Lately, properties in Cagayan de Oro are being eyed by both real estate investors and families looking for a new place to live. It is for this reason that the real estate companies in the city became quite busy continuing to turn empty lots into saleable, quality properties.
Let us take Ventura Residences for example which is one of the recently developed residential subdivisions located inside another popular subdivision called Xavier Estates. Both of these subdivisions, by the way, were developed and completed by us at A Brown Company. All houses built by the end of 2012 were all fully sold, which encouraged the continuous construction of more houses in the subdivision.
The properties in Ventura Residences might have been sold out quite quickly because of its value- for-money. It can also be because of its safe and flood-free location inside Xavier Estates, which is already a well-established residential subdivision.
However, whatever reason it may be, it confirms the potential popularity Cagayan de Oro has when it comes to having great properties people want to invest in. When you also want to buy property in this city, here are some tips that can help you along the way:
- Check the authenticity of the Transfer Certificate of Title. This is something you have to remember, especially if you are buying from individual sellers. The easiest way to do this is to visit the local Register of Deeds, which is often located in the City Hall. Before you head down there though, get a photocopy of the title from the seller, which contains the name of the owner and title number. This is the information you will need when asking for a Certified True Copy from the Register of Deeds, which can confirm how authentic the Transfer Certificate of Title is.
- Talk to reputable real estate developers. These are the people you can trust when it comes to purchasing great properties. The basic “criteria” for reputable real estate developers are ones who have a track record of completed developments. The more completed developments they have the better. However, do not just stop at the number. It will be even better if you have time to check out these developments yourself, so you can have an idea on what kind of work they do and if it suits your style.
- Try to go for mainstream architectural styles. This means that you have to look for properties or houses that more or less look modern and similar to other houses in the area. Houses of this style are often easier to resell than the ones that look too traditional, dramatic and highly personalized.
- Verify how “clean” the title is. When buying property it is of utmost importance to find one with a “clean” title, meaning one without any mortgages, liens or encumbrances. This can easily be checked by looking through the “Encumbrances” page of the property’s title, which should be blank if it is indeed clean. Take note though that sometimes the property’s technical description, which is found on the front page, is often continued on the Encumbrances page. However, if that is all you find on the Encumbrances page, then the property is still considered clean.
Remember these tips and do not hesitate to look for more when buying a property in Cagayan de Oro. There is always a good one out there just waiting for you, just do not get carried away with the property investing hype!