QUESTION: Rltr. John, I bought a property worth P10Million. The agent says the Notary Public is asking P100,000 (1% of P10M) for the deed of sale. I felt I was treated unfairly, so decided to put the documentation on hold. How much should be the notarial fee of the Deed of Absolute Sale? ANSWER: That’s a rip-off! The correct price tag of notarization of deed of sale is maximum Five Hundred Pesos (P500). Rule 5 Section of the 2004 Rules on Notarial Practice in the Philippines, titled Imposition and Waiver of Fees of Notary Public, states that a notary public may charge the maximum fee unless he waives the fee (meaning, charge a lower fee) in whole or in part. Section 21 of Rule 141 states that the notarial fee for entries of certificates of sale and final deeds of sale in extra-judicial foreclosures of mortgages is Five Hundred Pesos (P500). If I were you, I would skip the headache by having that deed of sale notarized by someone else other that that one being recommended by the agent. By the way, I am surprised that you (buyer) are the one paying the notarization of deed of sale. Notarization of any deed of property conveyance (whether sale, lease, or mortgage) is supposed to be at the expense of the conveyor who executes the deed. Myself, being an Exclusive Buyer Agent, I always believe that a well informed buyer can never be deceived.
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