Buying somewhere to rent out

[malolos]

Have you tried looking on the bank foreclosure sites, some real bargains to be had.

[Harry T]

Have you tried looking on the bank foreclosure sites, some real bargains to be had.

Where can i find these foreclosure sites ?.

[Terpe]

Where can i find these foreclosure sites ?.

Caveat Emptor.
Don't be fooled into thinking this is a safe and easy route.

Just in the same way as you'd buy any property in the Philippines you must perform due diligence.
It's not difficult but can be very time consuming.
Generally the sales are made on an 'as-is-where-is' basis. Means that in principle you agree to take on all claims, liens, assessments, liabilities and litigation involving the property from the date you sign the Deed of Sale.

So do be prepared to read and understand that fine print.
Know the legal conditions and all the potential taxes involved with the foreclosed property.
(Capital Gains Tax, Documentary Stamp Tax, Transfer Tax, VAT, Business Tax etc)
Find out about zonal values and who takes care of that.

Remember this is a non-performing-asset and has history,
The more problems/challenges/issues you take away from the selling bank, the better deal they can give you.

It takes time and effort to seek out those foreclosed properties with clean titles properly registered to the selling bank.

[malolos]

Harry T .,
type bank foreclosures Philippines.