Advice needed on Sale of Property

I'm going to say my thoughts,  with no experience on the subject. But my response is from thinking about your exact wording.

Say what? I am wondering if this is a US attorney or a Philippines attorney for one thing.

1. Is the real question getting your hands on the money? Or is it making sure your buyer pays?

2. What lawyer would ever suggest using them will reduce your capital gains? By taking a major cut? Or by just embezzling it?

3. How do we get real estate money in the states? It's escrowed. You give title (or bank does) and escrow officer gives you check.

So now, are you trying to reduce tax or get paid? That's the real question.

Reducing property sales tax is practiced here but illegal. People selling property often reduce (officially in their favour) the sale price of the property, 2 sets of paperwork (like a fixer, stay away) as for giving power of attorney to your mouth piece and only my opinion,,,,, don't go there, the sale can be accomplished from a different country, been there and that's why God created the internet.

As Larry mentioned in #2, that's fraud and if you put them in control you will lose, stay in control. Don't ask the purchaser to pay your CGT as that is also illegal though many here try, make sure you have clean title and Municipal and Barangay fees are up to date, has the property been surveyed correctly as you don't want to be selling what is not yours.

Taxes? 3 things in life are sure, birth, taxes and death.

Hope you find your answers, google can be your best friend and BTW welcome to the forum.

Cheers, Steve.

If you are are talking about a Filipino attorney then if that is what you decide to to (give a Filipino  attorney power of attorney over your property) then you can probably say goodbye to whatever monies are realized from the sale of your property unless he's your brother........ even then....... who knows.

Walk softly but always carry a big stick.

Reverse situation we purchased a property here and the reputable agent (no problems with them) recommended an attorney for us to complete the sale legally, we paid the quoted price up front to secure and half way through the process the attorney disappeared, Manila I believe.

Fortunately for us the agent as he recommended that mouth piece engaged and paid the costs to complete the sale and legals out of his own pocket, no more fees to us. We were offered bribes and fixers to expediate the sale and we said no, do it by the legal book, that's why it took 3 more years to finalize.

I'm sure the agent was well out of pocket as the brief to the agent and original mouth piece was to have the land encumbered with my 25 + 25 year lease,,,,,, we received the title and no lease, they did it again and 3 years later received the new encumbered title,,,,,, lots of frustration but no costs to us.

Be very very wary here when it comes to legal eagles especially if they look for power of attorney and their ineptitude and ability to fleece to, that's their focus.

OMO.

Cheers, Steve.

@bigpearl Walk softly but always carry a big stick. Haha i like that one..and how true it is..

I'm going to say my thoughts, with no experience on the subject. But my response is from thinking about your exact wording.
Say what? I am wondering if this is a US attorney or a Philippines attorney for one thing.

1. Is the real question getting your hands on the money? Or is it making sure your buyer pays?

2. What lawyer would ever suggest using them will reduce your capital gains? By taking a major cut? Or by just embezzling it?

3. How do we get real estate money in the states? It's escrowed. You give title (or bank does) and escrow officer gives you check.

So now, are you trying to reduce tax or get paid? That's the real question.
-@Larry Fisher

The Lawyer is from the Philippines.   He said that after the fees are taken from the sale it will lower our cap gains, instead of just getting paid.    Just wanted to get people's advice here, since it's been 3 years of jumping through hoops to get to this point.  Frustrating to say the least.

We'll start researching Escrows, Thank you so much!

@bigpearl Thanks for the advice!   Really love this forum.   It's so hard to get objective advice.  3 years and we're finally at the point of actually selling, don't want to screw it up at the finish line

@bigpearl Walk softly but always carry a big stick. Haha i like that one..and how true it is..
-@Ivo sonnenberg

Variation of Teddy Roosevelt's  "Talk softly, but carry a big stick, you will go far."

I'm going to say my thoughts, with no experience on the subject. But my response is from thinking about your exact wording.
Say what? I am wondering if this is a US attorney or a Philippines attorney for one thing.

1. Is the real question getting your hands on the money? Or is it making sure your buyer pays?

2. What lawyer would ever suggest using them will reduce your capital gains? By taking a major cut? Or by just embezzling it?

3. How do we get real estate money in the states? It's escrowed. You give title (or bank does) and escrow officer gives you check.

So now, are you trying to reduce tax or get paid? That's the real question.
-@Larry Fisher

The Lawyer is from the Philippines.  He said that after the fees are taken from the sale it will lower our cap gains, instead of just getting paid.  Just wanted to get people's advice here, since it's been 3 years of jumping through hoops to get to this point. Frustrating to say the least.

We'll start researching Escrows, Thank you so much!
-@Bella79

I could be wrong, but that just sounds like a setup to me. Best wishes you get it all worked out.