Finance > Real EstateTop 3 Ways to Buy a Used Foreclosed Home for Sale in Philippines
Posted by housal in Finance on March 6th, 2018
Moving to Baguio City? There are many different properties available for sale, including house and lots—and among them are foreclosed homes. Buying a foreclosed house and lot for sale in Baguio City can be a good option whether you are a first-time buyer or looking for a new home, as the bank may be willing to provide a lower price to sell a property faster. Like buying a regular home, you are allowed to use mortgage financing too, and it is possible for the monthly repayments to be lower. But while a foreclosed house and lot might be an attractive deal, there are things you need to know before proceeding with the transaction. Take note of these tips:
1. Find the right sources – Foreclosures are typically up for sale at lending institutions, banks, SPAV companies (companies that help banks eliminate nonperforming assets), and government financial institutions, such as National Housing Authority (NHA), Home Development Mutual Fund or Pag-IBIG Fund, and Social Security System (SSS). Some banks and financial institutions have a list of accredited brokerages and brokers, too, or you can go online to find foreclosures through reputable and established real estate portals in the Philippines.
2. Attend auctions – Find property auctions that are organized by real estate brokerage companies and banks. This way, you can have access to foreclosed homes for sale that is not listed on most property websites. This is a chance to speak to a professional real estate broker for advice and discuss your purchase, too.
3. Find an accredited broker or a bank – Every used foreclosed home for sale in the Philippines is sold on an ‘as-is, where-is’ basis. So, it is advisable to make an informed buying decision with due diligence. However, this could be difficult if you are choosing from multiple properties, which you should inspect one by one to verify that their titles and documents are legitimate.
Working with an accredited broker or a reputable bank could reduce your risk of buying a problematic and low-quality property. If choosing a brokerage firm, make sure it specializes in real estate and that it is an established and reputable business that is based in the Philippines.
About the Author:
This article is written by Kimberly Khia, working as an Executive Assistant at Housal Inc. Housal Inc. is a real estate brokerage firm based in West Bonifacio Global City, Taguig, Philippines. They offer brokerage services to investors, property owners, and even landlords who are willing to invest in the real estate sector in the Philippines. They are in partnership with some of the best real estate developers in the Philippines like Century Properties Group, Megaworld, Rockwell Land, Ayala Land, Ayala Land Premier, Robinsons Land, Federal Land, Avida Land, Alveo Land and DMCI.
Home > Home RepairHire Best Hvac Contractor In Reno And Get Home Heating Repair Reno
Posted by matthewdavis9179 in Home on April 24th, 2015
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