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How to do due diligence before buying foreclosed properties (video)

If you are interested in a foreclosed property/acquired asset, the first thing you need to do before buying is to do proper due diligence. I’ll show you how in today’s video.

This video is a step-by-step on how you can do your due diligence, and I explained this using my 60-item property due diligence check-list. Watch the video below:

Foreclosed Property Due Diligence C...

Did you learn something new from the video about due diligence?

Is there anything else about due diligence that was missing from the video?

Please let me know by leaving a comment below. Thanks!

Best regards,
Jay Castillo – Owner and founder, ForeclosurePhilippines.com

P.S. This free video training is my gift to all email subscribers who have downloaded my due diligence checklist. Click here if you have not yet subscribed.

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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.

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12 thoughts on “How to do due diligence before buying foreclosed properties (video)”

  1. Kailangan po dalhin na namin ang pera or pag nanalo napo kami po yung nakatera dito s blk 3 lot 15 pH 1a mabuhay homes 2000 darangan kalawaan binangonan rizal matagal n namin hinintay mala post hndi po namin nakita agad kami narin mag applay nito unit n ito po

    Reply
    • Hi Renante, sabi sa guidelines, magbabayad lang yung mga winning bidder/offerror. Kung kayo po yung nakatira, dapat nakatanggap po ba kayo ng sulat/invitation para sa “DIRECT PURCHASE” na galing sa Pag-IBIG. Naka receive po ba kayo ng sulat/invitation?

      Reply
    • Hi Paul, glad to know you want to start with real estate investing. Yes, may training ako about foreclosed properties and may bayad siya pero halos lahat na siguro ng kailangan mo malaman about foreclosed properties andun na kaya medyo mahaba yung training (9 weeks).

      If you want details or info para sa next enrollment schedule, pwede ka mag subscribe sa waiting list: https://courses.foreclosurephilippines.com/p/waiting-list/

      By the way, re-opening of enrollment for the next batch is this coming black friday. 🙂

      Reply
  2. hi, I just want to make sure. if we buy a foreclosed property, besides the TCP, what else do we need to pay?
    If the area is flood-prone, is it advisable for us to buy it? even if it is in QC? ty!
    the video is very helpful

    Reply
    • Hi Anne, you will also shoulder the taxes and fees related to the purchase. Most banks will shoulder the Creditable Withholding Tax and the buyer will shoulder all the rest (Documentary Stamps Tax, Transfer Tax, Business Tax (if applicable), registration fees, notarial fees, etc.

      With regard to flood-prone properties, I would advice against buying them. Speaking from our own experience and regrets with a house we purchased that was devastated by Ondoy.

      Thank you for the feedback regarding the video, much appreciated!

      Reply
    • Hi Ria,

      Here is Pag-IBIG’s reply to the same question:

      Here are the basic requirements in applying for a housing loan
      1. Housing Loan Application with recent ID photo of borrower/co-borrower (if applicable).
      2. Proof of Income:
      3. One (1) valid ID (Photocopy, back-to-back) of Principal Borrower and Spouse, Co-Borrower and Spouse, Seller and Spouse and Developer’s Authorized Representative and Attorney-In-Fact (if applicable)
      4. Transfer Certificate of Title (TCT) (Clean Title) (latest title, photocopy). For Condominium Unit, present TCT of the land and Condominium Certificate of Title (CCT) (photocopy),
      5. Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt (photocopy).
      6. Contract-to-Sell or similar agreement between the buyer and seller. (no need to Notarize)
      7. Vicinity Map/Sketch of the Property

      You can pass at your nearest Pag-IBIG branch or thru virtual Pag-IBIG

      Reply
  3. Good morning po Sir Jay. Kung gusto ko pong magrequest ng copy of TCT from Register of Deeds for a prospective foreclosed property, may mga requirements po ba yun at kailangan ko pa po bang magrequest ng permission from Pag-Ibig (kung sa Pag-ibig po galing yung foreclosed property).
    Thanks po in advance.

    Reply

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