Having a home is a dream to many Filipinos. Unfortunately, some of us feel hopeless to make this dream a reality because of the current rates of real estate properties.
Most properties are really expensive that some of us think that only OFWs and those who are working locally with big salaries can afford to buy a house and lot or even a condominium.
But do you know that there are foreclosed properties that are being offered at a more affordable and cheaper price?
Well, yes, they exist.
What are Foreclosed Properties?
Foreclosed properties are properties like a house and lot, a lot only, or a condominium unit, that are sold below their actual market value.
Foreclosure happens when the previous buyer fails to make timely repayments for a bank loan it used to pay for the property and then the lender (example, the bank) will sell it as a foreclosed property, usually at a cheaper price.
Where to buy Foreclosed Properties
The Pag-IBIG Fund is one of the institutions that offers foreclosed properties. There is a monthly auction of foreclosed properties that is posted on their website and in their respective offices.
For the month of February 2019, there will be public auctions of foreclosed properties in different cities and provinces in the Philippines.
NCR Public Auction of Foreclosed Properties
In NCR, a total of 598 foreclosed properties will be available for sale during the auction on February 27 and 28, 2018 at the Roofdeck, JELP Business Solutions Center, 409 Shaw Blvd. Mandaluyong City.
- Feb. 27 – 313 units in Cavite will be available at the auction
- Feb. 28 – 285 units in Metro Manila, Batangas, Bulacan, Laguna, and Rizal will be available at the auction
If you are planning to buy or acquire a property in these areas, mark your calendar now and don’t miss the public auction on the said dates.
Who knows, you might find your dream home at the auction.
If you want to avail of foreclosed properties in the National Capital Region with discount, you may attend the Pag-IBIG Fund auction on February 7 and 8 at the same venue.
Pag Ibig Aquired Assets in Cavite Area
Below are some of the available Pag Ibig Aquired Assets that will be available at the public auction.
Prime Properties in Cavite
- Citihomes Molino
- Villa Lessandra
- Pinecrest Village
- Westwood Highlands
- Camella Homes San Marino Classic
- Villaggio Ignatius
- Green Estate
- Capitol Hills Executive Subdivision
Lot Only in Cavite
- Citihomes Resortville
- Sunny Brooke
- Carissa Homes Tanza-Bagtas
- West Governor Heights
Single Detached in Cavite
- Ciudad Adelina
Single Attached in Cavite
- Camella Homes Springville East
- Windsor Homes
- Village Park Subdivision
- Citihomes Resortville
- Fiesta South Homes
- Pamayanang Maliksi
- Ciudad Adelina
- Satelliteville Trece
Town Houses in Cavite
- West Bay Homes
- Greensquare Villas
- Greentown Villas I-Extension
- Casimiro Townhomes-Molino
- Monte Carlo Townhomes Subdivision
- The Cedar Village
- Sunny Crest Village
- Southcrest Village
- Winter Breeze Homes
- Wellington Place @ Mary Cris Complex
- Greentown Village II
- Green Estate
- Greenplace Homes
- Sunset Meadow
Duplex in Cavite
- Parklane Country Homes
- ACM Woodstock Homes-Carsadang Bago
- Ciudad Nuevo
- La Paz Homes II
Quadruplex in Cavite
- Parklane Country Homes
- Carissa Homes
Row House in Cavite
- Cherry Homes Subd
- Wood Estate Village
- Mary Homes
- Village Park Subdivision
- Mabuhay Homes 2000
- Dexterville Classic
- Goldenville Subd
- Greensborough
- Tahanang Yaman Homes
- Mary Cris Complex
- Belmont Hills I
- Belvedere Towne
- Sunny Brooke
- Tierra Nevada
- Parklane Country Homes
- Villa Verde Homes
- Villa Apolonia
- Ciudad Nuevo
- Hillsview Royale
- Carissa Homes
- Landmass Park Subd
- West Plains Subdivision
Pag Ibig Aquired Assets in Metro Manila
Prime Properties in Bulacan, Laguna, Metro Manila, and Rizal
- Pleasant Hills in Bulacan
- St Joseph Village 9 in Laguna
- Jem Subdivision in Marikina
- Isabel Tower Condominium in Quezon City
- Suburban Villas Condo Ph2 in Cainta
- Robinsons Homes East I in Antipolo, Rizal
- Greenland Newtown Subdivision in San Mateo, Rizal
Condominium Units in Metro Manila
- Smile Citihomes in Quezon City
Town Houses in Metro Manila, Bulacan, Laguna, and Rizal
- Villa Annapolis in Bulacan
- Northgate Park Executive Homes I in Bulacan
- Deca Homes in Bulacan
- Lakeside Nest in Laguna
- St Joseph Village 6 in Laguna
- San Isidro Heights I Subd in Laguna
- Celina Homes Technopark in Laguna
- Villa De Calamba in Laguna
- Mahogany Villas in Laguna
- Solar Urban Homes North in Caloocan
- Villa Luisa North in Caloocan
- Queensland Village in Quezon City
- Mabuhay Homes 2000 Darangan in Binangonan, Rizal
- Mediterranean Heights in Rodriguez, Rizal
- Villa San Mateo in Brgy. Guitnang Bayan
Things to Remember Before Buying a Foreclosed Property
Please remember that these foreclosed properties are sold on an “AS IS, WHERE IS” basis.
As a potential buyer, you are therefore encouraged to check and inspect the property/ies that you’re interested in before tendering your offer or before joining the bidding.
It is important that you inspect the property to avoid any issues after you acquire it. Some properties are still occupied by previous homeowners and you wouldn’t want to deal with them later after you paid the property.
Also, since you will have to bid for the property, you must have enough funds to join the bidding and to pay the remaining balance in installment basis. There may be additional discounts if you pay it at a shorter period.
To see the latest and updated list of properties and schedule of auctions, you may visit the Pag-IBIG Fund website.
Disclaimer: PSP is not affiliated with Pag-IBIG Fund. This article is for information purposes only. Please coordinate directly with the Pag-IBIG Fund office for your inquiries.
RELATED ARTICLES:
- Bank Foreclosed Properties for Sale
- PAG-IBIG Foreclosed Properties in NCR: House and Lot, Condo Units, and Lots For Sale
- How to buy your own house with Pag-IBIG Fund Affordable Housing Program
- Where to Find Affordable Houses for Sale in the Philippines
- How to Apply for BDO Home Loan – Requirements and Procedures
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Please visit our site or the PagIBIG Fund site regularly for updates on Pag-IBIG Foreclosed Properties. Thanks. 🙂
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