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Live in the Philippines Forum » Living in the Philippines

Buying foreclosed Property

(4 posts)
  • Started 1 month ago by richard90027
  • Latest reply from bangkaboat

  1. richard90027
    Member

    We are considering buying property or even a house in the PI but I have heard so many horror stories about Titles and Tax debts on the properties and the risk of buying. I was thinking that maybe buying a foreclosed property from a bank or bank auction may be a good way to go. Seems like the bank would have a clear title.
    Anyone have any experience or ideas with this?

    Posted 1 month ago #

  2. AlexB
    Member

    Here's a link that might help:
    http://www.docstoc.com/docs/7697053/Tips-Before-Buying-Real-Estate-in-the-Philippines

    As for foreclosed properties, I'm looking at possibilities as well.

    Posted 2 weeks ago #

  3. richard90027
    Member

    Thanks, here is another great Link

    http://www.globalpropertyguide.com/Asia/Philippines/Buying-Guide

    Posted 2 weeks ago #

  4. bangkaboat
    Member

    Things may have changed, but the best place to buy leveraged properties used to be pawnshops! No kidding, many borrow from the pawnshops, using their properties for collateral.

    My #1 rule when buying properties in the Philippines is to ensure that one is dealing with the actual title holder. This can be more challenging than it seems, but will save one having to "buy out other interests", not an uncommon situation. Best of luck!
    Mike

    Posted 1 week ago #

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