Foreclosed House and Lot in Metro Manila - Tips for Investors
and Real Estate Professionals
Buying a foreclosed house and lot in Metro Manila can be a good investment if you know what
you are doing. But since these types of properties are heavily discounted and very popular with
investors, competition can be tight. Knowing where to find these properties and how to choose the
right one to buy can maximize your earning potential. Here is a list of tips for investors and real
estate professionals who are interested in purchasing a foreclosed house and lot in Metro Manila:
•
Metro Manila is a megacity; it is home to several commercial and business districts. The
best foreclosed house and lots are in the, so-called, ‘hot’ locations which are adjacent to these
financial areas, preferably one to two rides away. If you are looking to sell your property to
a family, always look for a house and lot that is in close proximity of malls, supermarkets,
and public markets. It will be an easy sell as it caters to their lifestyle. If your potential
customer is a single professional or someone who is about to start a family, you should look
for properties that are close to work areas and offices.
•
Always be conscious of pricing. Find out what the average market value of property is in
that area before you start bidding. Wise potential buyers are acquainted with the property
prices within the area and won’t buy your property if it is too expensive.
•
Check foreclosed properties online. You do not always have to go out and hit the
pavement when you are looking for the right foreclosed house and lot in Metro Manila to buy.
You just need to find a brokerage service website that offers great deals in foreclosed property
listings.
•
Inspect the property. Look for cracked walls, broken windows, damaged roofs and other
repairs that you need to do. You can hire a professional to make a full evaluation of the
property. Afterwards, you can then suggest the price that you are willing to pay for the
property, considering all additional costs involved in repair and maintenance.
Buying a foreclosed house and lot in Metro Manila and then selling it for a higher price can make you
some serious money. This is a great business opportunity if you do it right. You just need to follow
these tips to ensure a great investment.