Do you want to sell property in Palawan? This island is famous not only for tourists but also for people looking for a new home on a tropical island. Selling property in Palawan is easy if you work with the right people. This guide explains how to sell your house or land in Palawan, whether in Puerto Princesa, El Nido, Coron, or any other place and city in the Philippines.
How to sell property in Palawan, the Philippines?
Palawan has many famous places and cities where people want to buy property. Puerto Princesa, El Nido, Coron, San Vicente, Port Barton, Balabac, and Busuanga are the most popular areas. The steps below explain how to sell your land or villa in Palawan.
Step 1: Hire a local real estate agent in Palawan
Even though you can sell real estate in Palawan yourself, working with a real estate agent offers many benefits. Reputable real estate agents in Palawan understand the market, know how to negotiate the best deal, can handle all the paperwork, and will always work in your favor. Even though you must pay a brokerage fee, selling your Palawan property with a real estate agent can earn you more money.
There are several real estate agents in Palawan, most of them located in Puerto Princesa and El Nido. Own Property Abroad works with a reputable agency active throughout Palawan. For assistance, contact us at [email protected] or leave your details below.
Contact our agent to sell your property in Palawan
Step 2: Issue an Authority to Sell
The next step when selling property in Palawan is issuing an Authority to Sell to the real estate agent you work with. An Authority to Sell is a legal document that authorizes the agent to offer and sell property in Palawan on your behalf. It also specifies essential terms such as the brokerage fees and duration of the agreement, which is crucial for a seamless property sale.
Step 3: Offer your property in Palawan for sale
Once the real estate agent has checked your property, taken pictures, and calculated the market value, it’s time to list it and find possible buyers. Many local and foreign people are looking for property for sale in Palawan, from the bustling Puerto Princesa to the tropical El Nido. Your agent can use marketing strategies to offer your house to as many people as possible.
Step 4: Property viewings
In the best case, several potential buyers reply to your property advertisement; whereafter, the real estate agent will coordinate the house viewings. These viewings will allow potential buyers to visit and see your house or lot with their own eyes. It’s essential to showcase your home as best as possible, which the real estate agent will help you with.
Step 5: Consider offers from potential buyers
Potential buyers interested in your Palawan property will make an offer through your agent. It’s important to consider all offers and take some time to think about them. Once you accept the offer, it’s time to start the paperwork process. Here, too, will the real estate agent help you through the process.
Step 6: Sign the Deed of Sale
The next step is to sign the Deed of Sale, a legal document that transfers ownership from the seller to the buyer. This process is typically done in the presence of a lawyer or notary. You can choose a notary in Palawan or let the real estate agent choose one.
Step 7: Transfer of the land title
The final step in selling your property in Palawan involves transferring the land title. The transfer ensures that the buyer becomes the legal owner of their new house in Palawan. You might have to pay Capital Gains Tax, Documentary Stamp Tax, and transfer fees as a seller. Your real estate agent can help and tell you which taxes you must pay.
Sell property in Palawan with Own Property Abroad
Selling a house or land in Palawan, the Philippines, can be complex when performed alone. However, you don’t have to do it all alone. Own Property Abroad works with a reliable real estate broker in Palawan who can assist you with the sale of your real estate property, whether located in Puerto Princesa, El Nido, Coron, San Vicente, Port Barton, Balabac, Busuanga, or any other location.
If you need further assistance selling your property in Palawan, please provide your details below or email us at [email protected]. Our real estate agent will contact you as soon as possible.
Contact our agent to sell your property in Palawan
Frequently Asked Questions (FAQs)
Is Palawan a good investment?
Palawan is considered a good location for property investment. The island is known for its stunning natural beauty, crystal-clear waters, and diverse wildlife, which make it a popular destination for tourists and expats. This offers property owners several opportunities to generate rental income or property appreciation.
Which is the best part of Palawan to invest in property?
Puerto Princesa and El Nido are considered the best places in Palawan to invest in property. Coron, San Vicente, Port Barton, Balabac, and Busuanga are also popular destinations for property purchases.
Can foreigners buy land in Palawan?
Foreigners are not allowed to directly own land in Palawan, the Philippines, due to restrictions outlined in the Philippine Constitution. However, there are several legal ways for foreigners to invest in property: through a long-term lease agreement (up to 50 years, renewable for another 25 years), by owning a condominium unit (as long as foreign ownership does not exceed 40% of the condominium corporation), or by forming a corporation with Filipino citizens where foreigners can hold up to 40% of the shares.
How can foreigners sell their villa in Palawan?
Foreigners can sell their villa in Palawan by engaging a reputable real estate agent or broker with experience dealing with foreign-owned properties. The agent can assist in marketing the property, finding potential buyers, and navigating the legal and tax implications of the sale. Consulting with a lawyer specializing in Philippine real estate law can help ensure that the sale complies with local regulations and that the transaction proceeds smoothly.
