BE A WISE REAL ESTATE INVESTOR
Home » Foreclosed Properties » BPI Buena Mano Super Value Red Tag Properties for Sale Q4-2008

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

I got a copy of BPI’s Buena Mano Super Value Red Tag listing of properties for sale last Friday when I saw a BPI branch in the Atrium in Makati, after I paid the monthly amortization of my Pag-Ibig home mortgage loan. This bank foreclosed property listing is for Metro Manila.

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

-Properties that have pending court cases contesting the foreclosure procedure of the bank

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

-Properties whose property documents still need to be updated

Based on the descriptions above, one can assume that for some properties at least, the former owners are still trying to exhaust all means to stop the foreclosure of their property and they are holding out as long as they can. You can’t blame them really. I guess these are examples of real estate loans gone bad. If I had the resources, I would try to help people before they get into a foreclosure situation in the first place.

Now why would anyone in their right mind buy a property with such “special concerns”? Well, the bank will allow big discounts on the selling price of these properties giving buyers better opportunities to buy properties for their own use or for investment. 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 have the case resolved and for the bank to take possession of the property.

You may download BPI’s Buena Mano Super Value Red Tag listing for Q4-2008 here. Sorry for the big file, I already tried my best to create the smallest PDF file and I even zipped it to reduce the file size further.

I suggest that first time investors stay away from these types of properties unless they have the resources and patience to deal with such. BPI has other listings which can be great sources of real estate investments with less complications. I will also post them here so don’t forget to subscribe to my mailing list so you won’t miss them. If your mailbox is getting full, you may also subscribe via RSS reader.

Photo of author
About Jay Castillo
People encounter problems and make mistakes when buying foreclosed properties, and Jay wants to help people avoid those problems/ mistakes. Jay encountered a lot of those, which is why he started this blog in 2008 to serve as a guide where he shares lessons learned, and how to overcome challenges you may encounter when investing foreclosed properties in the Philippines … [Read more]
FREE CHECKLIST: IDENTIFY AND AVOID PROBLEMATIC FORECLOSED PROPERTIES BY DOING PROPER DUE DILIGENCE!
Avoid losing money, wasted time and effort caused by buying foreclosed properties that have too many problems, with our free 60-item Property Due Diligence Checklist. Grab your free copy now.

Leave a Comment

2 thoughts on “BPI Buena Mano Super Value Red Tag Properties for Sale Q4-2008”

Share

Did you miss buying a foreclosed property because it was too late when you saw the listing/ auction schedule?

Here's the solution...

DON'T BE THE LAST TO KNOW!

GET UPDATES FOR FORECLOSED PROPERTIES VIA EMAIL

Join over 100,000 smart real estate investors who receive

updated foreclosed property listings, auction schedules,

and real estate investing tips via email, it's free!

No thanks / Already subscribed
x
We take privacy seriously and we'll never spam you.
Please refer to our Privacy Policy

X
I'm looking for foreclosed properties in...


Looking for an article?
Click here to search the blog
Share