Looking for the complete list of foreclosed properties in the Philippines? Yes, you’re in the right place. If you’re in the market for a new home or investment, foreclosed properties can be a great option.
Finding foreclosed properties in the Philippines can be a daunting task for home buyers and property investors. The journey often involves navigating a maze of incomplete information, unreliable listings, and a lack of centralized resources.
By aggregating links from various reputable sources, I’ve created an all-inclusive list that aims to simplify your search. This resource ensures you have access to accurate, reliable information, making your journey to acquiring foreclosed properties in the Philippines smoother and more efficient.
Real Estate Market in the Philippines
According to Statista, the real estate market in the Philippines is projected to reach a value of $6.06 Trillion (PHP 386 Trillion) in 2024. That’s huge! And with this huge demand, it makes sense to invest in real estate properties.
See our other post if you want to learn how to buy foreclosed properties in the Philippines, including preparations and expert tips.
As the COVID-19 pandemic continues to wreak havoc on the economy, more and more Filipinos are finding themselves struggling to keep up with their mortgage payments. As a result, banks are starting to foreclose on properties across the country.
Of course, buying a foreclosed property is not without its risks. In many cases, the previous owner will have damaged the home in some way, and you may not be aware of all the repairs that need to be made until after you’ve already bought the property.
To help you make an informed decision, we’ve compiled a complete list of all the bank & government foreclosed properties currently for sale in the Philippines.
Complete List of Foreclosed Properties in the Philippines
1. Pag-ibig Foreclosed Properties
Pag-ibig updated recently that you can now submit your Offer to Bid / Offer to Purchase through courier services like Grab Express, Lalamove, Mr. Speedy, Toktok, etc.
Contact numbers: 8-654-1398/8-654-1032
2. BDO Foreclosed Properties
This is the link to BDO’s Properties for Sale page. Not only real estate, you can also find repossessed cars on this page.
Contact numbers: Metro Manila: (02) 631-8000, Domestic Toll-Free: 1800-10-631-8000 (PLDT)
3. BSP Foreclosed Properties
BSP offers discounts ranging from 5% to 30% on selected properties. You can easily search properties through their advanced filter option.
Contact numbers: 5306-3417, 5306-2911, 5306-2912, 5306-3415
Email: [email protected]
4. SSS Foreclosed Properties
Click the button to access the SSS Acquired Assets page. There are two links to choose from: Housing and Residential lots for sale.
Contact numbers: Hotline: 1455, Toll-Free No.: 1-800-10-2255777
Email: [email protected]
5. PNB Foreclosed Properties
You can search PNB properties for sale in this page. You can also inquire via email PNB’s contact email below.
Contact numbers: (02) 8573 8888
Email: [email protected]
6. Metrobank Foreclosed Properties
You can view all Metrobank properties for sale in this page. You can use the advance filter option or you can click Search directly to view all properties.
Contact numbers: Metro Manila: (02) 88-700-700, Domestic Toll-Free: 1 800 1888 5775
Email: [email protected]
7. PSBank Foreclosed Properties
On this page, you have three options. You can search PSBank properties, view the list of PSBank properties for sale, or view PSBank properties with special prices.
Contact numbers: (632) 8845-8888, (632) 8885-8335, (632) 8885-8208 local 8990 or 8016
8. Landbank Foreclosed Properties
You can find the list of Landbank properties for sale on their website as well as the bidding forms. You can also send them an email.
Contact numbers: Hotline: (+632) 8-405-7000, Domestic Toll-Free: 1-800-10-405-7000
Email: [email protected]
9. RCBC Foreclosed Properties
On this page, you can click the button to access the entire list (pdf file) of RCBC properties for sale.
Contact person: Elma Silvestre
Contact numbers: 0918-9929605
Email: [email protected]
10. Security Bank Foreclosed Properties
You can find all Security Bank properties for sale on this page organized per region. You can also filter by area and price.
Contact persons: Ranilo Nadonza ((632) 888-7352, 09189068380, [email protected]), Christine Balute (632) 867-6788 local 8995, 09985825800, [email protected])
11. UCPB Foreclosed Properties
This is UCPB’s Ready for Occupancy (RFO) properties for sale page. Click the link below the image to access the entire list or send them an email.
Contact numbers: (+632) 8811-9111
Email: [email protected]
12. EastWest Bank Foreclosed Properties
This is the page where you can access the link to view the entire list of EastWest Bank properties for sale.
Contact number: 0999-8857830
Email: [email protected]
13. China Bank Foreclosed Properties
On this page, you can view China Bank’s entire list of properties for sale.
Contact numbers: +632 888-55-888
14. Unionbank Foreclosed Properties
One of the best foreclosed property pages is Unionbank. Right off the bat, you can see the entire list of Unionbank properties with pictures and details.
Contact numbers: Metro Manila: (+632) 8841-8600, Domestic Toll-Free: 1-800-1888-2277
Email: [email protected]
15. GSIS Foreclosed Properties
On this page, you’ll have access to three links: Assets Retail for Sale, Retail for Lease with Option to Buy, and Big Ticket Assets for Lease. You can also download the necessary forms.
Contact numbers: Metro Manila/International: 8-847-4747, Globe & TM: 1-800-8-8474747, Smart, TNT & Sun: 1-800-10-8474747
Email: [email protected]
What are Foreclosed Properties?
A foreclosed property is a property that has been repossessed by the bank or lending institution after the owner failed to make their mortgage payments. In most cases, foreclosed properties are sold at auction, but some banks will also sell them directly to buyers.
Why You Should Consider Buying Foreclosed Properties
Foreclosed properties can be a great deal for buyers, but there are also some risks to consider.
1. Good Deal on the Price
The main advantage of buying a foreclosed property is that you can get a good deal on the price. Banks are typically more interested in getting the property off their hands as quickly as possible, so they’re often willing to sell at a significant discount.
2. More Negotiating Power
Another benefit of buying foreclosed properties is that you may have more negotiating power with the bank. If there are multiple offers on the property, the bank may be more willing to accept a lower offer if it means they can close the deal quickly.
Of course, there are also some risks to consider before buying a foreclosed property. In many cases, the previous owner will have damaged the home in some way, and you may not be aware of all the repairs that need to be made until after you’ve already bought the property.
It’s also important to remember that foreclosed properties are typically sold as-is, which means the bank is not responsible for making any repairs before or after the sale. This can be a major downside if there are significant damage or repair issues with the property.
Frequently-Asked Questions
What is the general process of foreclosing on a property in the Philippines?
The foreclosure process typically begins when the borrower defaults on their loan payments, leading the lender to file a u003cstrongu003eNotice of Defaultu003c/strongu003e. This is followed by a public auction where the property is sold to recover the outstanding debt, and if no buyer bids higher than the amount owed, the lender takes ownership of the property.
What are the risks of buying a foreclosed property in the Philippines?
Buying a foreclosed property carries risks such as u003cstrongu003ehidden legal issuesu003c/strongu003e (e.g., outstanding taxes or liens), u003cstrongu003epossible property damageu003c/strongu003e, and the potential for u003cstrongu003eoccupants refusing to vacate the propertyu003c/strongu003e, which may lead to costly legal battles.
Are foreclosed properties worth buying?
Foreclosed properties can be worth buying if u003cstrongu003edue diligence is conductedu003c/strongu003e, as they are often sold below market value. However, prospective buyers should carefully assess risks, repair costs, and legal issues before making a decision.
How many months will Pag-IBIG foreclose the property?
Pag-IBIG typically initiates foreclosure proceedings after u003cstrongu003esix (6) monthsu003c/strongu003e of non-payment. However, they offer a grace period for the borrower to settle the arrears or restructure the loan before finalizing the foreclosure.
What is the difference between a pre-foreclosure and a foreclosure?
u003cstrongu003ePre-foreclosureu003c/strongu003e is the period when the borrower is in default but has not yet lost the property, allowing them time to settle the debt or sell the property. u003cstrongu003eForeclosureu003c/strongu003e, on the other hand, is the legal process by which the lender takes ownership of the property after the borrower fails to meet their loan obligations.
Final Thoughts
Buying a foreclosed property can be a great way to get a good deal on your next home or investment, but there are also some risks to consider. Make sure you research and work with a qualified real estate agent to avoid surprises down the road.
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