Selling Property in the Philippines. Need some advice

Not expert but we did buy some property from a Canadian. The whole thing was done with a broker. Money was wired to broker in PH for his commission and fees and money was wired to Canada for the seller. Personally, I wouldn't take a deposit for that long a time frame (assuming there was a legal agreement) it would tie up your land, and value may well go up in a year. As far as banks, you have to live in PH to open an account there as far as I know. What I would do is have an agent/broker handle the selling of your property, assuming you have a free and clear title for it

Hi All,
Hope i can get some help here.  I have a buyer of my parents property in the Philippines.  I am in Canada.  The buyer has asked if he can put a deposit down of 10%, and pay the rest within a years time, once his other property sells.  Just wondering if this is normal? 

Also he said he will transfer the 10% to a bank in the phiippines.  I just need to make one.  I was wondering is this safe, or if i should handle this a different way.  I have no experience dealing with banks over there. 
Any advice would be great
-@Bella79

We originally paid for our lot while visiting here with a down payment to get.a conditional deed of sale. Then they agreed we make 3 equal monthly.payments to complete the sale by bank transfer from the USA. When comoleted, the conditional deed of sale turned into a deed of sale and from that we eventually received title.

Hi All,
Hope i can get some help here.  I have a buyer of my parents property in the Philippines.  I am in Canada.  The buyer has asked if he can put a deposit down of 10%, and pay the rest within a years time, once his other property sells.  Just wondering if this is normal? 

Also he said he will transfer the 10% to a bank in the phiippines.  I just need to make one.  I was wondering is this safe, or if i should handle this a different way.  I have no experience dealing with banks over there. 
Any advice would be great
-@Bella79

You need to put together a simple sale of purchase agreement with a Filipino lawyer stating that the agreement is time dependent on the balance being paid within 12 months or the buyer forfeits their deposit.

Hi All,
Hope i can get some help here. I have a buyer of my parents property in the Philippines. I am in Canada. The buyer has asked if he can put a deposit down of 10%, and pay the rest within a years time, once his other property sells. Just wondering if this is normal?

Also he said he will transfer the 10% to a bank in the phiippines. I just need to make one. I was wondering is this safe, or if i should handle this a different way. I have no experience dealing with banks over there.
Any advice would be great
-@Bella79

You need to put together a simple sale of purchase agreement with a Filipino lawyer stating that the agreement is time dependent on the balance being paid within 12 months or the buyer forfeits their deposit.
-@Lotus Eater

Forfiets deposits plus all payments made before default.