From low prices to speedy transfer of titles, property buyers can seize a lot of benefits when buying repossessed assets. The local real estate market offers a range of options, varying in property type, size, and price point.
While you can certainly purchase acquired real estate from banks, a more popular option is to go for Pag IBIG foreclosed properties for sale. Here, you can find great, investment-worthy assets. They can be a beautiful forever home, one that has a high market value after a few renovations. Or, they can be an income property, leased out to tenants.
The process of buying Pag-IBIG foreclosed properties starts with the search. To find the property suitable for your needs and goals, you can go to the Pag-IBIG Fund office, visit the agency's official website, or scroll through the listings presented here in Lamudi.
However, beware of fixers when buying Pag-IBIG repossessed properties for sale. Be sure to do business with only legitimate officials from the government agency.
Pag IBIG foreclosed properties for sale are sold lower than the market value. This is beneficial when you want to live in a popular location where property prices are high. Those who buy, flip, and sell properties can also cash in huge returns of investment by buying these repossessed assets.
Do remember that these properties are sold on an “as is where is” basis, which means you're buying them in their current condition. This is why it’s important to make every effort to inspect thoroughly before the purchase and see what kinds of property issues you’re buying. The Pag-IBIG foreclosed properties for sale that only have cosmetic problems are the ideal properties to buy since these can be addressed without breaking the bank.
The prices of Pag-IBIG foreclosed properties partly depend on its location and size. In Metro Manila, you can find assets priced from P900K to P5M, as of March 2022. The floor areas of these units range from 25 square meters to 70 square meters. Meanwhile, in provincial areas, you can buy properties as low as P500K. These units typically come with compact spaces, say, 20 square meters of floor area.
There’s a wide range of Pag IBIG foreclosed properties for sale in the local market today. If you’re buying a starter home, you can explore the repossessed rowhouses and condos. But if you’re providing accommodations for a bigger family, you can get single-attached homes and townhouses, which typically come with a bigger floor area compared to rowhouses and condos.
There’s also the option to buy foreclosed lot-only properties. If you have specific must-haves for a home, this is the best choice since it gives you the opportunity to build a residence tailored to your preferences.
A lot of residential communities around the country have Pag-IBIG foreclosed properties worth investing in. As of March 2022, these developments in Metro Manila have repossessed assets, which you can consider in your homebuying plans:
Before visiting the actual houses you’re considering, make sure to research the location and neighborhood of the property online. You’ll get more value for your money when the Pag-IBIG foreclosed property you’re buying is in a well-maintained community and strategic location.