Wow. Sir napakalaking blessings po yan sa akin pg matulungan ninyo sa mga forclosure property,,para mabuhay ko ren po yon mga palaki kung anak sa tulong ninyo.maliit lang po ako negosyante,,pero sa mga loan sa bdo,afford nman ako nkaka updated ng bayad. Pangarap ko mkatulong sa ibang nangangailangan,marami salamat po
I know this interview recording feels incomplete because it was cut short. :-( To make up for it, let me know in the comments what you want me to cover next in upcoming videos. :-) By the way, sorry all my comments replies have disappeared after I changed my youtube channel from personal to brand channel (so I can assign people to help manage my channel). Anyway, I prepared for this by making a backup of all comments and I am manually restoring all comments for all videos. Please disregard new notifications for replies to your comments when I restore them. Thanks.
Hi Sir! Ive been watching your videos and im learning a lot, thanks for that! Ive so many questions for you. Maybe your company accepts consultation? Im interested to become an agent and buyer just like how u started.
Just subscribed po. Just a beginner here. For foreclosed properties po ba, I can only transact thru bank, right? Where can we see a list of foreclosed properties? Are there sites to look at?
Hi Jay! Let's say I buy a foreclosed property by installment, the main document that I will be holding on to until I pay in full is CTS right? What if I want to sell the property already? What documents should I present my prospective buyers?
Yes, the document/instrument you will have is a CTS. If you have a prospective buyer, one option is to show a copy of the CTS, just don't include the portion with the price, and mention it is confidential because this is your business and the cost is naturally for your eyes only, and then if your buyer wants, they can meet with you and the bank officers so they can confirm you are the legal owner of that property you bought through a CTS. Another option is to show a copy of your billing statement for the property which includes the balance. For me, I have done all of the above. :-)
sir we're about to attend public auction last March 19 2020 but it was postponed due to covid, can I ask when will be the next schedule for public auction? thank u
Hi Faith. For Pag-IBIG, still no schedules for their public auctions. So far only Unionbank has conducted an auction last June. By the way, regarding Pag-IBIG, they already resumed selling their foreclosed properties via negotiated sale. You can check out our compilation of the schedules for submission of offers at www.foreclosurephilippines.com/pag-ibig-foreclosed-properties-for-sale/
Sir Jay good morning.. ask ko lang po if sa bank po mag bili ng foreclosed property may discount din po ba tulad ng nasa kay pag ibig na.may 30% discount kapag cash .. thanks and more power... danny.
Hi Neil, I'll just paste the same answer I made for a previous comment: "During these challenging times, we need to be extra cautious, especially for locations which we are not familiar with. I'm still very optimistic with properties within projects from the big developers (Ayala, DMCI, SMDC, etc) because I'm confident these projects can get make it through. As long as the properties are properly managed (including safeguards related to the pandemic), I think it will be okay and these projects will not suffer any major drop in market values. For locations we are very familiar with (where we actually live), I would still be in the lookouut for any good deals that are worth the risk. Of course, we need to consider market preferences due to the pandemic (people might prefer single detached houses over condos and townhouses), I guess we need to wait and see. Although people might want to defer buying houses, everyone still needs a roof over their heads, so rentals should still be in demand. For commercial properties, with most businesses going towards online (except for those that provide essentials and are not affected that much), I believe everyone expects a dip in demand and market values/rental rates. Sorry for the long reply. :-)"
Hi James, kagaya po ng lagi kong sinasabi sa blog updates at emails, diretso na kayo sa bank/institution na nabebenta ng properties nila, hindi na kailangan dumaan samin dahil hindi na kami nag offer ng real estate brokerage services. Mas mabilis at direct napo usapan niyo with the bank/institutions na may bagong listahan. Para po mas maintindihan niyo, pakibasa na lang po pag may time kayo kung bakit: www.foreclosurephilippines.com/reasons-why-i-stopped-brokering-foreclosed-properties/
Can I inquire sir, I am doing my due diligence getting a certified true copy of title. about a forecloesd negotiated sale property listed in a govenment insurance, they have provided the title no. and the address.. but in registry of deeds in city hall, they require me the title's owner name as well.. upon requesting from government insurance, they said due to data privacy act of 2012, they cannot provide the name. so I am stuck doing my due diligence.. is there other way i can get the owner's name?
Hi Alex, yes, RD's request form really does require the name of the the registered owner. But shouldn't it be already under the name of the Government Insurance (GSIS ba yon?)? If it is still under the name of the former owner, will the Government Insurance agency transfer to their name first? Nagka-issue ako nuon sa isang foreclosed property na nabili ko na hindi pa nalipat yung titulo sa pangalan ng bank, halos two years ko hinintay na malipat, before ko pwedeng malipat yung title sakin. Anyway, going back to your question, I suggest going to the tax mapping section at the City treasurer's or assessor's office, and ask for the name of the owner based on the address. Tell them you need the info for your due diligence.
@Alex Reyes Yes, the title transfer process you mentioned is pretty much the same with what we do, except we always have the name of the former owner which I get with the traceback of the title. Yes, you should be able to withdraw your bid, but if you included a cash bond/reservation fee, it will get forfeited. Good luck sa first deal, I salute you for actually moving forward with a target property. balitaan niyo kami!
Hi Mar, malapit na, just updating because of the pandemic, thanks for asking! I suggest you subscribe to the waiting list para you can get notified by email when enrollment is open: courses.foreclosurephilippines.com/p/waiting-list/
Kung BFS, ang natira na lang ay halos puro occupied na lang kasi nga unang nabebenta yung walang occupant tapos wala nang nadadag na bago sa BFS. Yung mga walang occupant sa BDO, BPI, Bank of Commerce etc.
Wow. Sir napakalaking blessings po yan sa akin pg matulungan ninyo sa mga forclosure property,,para mabuhay ko ren po yon mga palaki kung anak sa tulong ninyo.maliit lang po ako negosyante,,pero sa mga loan sa bdo,afford nman ako nkaka updated ng bayad. Pangarap ko mkatulong sa ibang nangangailangan,marami salamat po
Robert Kiyosaki of the PH!
Thank you for translating his book about real estate business into the ph setting, sir Jay!
I know this interview recording feels incomplete because it was cut short. :-(
To make up for it, let me know in the comments what you want me to cover next in upcoming videos. :-)
By the way, sorry all my comments replies have disappeared after I changed my youtube channel from personal to brand channel (so I can assign people to help manage my channel). Anyway, I prepared for this by making a backup of all comments and I am manually restoring all comments for all videos. Please disregard new notifications for replies to your comments when I restore them. Thanks.
Hi Sir! Ive been watching your videos and im learning a lot, thanks for that! Ive so many questions for you. Maybe your company accepts consultation? Im interested to become an agent and buyer just like how u started.
Start small. Wise advice. Thank you Sir Jay.
You're welcome and thank you also Rodel!
I'm learning a lot! Very informative , thank you so much
You're welcome, thanks a lot for the feedback. Really appreciate it!
Just subscribed po. Just a beginner here. For foreclosed properties po ba, I can only transact thru bank, right? Where can we see a list of foreclosed properties? Are there sites to look at?
Hi sir jay, thank you sa mga infos about foreclosed properties. Do you have any free seminar for beginners? Thank you 😊
Hi Jay! Let's say I buy a foreclosed property by installment, the main document that I will be holding on to until I pay in full is CTS right? What if I want to sell the property already? What documents should I present my prospective buyers?
@@JayCastillo thank you very much sir Jay!
Yes, the document/instrument you will have is a CTS. If you have a prospective buyer, one option is to show a copy of the CTS, just don't include the portion with the price, and mention it is confidential because this is your business and the cost is naturally for your eyes only, and then if your buyer wants, they can meet with you and the bank officers so they can confirm you are the legal owner of that property you bought through a CTS. Another option is to show a copy of your billing statement for the property which includes the balance. For me, I have done all of the above. :-)
Thanks Sir Jay! Very informative indeed!:)
You're welcome and thank you too Irene, really appreciate your feedback!
sir we're about to attend public auction last March 19 2020 but it was postponed due to covid, can I ask when will be the next schedule for public auction? thank u
Hi Faith. For Pag-IBIG, still no schedules for their public auctions. So far only Unionbank has conducted an auction last June. By the way, regarding Pag-IBIG, they already resumed selling their foreclosed properties via negotiated sale. You can check out our compilation of the schedules for submission of offers at www.foreclosurephilippines.com/pag-ibig-foreclosed-properties-for-sale/
Thanks a lot, very informative.
You're welcome and thank you also for the feedback!
Yung transfer of title ang mahirap. Developer to PAGIBIG Then PAGIBIG To Buyer. Yan ang bagong rules ng BIR ngyn
THANKS SA INFO SIR..
You're welcome Raymart, thank you din!
sir jay my mga list kyo ng Chattel?
Sir ung mga foreclosed po sa bangko pede po ipasok ky PagIbig tnx po'
Do you do coaching for beginners?
Galing 👏👏👏
Hi Lester, nice to see you here!!!
Sir Jay good morning.. ask ko lang po if sa bank po mag bili ng foreclosed property may discount din po ba tulad ng nasa kay pag ibig na.may 30% discount kapag cash .. thanks and more power... danny.
Sir is it safe to buy real estate this time of pandemic?
Hi Neil, I'll just paste the same answer I made for a previous comment:
"During these challenging times, we need to be extra cautious, especially for locations which we are not familiar with.
I'm still very optimistic with properties within projects from the big developers (Ayala, DMCI, SMDC, etc) because I'm confident these projects can get make it through. As long as the properties are properly managed (including safeguards related to the pandemic), I think it will be okay and these projects will not suffer any major drop in market values.
For locations we are very familiar with (where we actually live), I would still be in the lookouut for any good deals that are worth the risk. Of course, we need to consider market preferences due to the pandemic (people might prefer single detached houses over condos and townhouses), I guess we need to wait and see.
Although people might want to defer buying houses, everyone still needs a roof over their heads, so rentals should still be in demand.
For commercial properties, with most businesses going towards online (except for those that provide essentials and are not affected that much), I believe everyone expects a dip in demand and market values/rental rates.
Sorry for the long reply. :-)"
LAGI AKONG NAKATANGAP NG EMAIL MO, PERO DIKO PARIN MAINTINDIHAN KUNG SAAN BA PWDI MAG TUNGO ANG ISANG BUYER? SAYO BA,? O SA PAG IBIG BA? O BANKO BA?
Hi James, kagaya po ng lagi kong sinasabi sa blog updates at emails, diretso na kayo sa bank/institution na nabebenta ng properties nila, hindi na kailangan dumaan samin dahil hindi na kami nag offer ng real estate brokerage services. Mas mabilis at direct napo usapan niyo with the bank/institutions na may bagong listahan. Para po mas maintindihan niyo, pakibasa na lang po pag may time kayo kung bakit: www.foreclosurephilippines.com/reasons-why-i-stopped-brokering-foreclosed-properties/
Anu ibig sabihin pag s Award Aquard Ases Award naka post ang bahay
Can I inquire sir, I am doing my due diligence getting a certified true copy of title. about a forecloesd negotiated sale property listed in a govenment insurance, they have provided the title no. and the address.. but in registry of deeds in city hall, they require me the title's owner name as well..
upon requesting from government insurance, they said due to data privacy act of 2012, they cannot provide the name. so I am stuck doing my due diligence.. is there other way i can get the owner's name?
@@JayCastillo I guess your issue came from that agency? no sir from ℗ d ! ©.. title's name.. they won't tell.. kaya I really need to get records from city hall
regarding sa paglipat.. they did told me the process on transferring it to my name..
They will produce the Deed of Sale. then go to BIR to pay for all the taxes, registration and transfer fees. Once the Certificate of Authorizing Registration is available, buyer will proceed to Registry of Deeds (ROD). is this more or less the same process you did as well?
Ok sir thanks I will try on the tax mapping section.. this is.. a different office from the assessor right? as, in the assessor's office, I asked for records about the title no. (w/out name again) and they told me to get an SPA first before they do anything (which again the insurance told me they won't produce) so really helpful with the tax mapping section.. hope I can get it.. worse case.. w/out knowing the title name.. can i specify the insurance?
by the way, my bid have already been acknowledged when I haven't even seen the title so yup. just expect the worse like w/ annotation :( so another question is can I withdraw my bid?
I actually have one risk I am taking which you mentioned .. to walk away from.. my inexperience with foreclosure is showing :)
Hi Alex, yes, RD's request form really does require the name of the the registered owner. But shouldn't it be already under the name of the Government Insurance (GSIS ba yon?)? If it is still under the name of the former owner, will the Government Insurance agency transfer to their name first? Nagka-issue ako nuon sa isang foreclosed property na nabili ko na hindi pa nalipat yung titulo sa pangalan ng bank, halos two years ko hinintay na malipat, before ko pwedeng malipat yung title sakin.
Anyway, going back to your question, I suggest going to the tax mapping section at the City treasurer's or assessor's office, and ask for the name of the owner based on the address. Tell them you need the info for your due diligence.
@Alex Reyes Yes, the title transfer process you mentioned is pretty much the same with what we do, except we always have the name of the former owner which I get with the traceback of the title.
Yes, you should be able to withdraw your bid, but if you included a cash bond/reservation fee, it will get forfeited. Good luck sa first deal, I salute you for actually moving forward with a target property. balitaan niyo kami!
Sir donu have now online study for foreclose
@@JayCastillo ok cge sir.. ito ba ung link
Hi Mar, malapit na, just updating because of the pandemic, thanks for asking! I suggest you subscribe to the waiting list para you can get notified by email when enrollment is open: courses.foreclosurephilippines.com/p/waiting-list/
@@marb9200 Yup, yan yung link to subscribe to the waiting list. Thanks!
lahat yata occupied sir yung nakalagay sa foreclosed properties nyo
Kung BFS, ang natira na lang ay halos puro occupied na lang kasi nga unang nabebenta yung walang occupant tapos wala nang nadadag na bago sa BFS. Yung mga walang occupant sa BDO, BPI, Bank of Commerce etc.
The host's questions doesn't make sense. Quite dumb.
Hi Lea, I guess it's because a big portion of the interview was not included in the recording/replay, medyo nawalan ng context. :-(