Land buying, how much is the Notary fee for Deed of Sale?

    All i find online that it should be 1-2%.
But here in Mindanao this greedy vulture asked for 5% and acting like he is jesus himself when lowering it to 3%.
   

    -@Lothar Scholz

Notary fee? Do you mean to have your doc's notarized? Our attorney did all that as well as a long term lease, title transfers, Municipal liaisons and rate adjustments etc. we purchased the house and lot, her bill was P20k. Done and dusted.

Notarizing doc's only can vary place to place from 100 to 500 pesos depending on the quantity.

OMO.

Cheers, Steve. 

Its 1% of the purchase price for a contract deed of sale. If you type it up yourself or use a template, it cost 500 Pesos for notary.

if you title the lot it is 6.5% for capital gains tax and 1.5% Stamp Tax. and usually another 20k in fees.

are you by any chance in davao?

@Jarvin11  In New Baatan and my girl just payed the 3%. Coudn't convince her to look someone in Tagum/Davao which is not disgustingly overpriced.

At least we lowered the official payed price by 50% so the 3% turned into effective 1.5% but it shouldn' be this way.

    All i find online that it should be 1-2%.
But here in Mindanao this greedy vulture asked for 5% and acting like he is jesus himself when lowering it to 3%.
   

    -@Lothar Scholz

"How much is the notarial fee in the Philippines?

Notaries usually charge a fee of one percent to 1.5 percent of the property's selling price for a Deed of Absolute Sale. Supposing the value of the property is P1,000,000, one percent of that amount is P10,000."

What am I missing here?

Is it the duty of the notary to verify signatures signed in front of him/her as the actual person?

The last time I used a notary while living in the states was a flat $5.

I can't remember what for but it did not regard real estate.

Agree Bob, think I missed the boat also.

Firstly to have documents notarized in Australia is a free service accomplished by a Justice of the peace or a solicitor, doctor and the list goes on, here everyone's hand is out, taking the piss instead of a civil service.

We purchased property, a long term lease here and the attorney charged P20K for the service including titles/lease all notarized, releasing the deposit so the ex owner could pay 7 years of outstanding municipal fees, making sure the ex owner paid his taxes/dues and plenty of other things, never was there a mention of a notarial fee, nothing extra asked, the fee was agreed in the office of the real estate agent and the deal was done.

I can't follow what a notary fee is as per the OP's thread. we get doc's notarized frequently over the years as detailed in another thread and if its one or 10 doc's it's P500.

Long story short a P5.75M property and a 25 + 25 year lease all up including notarization was P20K or around .3.5% of the purchase price,,,,, that's point three and a half percent, not 1.5 nor 3% of the purchase price.

Some people take the piss. Some are gullible while most do their homework.

OMO

Cheers, Steve.

    What am I missing here?Is it the duty of the notary to verify signatures signed in front of him/her as the actual person?The last time I used a notary while living in the states was a flat $5.I can't remember what for but it did not regard real estate.         -@Enzyte Bob

Notaries here must be licensed attornies and are appointed by the Supreme Court. This gives them the excuse to charge a professional fee. They must verify signatures but are also somewhat liable for the legality of the document itself. So, the position here is greatly elevated above that in the US where any secretary with just a high school diploma at a used car dealership can be a notary. It is probably a good idea that another lawyer reviews and takes some responsibility for the document however I may be assuming too much here.

Not sure about that danfinn, I/we have had documents notarized on the curbside in Tondo Manila and doubt very much the qualifications but worked.

An attorney dealing with legal matters does it all and part of the fee.

As said the Op should perhaps elaborate the meaning/breakdown of the costs being charged.

OMO.

Cheers, Steve.

Yes we paid 20k for 5M property. It was a fixed amount, so 0.4%.

In France they don't take much more than this, about 0.8% above 60K€ but they have an important duty, verifying the property, like encumbrance, the owner or heirs, if heirs, verify they all agree etc etc... He d be liable if there are any problem occurring with the sale later on. He s also the one to pay for taxes and make all the declarations and official changes.

In Philippines they check identities, signatures and good luck.

I could produce cites that all legit notaries here are supreme court appointees, however I decline. Too much hassle lol.

Probably true Dan but I simply wonder those notaries in Tondo operating on tables on the edge of the footpath and we stood in the gutter to get doc's stamped, as said it worked legit or not but was pretty seedy.

From memory only P50 per doc but that was 12 years ago and Tondo.

Cheers, Steve.

    Probably true Dan but I simply wonder those notaries in Tondo operating on tables on the edge of the footpath and we stood in the gutter to get doc's stamped, as said it worked legit or not but was pretty seedy.
From memory only P50 per doc but that was 12 years ago and Tondo.
Cheers, Steve.
   

    -@bigpearl

Not sure what Tondo is, living in the provinces, but the issue is moot given I am too lazy to dig up cites that prove I am correct. I don't care lol.

I already said you are probably correct Dan as the doc's notarized in Tondo (a rather poor area with lots of crime and bribes) were not a problem, just their methods and operating procedures, Tondo was where Ben paid P500 to get his drivers license though never driven a car in his life back then.

I think we have drifted from the OP's topic which is not quite clear, to me purchasing a property using an attorney is a package deal where as getting doc's notarized for other legal requirements is different.

As said the purchase of this property including the lease was .35% of the purchase price.

That was 7 years ago but wasn't 1.5 or 3%.

Cheers, Steve.