Purchasing a Foreclosed House and Lot in The Philippines – Get to know its Benefits

Published Date : May 28, 2018 Buying Tips Community Guide Financing Industry News Property Recommendations Real Estate 101

Are you considering a foreclosed house and lot in the Philippines to be your new home? Is it safe to live in a foreclosed property? Do you really get to save a lot of money by buying one? Buying a foreclosure and selling it for a higher price later can certainly be profitable if you know what you’re doing. Here are just some of the many benefits of doing so:

  • You can get a foreclosure at a lower-than-market price, in most bases. The bank that now owns the real estate will do everything it can to sell the property. It needs to earn off the house and lot. The bank may offer low down payments, long payment terms, lower interest rates and others.
  • You don’t have to worry about the title because it is sure to be clean. All the documents have been prepared by the bank that owns the property. This is one of the many benefits of buying a foreclosed house and lot in the Philippines.
  • Foreclosed properties are generally cheaper than brand new houses. You can save more when you buy this type of real estate as opposed to purchasing or building a new one. But you should see the actual property to check the needed repairs to be done and to determine the total cost that you will incur.
  • You are purchasing a ready-to-move-in home. Compared to new houses that don’t have electricity and water connections yet, these houses are usually already fitted for utilities.
  • Take advantage of lower mortgage payments. If you have set a budget for a new home but found a nicer and lower-priced deal for a foreclosed house and lot in the Philippines, then you will have lower monthly payments.
  • It provides an investment opportunity. If you want to get in on the real estate game, buying foreclosures is one of the best ways to start. Choose properties that need minimum repairs to earn more revenue.
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Foreclosed House and Lot for Sale in Cavite – Tips for Home Investors and Real Estate Professionals

Published Date : May 22, 2018 Buying Tips Financing Property Recommendations Real Estate 101

Home investors and real estate professionals are always on the lookout for properties that have a potential to earn. Are you interested in joining the game? One of the options that you can consider is buying foreclosed house and lots in Cavite. This province offers all kinds of business opportunities if you know where to look.

The province of Cavite has showed impressive economic growth in the recent years. It is also a booming tourist destination known for its festivals, museums, and historical sites. Employment opportunities abound as various industries and manufacturing plants establish their headquarters here. It’s easy to see why many residential developments are rising to cater to the demand.

Ready to cash in on the trends? Here are the tips that you can consider when looking for a foreclosed house and lot in Cavite:

  1. Use online real estate portals

It’s easier than ever to find potential properties to buy because all you need to do is go online and search for Cavite foreclosed properties. Online platforms give you a comprehensive evaluation of all foreclosed properties that are available on the location that you indicate. They will also list the price, the agent you should contact, and all other basic details regarding the foreclosed property.

Some websites offer a price comparison feature to make your life even easier. You can put two foreclosed properties side-by-side to compare the attributes. You can also look around the location with the help of an agent to determine the prices of other properties in the vicinity.

  1. Prepare for additional expenditures

Any foreclosed house and lot in Cavite is taken on an as-is, where-is basis. It is not maintained by the institution that owns it. If you want to invest in this type of property, be sure that you have some money ready for repairs.

  1. Always do an actual inspection

Do your homework and look at the structure that you are buying. Bring an engineer or a home builder to check out the overall condition of the building. Will you actually earn from the property after all repairs and upgrades are done? Do the math to determine if the property is truly a good investment.

Buying foreclosed properties in Cavite can be tricky, but if bought after proper consultation and research, can be a very promising investment.

About the Author:

This article is written by Aakanksha Sangtani, working as an International Business Analyst at Housal Inc., an online platform for real estate, addresses the unfulfilled needs by harnessing technology and bringing all-related solutions under one roof. For buyers, tenants, sellers, brokers, agencies or developers, it encompasses all their answers from property matching, listings, management, analytics and much more. Housal Inc. is the evolution of the real estate process – empowering the real estate industry for the future.

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