Real Estate Service Coach [RESC]

5/03/2015

Neither persons nor property will be safe when there is injustice

Where Justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is in an organized conspiracy to oppress, rob, and degrade them, neither persons nor property will be safe. - Frederick Douglass.

12/31/2014

Tree Land should be Tax Free

A friend once asked me: "what legislation would be best to tie up environment and real estate?" I answered: "The nine square meters of land around a tree should be exempt from real property tax because the people in general benefits from that tree. This law would also encourage people to plant trees on the land that they own to minimize tax". Happy new year to all.

If there is anything else important that I forgot to include in this article, or if you experienced a real estate transaction that is anomalous, scam, fraudulent scheme that you want me to document and expose for others to be warned, or if you want to donate to the war chest of real estate consumer rights advocacy, please feel free to email me at JohnPetalcorin@Gmail.Com. If you want to comment about this article, there is a provision for this purpose that you can find below.
Thank you so much for visiting my site. May God Bless You!

10/08/2014

Appraisers to be engaged in SALN investigations

I personally believe that allegations of understatement or overstatement of real estate values in SALN declaration of public officials must be proven with proper certification by a professional real estate appraiser. The problem is, what if the public official will not give consent to a third party appraising service that will be engaged by the allegator? To implement this, there must be a legislation that will require public officials to sign a waiver in their SALN that automatically allows third parties to perform real estate appraising on their property at question, which should also include due-diligence investigation on alleged undeclared assets.

9/29/2014

Date of entitlement to commission

Question: Rltr. John, I have a question about my uncle was an old-time licensed real estate broker in PH. Is he entitled to the commission of a sale transaction that he previously worked on prior to the expiration of his license?

Answer: YES. His date of entitlement is the date he introduced the customer (buyer) to the client (seller or owner). If he was a licensed Broker during that date of entitlement, then he is fully entitled to the commission even if he is no longer a licensed broker at the time the transaction is completed.

5/20/2014

Distinguish "Foreclosed Property" from "Acquired Asset"

When a property owner fails to pay his MORTGAGED PROPERTY, the property will be foreclosed by the bank and that property becomes FORECLOSED PROPERTY. A foreclosed property becomes an ACQUIRED ASSET of the bank after the release of the Court's decision to convey the ownership of the property in favor of the bank. The Court Order usually comes with an eviction provision if there are occupants that need to be evicted.