Asian political parties commit to Green Growth

WITH Pakistan senior Senator Mushahid Hussain Sayed, who might run for Premier in the next electoral round in Islamabad, and former Thai Minister Nalinee Taveesin, now deputy leader of the opposition Pheu Thai Party in Thailand, and our old parliamentary workhorse Aldwin Requejo of Albay, we conferred with South Korean Chung Eui-yong, President Moon Jae-in’s National Security Adviser, who was our secretary-general and later promoted as our co-chairman in ICAPP. He had just returned from gruelling flying trips to Pyongyang, Washington, DC, Tokyo, and Beijing to brief the heads of government there on the progressive talks in Pyongyang between the South-North leaders.

We had the privilege to brief National Security Adviser Chung, former UN Secretary General Ban Ki-moon, and National Assembly Speaker Moon Hee-sang on President Rodrigo Duterte’s policies on economic development and foreign relations, and our plan to organize a small ICAPP mission to visit Pyongyang and hopefully meet with the North Kroean leader as we did with his grandfather, the first North Korean president in 1990.

When Senator Mushahid and we asked our old colleague Chung how is the young North Korean leader Kim Jong Un, Chung described him as “very well-informed on global affairs, very mature, and has a remarkable sense of humor.”

On the Philippine front, we are proud of a successful 30-year-old entrepreneur, who already owns two hotels, Gabriel P. Perez, president of Privato Hotels Manila, who also builds and sells reasonably priced family homes.

With the administration’s “Build, Build, Build” thrust, he says our local property sector is greatly benefitting from the increasingly burgeoning infrastructure program.

From master planners to mediumscale developers to individual investors, he points out the boom is now felt by every Filipino eager to take part in what he calls “the golden age of property.”

And like all other upswing industries, Philippine real estate likewise has its share of fraudsters and scammers who want to take advantage of what he called “the new variation of the gold rush.”

Here are Gabriel Perez’s seven tips on what pitfalls to avoid: 1. Forged titles Syndicates prey on unsuspecting investors by copying old information from past titles (TCT or Transfer Certificate of Title) and passing them off as genuine, updated ones.

A simple litmus test would be to take any title to your local government’s Register of Deeds. Make sure to request for a CTC or “Certified True Copy” to ensure that the title is duly registered with the government agency. 2. Undeclared information A seller or a broker may insist that the title is “clean and free from any loans or obligations.”

By getting a Certified True Copy, you can ascertain if there are any encumbrances that could compromise the property’s viability.

Such encumbrances may include: an existing loan, an extra-judicial annotation, a restriction on construction purposes.

3. Mismatched title and tax declarations

If a title attests to a property’s description and owner, a tax declaration attests to a property’s assessed value and tax payer.

Make sure that the title’s registered owner matches the name on the tax declaration. A buyer may easily check with the local government’s Office of the City Assessor to confirm a tax declaration’s authenticity.

4. Unpaid real property taxes

Before buying a property, ensure that it does not owe the government any back taxes or penalties. To verify the updated standing, a buyer must request for the latest receipts of the annual “Real Property Tax” payments or for a duly-certified Tax Clearance.

5. Unpaid village or association dues

For buyers looking at gated residential lots or condominium units, ensure that it does not have any overdue balance from any association it is part of. You can easily request for a clearance certificate from the village or condo administration before purchasing. 6. Geo hazards. With the prevailing mindset of disaster resilience, it is important to ensure the property does not sit on any geo hazard or fault line. Just bring the title to the Philippine Institute of Volcanology and Seismology (Phivolcs) office, and they will issue an assessment on the safety of your property. 7. Zoning confusion Know your purpose before purchasing. It is important to ask the local zoning authority for a “locational clearance” to itemize the allowed and barred types of developments.

This clearance will state if the property is meant for residential or commercial or agricultural purposes. He says if your main purpose falls out of the zoning clearance, then your project will likewise be stalled.

In summary, real estate has always been guaranteed to keep appreciating through the years and decades.

However, he points out the “best friend in investing comes in two words: Due Diligence.”

The successful young trail-blazer Gab Perez adds: “Invest the time and effort to comb through the integrity of a property and you will surely reap the benefits after. As a finite resource, real estate is sure to bring returns on your investment. “

Gab Perez finally points out: “As Mark Twain succinctly advised ‘Buy Land. They aren’t making it anymore!’”