The first Buena Mano catalog for 2013 is here! The Buena Mano Q1-2013 Greater Metro Manila area catalog is now ready for download. I can’t help but notice the glossy cover, reminds me of the Panorama Magazine that comes with the Sunday edition of Manila Bulletin. Check out the catalog and details below.
Location of acquired assets
The Q1-2013 Greater Metro Manila catalog includes bank-acquired assets from the following areas:
- Las Pinas
- Quezon City
- San Juan
Property Classifications included in this catalog
Green Tag – Green tag properties are properties with Titles and Tax declarations that are duly consolidated. In other words, ownership has already been transferred to the bank that foreclosed them, and you can confirm this on the Titles/Tax Declarations. Furthermore, the bank holds possession of the properties. This means they are not occupied by any illegal occupants. These foreclosed properties can be inspected anytime if they have caretakers. If a foreclosed property is a condo, you will have to coordinate with us to get the keys.
Yellow Tag – Yellow Tag properties are properties with special concerns which may include:
- The Titles/Tax declarations have not yet been consolidated are in the process of being transferred to the name of the bank that foreclosed the property.
- The property is occupied by the former owner, tenants, or illegal occupants.
- There are property documents that need to be updated (ex. the title has a technical description error that needs to be corrected, etc)
Properties can be purchased with the following payment modes:
- Bank financing (through a housing loan)
- Through BPI, BPI Family Savings Bank or any major domestic bank
- Terms are subject to separate credit approval by the lending bank
Frequently asked questions and answers
1. Can I make an offer below the asking price?
Yes you may, but the First Come, First Served policy of the bank will not apply to your offer. In other words, other offers that are equal to or higher than the asking price will be attended to first, even if you submitted your offer earlier.
2. Will a cash offer get a better chance of being approved?
Regardless of whether an offer is for cash or bank financing, the First Come, First Served policy will be observed and offers are attended to in the order they are received without biases and preferences.
3. What is the FIRST-COME, FIRST-SERVED POLICY?
First come, first served is the service policy of the bank whereby the offers to purchase are attended to in the order they are received without biases and preferences. This policy shall apply only to offers which are equal to or higher than the bank’s asking price.
4. Are buyers required to pay a reservation fee when submitting an offer?
No, prospective buyers are not required to pay any reservation fee when submitting an offer to purchase. A buyer will only be advised to pay 10% earnest money once his offer is approved.
5. When is the earnest money due?
The 10% earnest money is usually due within ten (10) calendar days upon the buyer’s receipt of a letter advice from Buena Mano Property Sales and Leases.
The buyer will also be advised through the letter when the balance of the downpayment should be paid, terms and conditions, and other fees. The 10% earnest money will form part of the downpayment.
6. What is the minimum down payment?
The minimum downpayment would depend on the loanable amount that will be approved by the lending bank that will provide the housing loan. It would be equal to the selling price less the approved loan amount.
For example, if the approved loan amount is equal to 80% of the total purchase price, then the minimum down payment shall be the remaining 20%. The minimum downpayment is inclusive of the 10% earnest money, which means if one has already paid the 10% earnest money, only an additional 10% is needed to complete the 20% downpayment.
7. What are the housing loan interest rates?
If you choose to finance the purchase with a housing loan from BPI or BPI Family Savings Bank, it will be through a mortgage contract, and the prevailing interest rates at the time of loan availment will apply.
For your reference, please see below indicative housing loan rates:
Source: BPI Express Online
Important: The above home loan rates are only indicative rates. To get the prevailing interest rates, you may visit the link above or contact us. We can assist you in securing a bank loan.
8. How long does it take to get loan approval?
The speed of the loan approval depends on many factors like the submission of all required documents. I provide free housing loan application assistance to property buyers as I am also accredited with their housing loans group.
Got a question not answered above? Ask them by leaving a comment below!
Download the Buena Mano Q1-2013 Metro Manila catalog
You may now download a softcopy of the Buena Mano Q1-2013 Greater Metro Manila catalog in PDF format (4.33MB). Just click on the link below to view/download the catalog (requires adobe acrobat reader).
Update dated January 23, 2013: Property H-033 (Page 17) located in Casanas St., Sampaloc Manila and priced at P1.5 Million is already sold. It was sold at the time the catalog was already for printing hence it was still included in the catalog.
How to make an offer
You just need to fill out the official OFFER TO PURCHASE FORM which can be found inside the catalog. You can also download it separately through this link:
Please remember to sign both pages of the offer to purchase form. Email the signed OFFER TO PURCHASE FORM to buenamano(at)bpi.com.ph and jay.castillo(at)gmail.com so we can follow up with the bank regarding your offer.
If you submit an OFFER TO PURCHASE FORM with my name as your referror/broker, we will make regular follow-ups with the bank regarding your offer and we will give you updates on the same. We will also assist you in securing a bank loan to complete your purchase. We shall likewise take care of the legwork for the payment of taxes and other fees, as well as the transfer of the title of the property to you. All of these services shall be at NO COST TO YOU. These are part of our services as accredited real estate brokers of Buena Mano.
NO RESERVATION FEE IS REQUIRED UPON SUBMISSION OF AN OFFER TO PURCHASE!
How to inquire
The best way to inquire would be by filling up the inquiry form below. It captures all the essential information needed so we can serve you faster. We answer all valid inquiries on a “first come first served” basis.[si-contact-form form=’5′]
The “fine print” – PLEASE READ!
ALL PROPERTIES ARE FOR SALE ON “AS IS WHERE IS” AND “FIRST-COME, FIRST SERVED” BASIS. PROPERTIES MAY BE WITHDRAWN WITHOUT PRIOR NOTICE.
Prices are not applicable to buyback transactions with former owners. Please call for buyback prices.
PRICES ARE SUBJECT TO CHANGE WITHOUT PRIOR NOTICE. ALL OFFERS ARE SUBJECT TO MANAGEMENT’S APPROVAL.
Misprints and other errors are unintended and do not constitute acts of misrepresentation, intentional non-disclosure, fraud or withholding of accurate property details and pricing.
PLEASE CONFIRM ENTRIES BY CALLING OUR HOTLINES OR SENDING AN EMAIL TO BUENAMANO(at)bpi.com.ph
As your real estate broker, we shall confirm the availability of properties for you.
To follow up on your inquiries, you may contact us through the following
Before calling, please make sure you have already filled-up the inquiry form above. When calling/texting us, please be ready/include with the following info:
- PROPERTY ID (located at the top right of each property in the catalog)
- PAGE # in the catalog (located at the bottom of the page)
Phone (please call/text from 9am – 6pm Mondays to Fridays)
- Cherry: 966-2541 / 09178568573
Up next: Luzon, Visayas and Mindanao, Red Tag properties (Metro Manila)
If you are looking for the rest of the Q1-2013 catalogs, the Luzon, Visayas and Mindanao, and the Red Tag Metro Manila catalogs will be next, I just need to digitize them first. Don’t forget to subscribe to email alerts to get notified once these catalogs are published.
To our success and financial freedom!
Real Estate Investor
PRC Real Estate Broker License No. 3194
Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2013 All rights reserved.
Full disclosure: I am an accredited real estate broker of Buena Mano Property Sales and Leases. If you learned about this list of foreclosed properties through ForeclosurePhilippines.com, kindly acknowledge me as the accredited broker who referred you (at no additional cost to you). Other real estate brokers, agents, referrers are welcome, just call us for details!
Disclaimer: The properties on the catalog above are for sale on an “as is where is basis”. All are advised to do the necessary due diligence before entering into a binding commitment financially or otherwise in relation to any of the listings of foreclosed properties published in www.foreclosurephilippines.com. Inadvertent misprints shall not alter the factual condition of any property published in www.foreclosurephilippines.com, nor shall they be deemed as misrepresentation.
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.