Author Topic: how to sell a property that is still under bank loan?  (Read 2160 times)

jessica

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how to sell a property that is still under bank loan?
« on: March 06, 2015, 09:32:05 am »
Hi, please move na lang po this topic kung wrong thread.

My ofw sister has a condo in Makati, and still under loan. Gusto na niya ibenta, baka naman daw kasi di na nila magamit dahil hindi na sila makakauwi madalas sa Pilipinas dahil nag-aaral na yung mga anak nila sa ibang bansa and dun na gusto mag stay. Problem nga is naka loan pa yung unit na ready for occupacy naman na, and never been used. Now, nagbabayad siya ng loan sa bank, and ng association dues sa condo. Ok sa kanya na bayaran na lang yung naihulog niya. Paano kaya, and may mga broker kaya na makaka-assist sa kanya, pati pag asikaso ng papers. Dapat ba niyang i-post as cash basis payment lang, then ibabayad niya sa bank yung cash para ma transfer ownership na, tutal ready na for occupacy yung unit. And ilang percent usually ang dapat mapunta sa broker? Thank you!

aquacharly

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Re: how to sell a property that is still under bank loan?
« Reply #1 on: May 09, 2015, 05:55:33 pm »
I buy properties that are bank mortgaged.  No problem.  I pay cash.  kasi I  use cash payment as a tool to get an edge over other buyers and/or to get better discounts.  Pero, well, I buy only properties that are very desirable/easy to re-sell/easy to lease out.    I do not buy a property na "matumal" or "matutulog lang" kahit mura pa yan.   

Brokers do not mind selling mortgaged properties.  They accept 3-5percent broker's fee:   Depende sa ganda ng property mo.  Yang pag assist eh usually, kasama na sa fee nila.  Or, they ask for a few thousands to cover their coordination work with the mortgaging bank.

Recovery of her payments? Sure, why not, lalo  na tapos na yung unit & your sister got it at pre-selling price.  Puede pa nga sya magka profit pa.
BUT as to cash payment -- depende kasi if yung mga target buyers sa condo na yan eh may capacity to pay cash for the unit.  If kaya lang eh yung down payment/equity of 20percent --  kelangan the buyer gets a mortgage pa.

See if the developer can re-sell the unit for your sister. 


 





leigh_iyah01

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Re: how to sell a property that is still under bank loan?
« Reply #2 on: November 04, 2021, 03:48:16 pm »
Hi girls, I cannot start a new topic, so nagbaka-sakali na merong makapansin ng question ko.

I bought a residential lot from a developer in Laguna through bank financing. Loan take-out already took place last year, and developer already emailed me that turnover of property is ready na. I just need to sign the Certificate of Acceptance.

My questions are: 1) What documents should I have on-hand right now? Kasi ang meron lang ako is email copy of my loan agreement with the bank
2) Original copies ba ang kelangan on-hand ko, or soft copies are okay?

Thanks so much sa sasagot

 

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