Expat Community > Philippines

TonyPhil
Joined 2019
Posts: 25

buying a house

4 years ago

Greetings,

My wife and I have found a decent house to buy in the Philippines. I have the money in the states, so how to get the money here? I ran into road blocks with Transferwise as my banks back home don't support it. My brother is on one account of mine, I thought what I'd do is have him wire $10,000 at a time until we get the full amount here. It'd be wired to my wife's bank account in PNB. My concern is would the money be safe in her bank? Is it smart to withdraw the cash in $10,000 chunks and hold on to it until the sale? Or wait until the full amount has been transferred and write a check at the time of sale? Hopefully the money wouldn't be there long, maybe a week or two. I appreciate your feedback.

A doctor is selling the house, he has homes elsewhere including Manila which is where he lives I think. The house is very nice, asking price $60,000. Very affordable to me.

TonyPhil

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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Expat Community > Philippines

buying a house

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