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:
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.
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
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?
Hi po,how to acquire asset thru pag ibig in palmera springs north caloocan
Hi Meldy, the exact process would depend on who is selling the property (I include that in the property details and the blogpost related to an updated listing. For Palmera Springs, here are the search results so far: https://www.foreclosurephilippines.com/classifieds/?query=palmera+springs
Hi Sir Jay. I’ve been wanting to start real-estate investing. May training po ba kayo? May bayad po ba?
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. 🙂
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
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!
How to apply thru Pag Ibig for a clean title property..
Hi Ria,
Here is Pag-IBIG’s reply to the same question:
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.
Hi Mar, yes, ang usual requirements ay filled-out request form, photocopy ng ID, at sa ngayon kailangan na din ng authorization letter para makahingi ng certified true copy ng TCT/CCT. Nag issue kasi ang LRA ng memo tungkol dito: “LRA Circular 05-2006”
Andito ang details: https://www.foreclosurephilippines.com/certified-true-copies-titles-require-identification-authority-quezon-city-registry-of-deeds/