Pag-IBIG obtained assets are best for both low-profits earners who want to own a low-cost home and actual property investors who need to maximize their returns.
Interested in buying a received asset from Pag-IBIG? Here’s the entirety you need to know approximately Pag-IBIG Fund acquired belongings to make an informed shopping for decision.
What are Pag-IBIG Acquired Assets?
A Pag-IBIG received asset is belonging that is foreclosed due to the fact the original proprietor who availed of Pag-IBIG housing mortgage failed to pay the monthly amortizations.
The Pag-IBIG Fund commonly gives antisocial debtors a danger to buy lower back their foreclosed assets after they default on their payments. It additionally gives this purchase-back option to tenants who occupy and lease the foreclosed properties.
If the purchase-again alternative doesn’t exercise session, Pag-IBIG gives the foreclosed belongings to new consumers at a lower price through public bidding to get better the unpaid mortgage and generate earnings for the Fund.
If the sale thru public sale fails for certain belonging, it’s miles then placed up for negotiated sale wherein consumers can get as much as 30% bargain.
Should You Buy a Pag-IBIG Acquired Asset?
Purchasing foreclosed assets from Pag-IBIG makes the economic experience for 2 motives.
First, Pag-IBIG received assets are sold at prices underneath the marketplace fee. This allows you to have the funds for a domestic in case you don’t have sufficient cash to purchase an emblem-new asset. If you avail of Pag-IBIG housing mortgage to finance a foreclosed belongings, you’ll have lower month-to-month amortizations.
Second, Pag-IBIG foreclosed residences are a tremendous investment. Buying one gives you an opportunity to shop for low and sell or rent excessive, now not to mention that the price of actual property increases through the years.
However, there are risks to buying a foreclosed home. Pag-IBIG obtained assets are bought on an “as is, in which is” basis, which may also imply that a number of them may additionally have broken components. If a foreclosed belongings’ condition is less than perfect, you’ll need to spend cash to fix it.
Read extra: Home Improvement Loans: Finding the Best Fit for You
How to Find the List of Pag-IBIG Acquired Assets for Sale
There are two ways to view Pag-IBIG foreclosed belongings listings: by way of traveling the Pag-IBIG Fund office or checking the government business enterprise’s website
To get the listing of foreclosed residences inside the Pag-IBIG office, go to the second one floor of JELP Business Solutions Center, 409 Shaw Blvd., Mandaluyong (for houses in Metro Manila) or the Pag-IBIG nearby branch (for houses inside the provinces). Coordinate with the Marketing and Sales-Acquired Assets Management Group.
Steps to View the List of Acquired Properties Under Negotiated Sale
If you choose to see the list of acquired belongings online, test the Pag-IBIG internet site’s Property Finder web page. Listings of foreclosed properties in Metro Manila are up to date regularly, while the listing for homes within the provinces is updated each Friday.
Here’s the way to discover the listing of Pag-IBIG received belongings online:
Click the Property Finder link on the Pag-IBIG Fund internet site. This will take you to the Pag-IBIG Fund Acquired Assets page.
Click the Properties Under Negotiated Sale button.
Select your chosen region (province and municipality) and charge range from the drop-down menu.
Click the Search button. All the available foreclosed homes on the market primarily based in your search criteria will appear, such as the following info:
– Subdivision name
– Branch account (the Pag-IBIG workplace that supervises the belongings’ sale)
– Contact numbers of the supervising Pag-IBIG branch
– Date while the belongings changed into last updated
Click the View Property/s link to view those unique details of the belongings you’re interested in:
– The exact area of the belongings (section, block, and lot)
– Lot location
– Floor place
– Price (the price of the belongings)
– Property type (residence and lot / lot simplest / duplex / quadruplex / row residence / townhouse)
– Status (occupied/unoccupied)
– Remarks (to be had/reserved)
Click the Print button if you need to have a replica of the foreclosed property’s records.
Steps to View the List of Acquired Assets for Auction