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OUR SERVICES |
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SALE
PURCHASES
EXCHANGE
MORTGAGE
LEASE
JOINT VENTURE AND
OTHER TRANSACTIONS IN REAL ESTATE
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OATH OF COMMITMENT
I
SARAH P. ESTRADA
having been issued a real estate broker's license to engage in the realty service practice, do solemnly swear:
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to uphold inviolate the Consitutuion and Laws of the Philippines;
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to uphold and comply with the provisions of Ministry Order No. 39-85 of the Department of Trade and Industry as amended, and to respect and compel strict adherence to the standards of practice and code of ethics of the realty service profession;
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to exercise the realty service profession with fidelity, integrity and to the best of my ability; and
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to place the welfare of my country, the fundamental rights of my fellow citizens and the best interest of my clients over and above my personal interest and expediency.
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IMPORTANT INFORMATIONS TO READ
- A commission of a broker should not be more than 5%. No sale agent will be issued a license without a broker who acts as an employer. Thus, brokers are liable for the acts of their sales agents.
- No broker or sales agent shall engage in the business of selling subdivision lots or condominium units without securing a certificate of registration from HLURB (Housing and Land Use Regulatory Board).
- Certificate of Registration and License to Sell issued by HLURB shall be displayed in a conspicious place in the office of the owner, dealer, broker or sales agent.
- The broker or sales agent who negotiated the sale of a subdivision lot or condominium unit shall act as one of the witnesses to the sales document with an indication of his Certificate of Registration number and renewal date.
- To help fight the illegal practices in realty service and help protect the public from dishonest and incompetent sales agents, brokers, appraisers and consultants, always ask for an identification (ID) duly issued by DTI (the agency mandated to regulate the brokerage business) before engaging the service of a broker/agent.
- Always ask for an Official Receipt in exchange of the commission you (buyers and individual sellers only) pay to your broker/agent.
TIPS FOR FOREIGNERS BEFORE ENGAGING INTO A JOINT VENTURE
EXECUTIVE ORDER NO. 226
THE OMNIBUS INVESTMENTS CODE OF 1987
CHAPTER III — LICENSE TO DO BUSINESS
ARTICLE 48. Authority to Do Business. — No alien, and no firm association, partnership, corporation or any other form of business organization formed, organized, chartered or existing under any laws other than those of the Philippines, or which is not a Philippine national, or more than forty per cent (40%) of the outstanding capital of which is owned or controlled by aliens shall do business or engage in any economic activity in the Philippines or be registered, licensed, or permitted by the Securities and Exchange Commission or by any other bureau, office, agency, political subdivision or instrumentality of the government, to do business, or engage in any economic activity in the Philippines without first securing a written certificate from the Board of Investments to the effect:
(1) That the operation or activity of such alien, firm, association, partnership, corporation or other form of business organization, is not inconsistent with the Investment Priorities Plan;
(2) That such business or economic activity will contribute to the sound and balanced development of the national economy on a self-sustaining basis;
(3) That such business or economic activity by the applicant would not conflict with the Constitution or laws of the Philippines;
(4) That the field of business or economic activity is not one that is being adequately exploited by Philippine nationals; and
(5) That the entry of applicant therein will not pose a clear and present danger of promoting monopolies or combinations in restraint of trade.
http://www.boi.gov.ph/pls/portal/docs/PAGE/BOIINDEXPAGE/INVESTMENT%20LAWS%20AND%
20POLICIES/INVESTMENT%20LAWS/E.O.%20226/EXECUTIVE%20ORDER%20NO.%20226.PDF |
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