San Vicente Palawan Real Estate Brokers | San Vicente Palawan Master Plan
Updated: June 2017
San Vicente Palawan has also caught the interest of Real Estate Brokers and many Real Estate Agents/Salesmen who are actively scouting properties for sale. Some licensed real estate practitioners are also consolidating bigger lots to be offered to major investors, particularly those in real estate development and hospitality industries.
Although it is a must for buyers to get hold of licensed Real Estate Brokers who are locals of San Vicente Palawan (as they are expected to know the legal processes, as well as ownership issues in their locality), there are only around five (5) local Real Estate Brokers who are licensed in San Vicente.
Just like many other municipalities in Palawan, San Vicente is also flooded by fly-by-night brokers and real estate agents/salesmen not registered with the Professional regulations Commission (PRC). Although is is very easy to check if a person is licensed or not by verifying their license number at the website of PRC (just enter the full name and license number HERE), some buyers were tricked by some fake PRC-issued ID, any other company ID’s or government documents (like DTI Business Name Registration Certificate) presented to them by some fly-by-night practitioners. DTI Certificate is only a proof of business name registration, not the practice/profession.
The current land titling problem in Palawan was attributed to some malpractices by some fly-by-night agents who just sell properties without conducting due diligence and taking into account the provisions of law. Land titling in Palawan is currently suspended by order issued by the then Secretary of the Department of Environment & Natural Resources, Ramon Paje. Read here for more details.
Investors who are buying directly from the land owners are advised to check with the Office of the Barangay Chairman for known issues, if there is any, of the lot they are interested in. Interviewing local residents, preferably elders, are also encouraged to check for unreported issues, if there is any, on a particular land. A third party to check the consistency of records with various government offices is also necessary. Buyers are also suggested to engage the services of their lawyer to conduct the rest of the due diligence process. After closing the deal with the land owner, processing of the title transfer follows. While processing the registration of sale and the transfer of title to the buyer, It is also important to have their property fenced and the records of the concerned government offices be updated to reflect their name as new owner of the lot.
While there are some buyers who prefer to buy on their own, many buyer prefer to buy though the help of licensed Real Estate Brokers as they are required by their profession to conduct due diligence.
Many licensed Real Estate Brokers in San Vicente Palawan do not charge their clients for the service as they get professional fees from the land owner. They conduct are required by their profession to conduct due diligence. They also offer for FREE the service to process the registration of sale and transferring of land title. Its only the service (processing) that is free. Notarial expenses, taxes and fees payable to the government and its instrumentalities still have to be paid by the buyer.