Connecting Buyers and Sellers of Philippine Real Estate
What are the Typical Real Estate Closing Costs in the Philippines?
What and how much are the typical closing fees that a buyer and seller usually pay in the Philippines? (i.e. taxes, transfer fees, lender fees, etc.)
Tags: real estate fees, closing costs
Replies to This Discussion
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Permalink Reply by Realtor® Anna Nisperos on -
All Taxes and Fees are based on the Deed Of Sale Selling Price for any property. Here is a normal standard breakdown of who pays for what, unless other agreements have been made between the buyer and seller:
Seller Pays:
1. 6% Capital Gains Tax to the BIR.
2. Brokers Commission (whatever was agrred upon in the Authority to Sell Letter).
3. 1/2 of the total cost of Notary Fees.
Buyer Pays:
1. Documentary Stamps which is 1.5% of the Selling Price.
2. New Title Registration Fee of .25% of the Selling Price.
3. Title Transfer Tax of a maximum of .75% of the selling Price.
4. And a Service Fee and Issuance of Title Fee of about Php 5,000 maximum.
5. 1/2 of the total cost of Notary Fees.
Realtor® Anna Nisperos
PAREB & PMRB
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