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Purchasing a farm / agricultural land isn't as straight-forward as it seem.
It can turn out as a golden investment or your worst nightmre. The difference may lie in how knowledgeable you are with some basic information.
We advise you to browse over the existing laws governing purchase of agricultural land such as the CARP, CARPER Laws and DAR Orders.
- There is an existing maximum 5 hectare retention limit
- CLOA properties need to be beyond the 10 year holding period before it can be sold
- A DAR clearance is required before an agricultural land can be transferred
- Forrest Land, Timber Land, Watershed, River easements and the like cannot be sold / purchased
- Know existing LGU ordinance, if any pertaining to the specific agricultural project you want to put up
- Does the property have a Tenant?
- Agree with the seller to have a Contract to Sell document
Before buying, ensure the there is Proof of Ownership from the Seller. If needed, request for assistance from an expert when doing due dilligence with the property document
Things to look for in a property:
1. Accessibility
2. Water Source
3. Topography
4. Soil & Climate
5. Proximity to Resources & Market
6. Community (Labor Force, Peace & Order)
When in doubt always consult an expert!
Happy Hunting!
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