I’m quite sure there are a lot of you out there who are looking for cheap homes for sale and the latest issue of the Buena Mano Luzon Properties for Q1 -2009 is a good place to start your search. The Buena Mano publication is a free catalog of foreclosed properties for sale which is published quarterly. This particular issue I have here is for Luzon Properties which include Green Tag, Yellow Tag, and Red Tag properties.
Green Tag Properties
What exactly are Green Tag properties? Green tag properties are free of special issues like pending court cases with former owners trying to stop the foreclosure, and illegal occupants that need ejection, issues that are best avoided by those that are just beginning to start in investing in foreclosures. The Metro Manila foreclosed properties in the Green Tag section are prime properties that are priced Php10M and above. You may also want to checkout the Buena Mano Green Tag Metro Manila Foreclosed Properties for Sale Q1-2009 here. Other areas included in the Green Tag section are Naga, Lipa, Bulacan, and Dagupan, among others.
Yellow Tag Properties
Yellow Tag properties on the other hand are are foreclosed properties with any of the following special concerns:
- Properties whose titles may still be in the process of transfer to the name of the bank which foreclosed the properties
- Properties that are still being occupied by former owners, tenants or illegal occupants
- Properties whose property documents still need to be updated
Because of such “special concerns”, the bank will allow big discounts off the selling price of Yellow Tag properties. Areas covered by the Yellow Tag Section are Lipa, Naga, Bulacan, and Dagupan. You may also want to browse the previous Buena Mano Super Value Yellow Tag Foreclosed Properties for Sale Q4-2008 here.
Red Rag Properties
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
For Red Tag properties, the bank will allow even bigger discounts on the selling price of these properties giving buyers better opportunities to buy properties for their own use or for investment purposes. 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. Areas covered by the Red Tag section are also Naga, Lipa, Bulacan, and Dagupan. For your reference, the previous Buena Mano Super Value Red Tag Properties for Sale Q4-2008 can be found here.
Please do take note that all prices are negotiable, and those with limited budgets will have a better chance of finding cheap homes for sale or super value investment properties. For more details and other inquiries, please contact their offices as indicated in the catalog.
You may download the Buena Mano Luzon Properties Q1-2009 listing of foreclosed properties for sale here. I apologize for the big file size of 8Mb as this was the smallest I could get for a 45 page colored document.
Up next is the Buena Mano Visayas and Mindanao Properties Q1-2009. Don’t forget to subscribe to my mailing list so you won’t miss this and any new updates. If your mailbox is getting full, you may also subscribe via RSS reader. Please feel free to share this listing to your family and friends who may also be looking at investing in foreclosures.
I have one question. I’m interested in buying a property from them. I need a paper copy of their letter of intent. Do you happen to know if these catalogues are available in their provincial branches? If not, can you share where you acquired your copy?
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Thank you for all the informations you are sharing with us.
Btw, I have a question…If for example I will be buying a redtag property and I will buy it in a price dictated by the bank…how we are going to deal with the former owner who has been stopping the forclosure? what are the ussual procedures for that.
Thanks in advance
Hi Robbie, you’re welcome! As far as I know, for properties that are still occupied by the former owner, ejection along with all expenses associated with it shall be for the account of the new buyer. This usually means the new buyer will have to file an ejectment case, or pursue the ejectment case if it has already been filed by the bank. As I have often mentioned in the past, ejectment cases may drag on indefinitely which is why I would recommend beginning real estate investors to avoid such properties. Thank you also for dropping by!
Buying real estate bargain properties can be a great way to make a large profit. If you take the time to do your research and select the property carefully, you can make a great deal of money.
Thanks for the very quick reply and for the link Jay! Yes, i will inquire next with SSS(ang bagal ng website nila!). But I will first pay the taxes I owe the govt to start the processing of the title. Tapos hopefully, something will come up this year.
Thanks again Jay!
Hi Dinah, your welcome and thank you also for visiting my blog! I also wish I had know this 4 years ago and we probably would have bought a 4-door apartment instead of our house. I’ll share my learnings about this to all of you one of these days. Hmmm,I read your blog and noticed you are now inquiring with pag-ibig. How about SSS?
I already added to your blog to my blog roll, I’ll probably add a link exchange facility here soon so others can also exchange links easily. =)
Hi Jay, Thank you for sharing these information to us. How I wish I stumbled upon your blog 4 years ago before I bought our house in a low cost devt in Montalban! Kaya lang, didnt know then.
I made about a blog about how I might build and make improvements to that house and here is teh link http://bhaikubo.blogspot.com
I hope you can share some ideas on where else I can get financing for my house (bans are out of the question as my salary wont qualify 🙁
again thanks and would you care or a blog exchange?
Hi Infamous75, you can just download the letter of intent here and then print it out. You can then fill-up and submit to them. I got my copy from someone at BPI when I attended an event for real estate brokers at the SMX where they invite licensed brokers to become accredited with them. I wish I was already accredited so I could assist you. Thanks for dropping by!
Hi Jay, thanks for posting this very helpful info!
I have one question. I’m interested in buying a property from them. I need a paper copy of their letter of intent. Do you happen to know if these catalogues are available in their provincial branches? If not, can you share where you acquired your copy?
ditto