- The title of the property may still be in the process of transfer to the name of the bank which foreclosed the property
- The title of the property is already under the name of the bank but the property is still occupied by the former owner, tenant, or illegal occupant
- There are property documents that stll need to be updated
On the other hand, if the title of a property is still in the process of transfer to the name of the bank, I believe that it is really only a matter of time and the title will eventually be consolidated and transferred to the name of the bank. It may take some time but the discount on the selling price may make it worth the wait.
Don’t forget that all prices are negotiable and this also applies to the Green Tag properties. So if you think that BPI foreclosed properties are expensive, why not try to submit an offer first before giving up. Who knows, your offer just might get accepted but you will never know that unless you try right?
To our financial freedom!
Text by Jay Castillo. Copyright © 2009 All rights reserved.