Question 1

How do I buy a foreclosed property in the Philippines?

Accepted Answer

To buy a foreclosed property, browse listings on this site, then contact the bank directly via the link on each listing. Visit the bank branch with a valid ID and the property reference number. The process typically involves a written offer, due diligence on the title, and either cash payment or bank financing.

Question 2

Which banks sell foreclosed properties in the Philippines?

Accepted Answer

Major banks and institutions that sell foreclosed properties include BDO, BPI, Metrobank, PNB, RCBC, UnionBank, Security Bank, LandBank, DBP, Pag-IBIG, SSS, Maybank Philippines, China Bank Savings, and Bank of Commerce. foreclosed.com.ph aggregates listings from all of these in one place.

Question 3

What is the difference between a foreclosed property and an acquired asset?

Accepted Answer

Both refer to properties the bank has taken back from borrowers. "Foreclosed" means the bank reclaimed it through a court process after loan default. "Acquired asset" or ROPA (Real and Other Properties Acquired) is a broader term that includes properties transferred via dacion en pago (voluntary transfer in lieu of payment). Both are sold by banks and available on this site.

Question 4

Are foreclosed properties cheaper than regular properties in the Philippines?

Accepted Answer

Foreclosed properties are often priced at or near the bank's appraised value, which can be significantly below the current market rate — especially if the property has been held by the bank for some time. However, they are typically sold as-is, so factor in potential renovation costs and always conduct a title check before buying.

Question 5

Can foreigners buy foreclosed properties in the Philippines?

Accepted Answer

Foreigners cannot own land in the Philippines, but they can own condominium units (up to 40% of a building). Foreclosed houses or lots can be purchased through a Filipino spouse, a Filipino corporation (at least 60% Filipino-owned), or a long-term lease agreement. Always consult a Philippine real estate lawyer before proceeding.

Lot 1, PCS-CAR-000120, Purok 4-Lower East, Brgy. Camp 7, Loakan District, Baguio City, Benguet (No Possession / With Adverse Claim) (Interior Lot / Minimal take-up value on improvement)

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