Friday, October 8, 2021

Real Estate Documentation Process in times of New Normal

It has been 19 months since the shutdown of our economy with almost 3 million Filipinos were infected with almost 2.5 million recovered while almost 39,000 were casualties as of this writing. The Philippine economy is still sluggish and slightly opening up the market but slowly recovering. The market is experiencing resistance from external forces such as world economic downturns from the pandemic, demand for oil for production by China and many others. Recently, Chinese economy was affected with the collapse of Evergrande. This incident does not affect the Philippine market as Evergrande it has no links or affiliates in Philippine real estate.  
Buying Real Estate Amidst COVID-19 Pandemic in the Philippines has been in demand with majority of Filipinos who were slightly or not affected with the pandemic are taking advantage with available opportunities in this sector. With the majority of the markets are selling or disposing off their properties. Reason for the selling of the property may vary but most owners or seller, real estate brokers and agents will say that they (owners /sellers) just need funds for possible emergency purposes. Real estate ownership is see a personal fulfillment with possibly building a homestead or possibly to sell off in a buy, hold and later sell.
Real estate is an not a liquid asset and it is hard to sell it off unlike stocks, bond and cryptocurrency which are easy to exchange into cash. Changes and adjustments have happened for the past few months with slow movements in the documentation process with number of factors happening particularly with the infection rate of COVID 19 Delta variant which are listed below:  
1. Office operations have become limited;
2. Working from home or in skeletal workforce and with sudden temporary closure of offices because of infection from an employee/s or because of granular lockdowns imposed by Inter-Agency Task Force against Emerging Infections (IATF);
3. With lesser work force, staff on offices have delayed operations attributed to this pandemic.
Nowadays, people should learn to adapt with this "new normal" amidst this crisis and make eventual adjustments particularly in dealing with government offices. In our experience as real estate documentation professional we recommend that at least three (3) months to fulfill the processing of such documents from Transfer of ownership, availment of tax amnesty of Extrajudicial settlement of estates and others. 
It is very hard to give a client a 100% satisfaction at this trying times and we made that there is little or preferably NO RED TAPE among the government offices involved in processing one's real estate documents.  
To our possible and valued clients, please bear with us the current situation of this new normal that we value our safety and yours as well in giving you an excellent and professional real estate services in return.

About the Writer

 CRB Benedict Baluyut is a professional real estate broker, real estate appraiser and associate of C. F. Baluyut Realty. He is currently the Vice President for External Affairs, Real Estate Brokers Association of the Philippines, Inc. (REBAP) - Pampanga Chapter. You can get in touch with him at


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