BPI Buena Mano Super Value Yellow Tag Foreclosed Properties for Sale Q4-2008

I have here a copy of the BPI’s Buena Mano Super Value Yellow Tag listing of foreclosed properties for sale, which includes properties from Metro Manila. This listing also includes Buena Mano Prime properties which are priced above 10 million pesos. Super Value properties are those priced below 10 million Pesos. BPI provides these foreclosure listings free for all interested parties and are available in all of their branches.

Based on the listing, yellow tag properties are real estate properties with any of the following special concerns:

-Properties whose titles may still be in the process of transfer to the name of the bank which foreclosed the properties

-Properties that are still being occupied by former owners, tenants or illegal occupants,

-Properties whose property documents still need to be updated

Unlike the red tag properties where former owners are still trying to stop the foreclosure of their properties, yellow tag properties just need more time for the bank to finish the title transfer and updating of other documents, though some properties might still be occupied. Yellow tag properties also have asking prices on the list while red tag properties do not and you have to call the bank to know these.

Because of such “special concerns”, the bank will allow big discounts off the selling price of these properties giving beginning real estate investors better opportunities to start investing in foreclosures. All prices are negotiable and can provide real estate investors a bargain real estate investment property. The buyer should however be aware of the consequences like the long time it could take to eject illegal occupants of a property. Please take note that BPI offers financing through mortgage loans.

You may download BPI’s Buena Mano Super Value Yellow Tag listing for Q4-2008 here.

2009 Listings to follow once I get a copy. Don’t forget to subscribe to my mailing list so you won’t miss it and other updates. If your mailbox is getting full, you may also subscribe via RSS reader.

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Tagged as: Acquired assets, BPI, Buena Mano, Foreclosed properties, Yellow Tag

eva
this is a great website. will sure to visit this again.
Jay Castillo
Thanks a lot Eva, you have a great site as well. Thanks for visiting!
. : DRAGORO : .
Hi Jay, Is it safe to say that as a rule, one shouldn’t get deals where stubborn illegal tenants are involved?
Jay Castillo
Hi Dragoro, yes, it should be avoided at least when you are just beginning to invest in real estate. Having a property with such a problem as you first deal would not be good as it could drain your resources and energy. All of my mentors have given me this sound advice which I follow as well.
Catherine
Excellent site! Nice advice!
Geheris
Great blog! Very good advice!
Jay Castillo
Hi Catherine, thanks for visiting. you also have an excellent site, thanks!
Jay Castillo
Thank you Geheris for visiting, I also visited your blog, excellent site!
Anonymous
hi! should it be the responsibility of the bank to move out the tenants?
Jay Castillo
Hello Anonymous, for the yellow tag listing, ejection of tenants would be the responsibility of the buyer. Take note that the bank is still pursuing the ejectment but once this has been done, the property would most probably become part of the Green Tag listing and the selling price would go up since the bank would also want to recover their expenses for the ejectment, etc.
Anonymous
Can anyone help me find bank foreclosed vehicles please ? Thanks
http://www.foreclosurephilippines.com/2009/03/31-questions-you-need-to-ask-when.html 31 Questions you need to ask when inquiring about a foreclosed property | Foreclosure Philippines
[...] the bank is most probably still in the process of consolidating the title(examples: Buena Mano Yellow Tag and Red Tag [...]