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?
Live in the Philippines Forum » Living in the Philippines
Buying foreclosed Property
(4 posts)-
Posted 1 month ago #
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Here's a link that might help:
http://www.docstoc.com/docs/7697053/Tips-Before-Buying-Real-Estate-in-the-PhilippinesAs for foreclosed properties, I'm looking at possibilities as well.
Posted 2 weeks ago # -
Thanks, here is another great Link
http://www.globalpropertyguide.com/Asia/Philippines/Buying-Guide
Posted 2 weeks ago # -
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!
MikePosted 1 week ago #
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