accents And Tropical Details Made This Resthouse A Uniquely Elegant Retreat Designer Karisa Yee went the minimalist approach in this boho space, with enough quirk and playfulness for a tasteful and sunny space

To my clients in Alabang/Parañaque/Las Piñas: for your LTO needs (car registration renewal etc), this branch along Daang Hari Road has been consistently efficient for me 🥳

Pic for reference; it’s right across Alabang West Parade.

Hope this helps,

Derek

For the freelancers here (or those of you registered as professionals with BIR), just a reminder that the Annual Registration Fees are due on/before January 31, 2023.

Should you be doing this on your own, you may want to check out this content creator's vlog about this on Youtube: https://lnkd.in/gUH2z6CN

Have a great week and God bless,

Derek

File & Pay the Annual Registration Fee (SEE LINK ON DESCRIPTION) UPDATED VIDEO GUIDE BELOW:https://youtu.be/0SXDuMlIkqs

for this opportunity and first successful sale of many this 2023! I am humbled and truly grateful, especially for my buyer’s trust to quickly secure this BGC condominium at such a great price. Thank you also to my 80+ colleagues at RE/MAX CAPITAL, who have been listing great deals ahead of many others 😅

To all potential buyers out there, if you are in the market for a investment in Makati/BGC, I would be honored to assist and guide you through the process. Together, we will find your dream property too 😎🙏

I once sold a 1-bedroom condo at Icon Residences BGC to an investor for a great price mid-pandemic, and I just had to share my colleague’s listing, which is selling for the same price (and comes with a parking slot)!

The design and feel of this condo would make for a great bachelor’s pad (this was even featured in the Condo Living magazine). Furthermore, if you love hanging out in hip places like Dr. Wine BGC, Icon Residences is just 300m away.

If you are a bachelor looking for your own place, or if you have the cash for an investment you can easily rent out to bachelors (like me😉), please send me a message for more information and to schedule a viewing.

Have a great week and God bless always,

Derek Yazon
Associate, RE/MAX Capital

P.S. Zonal Values for Taguig are scheduled to increase this 2023

Disclaimer: This listing is open to Direct Buyers only (posted with the permission of the authorized licensed broker).

For those of you who want to live in Portofino Heights, check out my best priced vacant lot there for only P16M gross!

Please message me to schedule a viewing or for more information.

Have a great week and God bless always!!

Derek Yazon
Associate, RE/MAX Capital
PRC RES # 14769
+639178433735
[email protected]