How to Buy Foreclosed Properties in the Philippines [Complete Guide]

Last Updated – Oct 9, 2023 @ 4:20 am

Quick Take

How to get started in buying foreclosed properties in the Philippines?

In the Philippines, there are two ways you can buy foreclosed properties.
First is the DIY method where you find foreclosed properties for sale in banks or government institutions. If interested, contact the institution or bank to inquire and make an offer on the property you want to purchase.
If you want to buy foreclosed properties the easy way, hire a broker. Brokers get access to listings and property auctions so this professional will guide you to make the right purchase.

A lot of people think real estate investing is only for the rich, but you’ll be surprised to know how much you can save from buying foreclosed properties in the Philippines.

When you talk to experienced real estate investors, they will tell you that foreclosed properties offer amazing value for money if you know where to look.

However, making this purchase is entirely different from buying a property from a private seller, and there are certain things you must consider so you can make the most out of your money.

Ready to know more about how to buy foreclosed properties in the Philippines? Keep on reading.

What are Foreclosed Properties?

Foreclosed properties are properties that are owned by a bank, government, or other institutions.

Most titular owners of foreclosed properties took out a loan but ended up not paying the money back.

Because of this, the financial institution has all the legal means to take over the ownership of the property and sell it to consumers. Foreclosed properties can also happen when a mortgage borrower doesn’t pay the local government’s mandated tax.

Because there are so many foreclosed properties that are on the market today, the value of these properties tends to drop.

Many of these properties are usually in dilapidated conditions or are not exactly well-maintained. However, it is still possible to get a foreclosed property that is still in good condition.

Pros & Cons of Buying Foreclosed Properties in the Philippines

Buying foreclosed properties in the Philippines is an awesome idea because it allows you to receive a good deal on house and lots, condominium units, commercial/industrial buildings, and even vacant lots.

But like everything else, there are many things to consider before you make a purchase. Here are the advantages and disadvantages of buying foreclosed properties.


More affordable

Buying foreclosed properties is an affordable way to acquire real estate. This means you can get a way better deal than buying a property from a private seller.

Buyers have more negotiating power

When you buy a foreclosed property, you have more negotiating power. This means you can negotiate a lower price than what the seller is asking and end up saving more money.

Quick title transfer

When you purchase foreclosed properties, you will be able to receive a quick title transfer since most properties have no pending court cases that you need to settle.

In foreclosures, you can also trust the banks of government that the transaction is legitimate.

Instead of waiting for several months, the title will be transferred in less than a month, and you can proceed to do whatever you want to the property.

Updated utilities and taxes

When you buy foreclosed properties, the utilities and taxes are usually already paid for. This means you do not have to worry about this added expense.

Can be a great investment

Buying foreclosed properties can be a great investment because when the properties begin to rise in value, you can sell them for an even greater price than what you bought them for.

You also have the choice to renovate the property and sell it for a higher price or rent it out.


You may not be able to inspect it before buying

Before you make a purchase, it is always a good idea to inspect the property first. Unfortunately, this isn’t always possible when buying foreclosed properties.

Most properties are sold on an as-is basis so you may not have a chance to see it for yourself or get a professional to inspect the property before you submit your bid.

Titles may come with liabilities

When you buy a foreclosed property, it may come with liabilities. For example, there may be informal settlers there, or the previous owner may refuse to vacate.

It may need a lot of repairs

Foreclosed properties are not guaranteed to be in good condition.

When the previous owner is unable to handle the upkeep of the property, this may bring about certain issues you have to deal with after your purchase.

The market is competitive

When you buy foreclosed properties, expect to compete with other people interested in purchasing the same property.

This can be a disadvantage because you may end up paying too much for the property.

It can get expensive

Buying foreclosed properties can become expensive if you are not careful.

Moreover, this is a purchase that you will have to budget for especially if you are buying a property that is already in bad condition.

Where to Find Foreclosed Properties in the Philippines [Complete List]

Wondering where to buy foreclosed properties in the Philippines? Check out this list below.

1. Pag-IBIG Acquired Assets

Pag-ibig offers various foreclosed properties to suit different needs and budgets. Offer to Bid or Offer to Purchase can be submitted through Mr. Speedy, Tiktok, Grab Express, and Lalamove.

Contact details:

  • 8-654-1398
  • 8-654-1032

2. BDO Properties For Sale

This is one of the leading banks in the country, and they offer not only foreclosed properties but also repossessed cars.

Once you identify the properties you are interested in from their list, you can contact BDO directly to get more details about the property.

Contact details:

  • Metro Manila: (02) 631–8000
  • Domestic Toll-Free: 1800–10–631–8000 (PLDT)

3. BSP Properties for Negotiated Sale

The Bangko Sentral ng Pilipinas offers foreclosed properties with huge discounts ranging from 5% to 30% on selected properties.

If you need a complete description of the property you’re interested in, simply visit the Asset Management Department at Rm. 211, 2nd Floor, Five-Storey Bldg., or call BSP.

Contact details:

  • 5306–3417
  • 5306–2911
  • 5306–2912
  • 5306–3415
  • Email:

4. SSS Acquired Assets

SSS offers two kinds of foreclosed properties on their website namely, Housing Acquired Assets and Residential Lots for Sale.

Contact details:

  • SSS Hotline: 1455
  • Toll-Free No.: 1–800–10–2255777
  • Email:

5. Landbank Foreclosed Properties

Landbank also has various foreclosed properties for sale. You can access these properties on their page, as well as the bidding form you need to fill up.

Contact details:

  • Hotline: (+632) 8–405–7000
  • Domestic Toll-Free: 1–800–10–405–7000

6. Security Bank Repossessed Assets

Security Bank organizes all its foreclosed properties per region. You can also filter the properties based on their price.

Contact details:

  • Contact person: Ranilo Nadonza
    • (632) 888–7352
    • 09189068380
    • Email:
  • Contact person: Chrisline Balute
    • (632) 867–6788 local 8995
    • 09985825800
    • Email:

7. PNB Foreclosed Properties

PNB offers foreclosed properties all over the Philippines. If you’re interested in purchasing any of the properties listed by PNB, simply visit your nearest PNB branch and ask for detailed instructions on how to proceed with the purchase.

Contact details:

  • (02) 8573 8888
  • Email:

8. Metrobank Assets For Sale

Take a look at the list of properties by Metrobank and narrow down your search using the advanced filter options.

Contact details:

  • Metro Manila: (02) 88–700–700
  • Domestic Toll-Free: 1 800 1888 5775

9. PSBank Foreclosed Properties

With PSBank, you can view all properties for sale, and see ones that are for sale with special prices.

Contact details:

  • (02) 8573 8888
  • Email:

10. RCBC Properties For Sale

The list of RCBC properties can be viewed in PDF format. If you’re interested in any of their foreclosed properties, simply visit the branch in your area or call the number listed below.

Contact details:

  • 0918–9929605, look for Elma Silvestre
  • Email:

11. UCPB RFO (ready-for-occupancy) Properties For Sale

Most foreclosed properties of UCPB are ready for occupancy. Simply access the link below to see the list of properties you can purchase.

Contact details:

  • (+632) 8811–9111
  • Email:

12. EastWest Bank Pre-owned Properties For Sale

Check out this list below to see the various EastWest foreclosed properties for sale. You can also access the Offer to Buy Form, Brokers Accreditation Form, and Customer Info Sheet on their page.

Contact details:

  • 0999–8857830
  • Email:

13. China Bank Acquired Assets For Sale

Take a look at the list of China Bank Foreclosed Properties below, including real estate and vehicles. You can also narrow down your search based on location.

Contact details:

  • +632 888–55–888

14. Unionbank Foreclosed Properties

Unionbank offers an in-depth look at their foreclosed properties complete with pictures. The properties can be narrowed down based on type (agriculture, residential, industrial, and commercial), as well as location, minimum bid price, and size.

Contact details:

  • Metro Manila: (+632) 8841–8600
  • Domestic Toll-Free: 1–800–1888–2277
  • Email:

15. Robinsons Bank Acquired Assets

Robinsons Bank offers foreclosed condominiums, house and lots, and vacant lots on their website.

Contact details:

  • (+632) 8637-CARE (2273)
  • Toll-free number: 1–800–10–8637-CARE (2273)
  • Email:

16. Maybank Properties For Sale

To access the list of Maybank’s latest foreclosed properties, simply click the drop-down menu on the page listed below.

This page also contains downloadable Offer to Buy forms, Buyer Information Sheets, and Broker’s Information Sheets. Additionally, this page also contains lists of different cars for sale (organized by place).

Contact details:

  • (02) 8588–3761
  • (02) 7739–1654
  • (02) 8588–3859
  • Email:

17. DBP Properties For Sale

You can access the different properties for sale by the Development Bank of the Philippines (DBP) at the link below. Broker accreditation information and negotiated offer forms can also be accessed on the same page.

Contact details:

  • (02) 708–7087
  • Email:

18. GSIS Acquired Assets

GSIS offers various links on their website namely Assets Retail for Sale, Big Ticket Assets for Lease, and Retail for Lease with Option to Buy. The required forms for buyers are also readily downloadable.

Contact details:

  • Metro Manila/International: 8–847–4747
  • Globe & TM: 1–800–8–8474747
  • Smart, TNT & Sun: 1–800–10–8474747
  • Email:

19. Lamudi Foreclosures

Lamudi is one of the leading real estate partners in the country. You can access almost 1,700 foreclosed properties for sale on their website which can easily be narrowed down based on your preference. If you see a property you’re interested in, simply click “contact agent.”

Contact details:

  • Email:

How to Buy Foreclosed Properties in the Philippines

So you want to know how to buy foreclosed properties in the Philippines? Here are the steps to do so.

Method 1: DIY

Step 1: First, you must find a list of foreclosed properties that are currently for sale. This is available in any of the banks or government institutions listed above.

Step 2: Next, you must contact your institution/bank of choice to inquire about the foreclosed property you’re interested in buying.

Step 3: Ask if you can view the property before you submit an offer. Keep in mind that just because you made an offer does not mean there’s a 100% guarantee the property will be yours. This is the case especially if there are higher offers than yours.

Method 2: Hire a Broker

Too busy to handle the process? You can hire a real estate agent or broker to do the work for you.

Having this professional by your side will make the process more seamless since real-estate agents have immediate access to listings and property auctions. They also know the tricks of the trade to ensure you get the best value for your money.

Things to Consider When Buying Foreclosed Properties in the Philippines

When you decide to buy a foreclosed property, you should be prepared for the following.


When buying a foreclosed property, you have to make sure that the property is in a good location. Ideally, you should be buying the property near schools or malls.

It is also a good idea to assess the safety of the area especially if you want to live in the property or sell it in the future. Finally, try to see if the area is prone to natural calamities.

Condition of the property

If you really want to make a profit from this purchase, you must do your research and see if the property you are interested in buying is in good condition. Foreclosed properties in good condition will be less likely to depreciate in value.

If you can access the property, it is recommended to invest in a home inspection service. This will help you determine the current condition of the property. 

Moreover, professionals will let you know if you need to worry about major damages such as foundation cracks, plumbing issues, roof leaks, and other exterior damage that you need to take care of.

You can also expect this professional to help you assess how much you need to prepare to pay for all the repair and maintenance fees.

Additional costs

You may have to pay additional costs if you’re buying a foreclosed property. This includes, but is not limited to:

  • Real property taxes
  • Association dues
  • Taxes and transfer fees
  • Documentary tax

Tips for Buying Foreclosed Properties In The Philippines

To get more bang for your buck when buying foreclosed properties, keep these things in mind.

Don’t rush the process

It takes time to find great properties. Most people get lucky after a week of searching, but sometimes, it takes months to see a property that’s worth your money.

If you rush, you may end up getting a property that does not have enough potential.

Attend auctions

An auction is a great way to find foreclosed properties that are in great condition. If you don’t know where to start looking, then you may want to attend this activity. 

First-time foreclosed property buyers are also recommended to attend auctions so they can have an idea on the average bidding amount of competitors.

Inspect the property if possible

Most banks and institutions allow you to view foreclosed properties before you make an offer. Take advantage of this to ensure you won’t be blowing up your budget in repairs.

Be proactive in communicating

If you want to get the best deal when buying foreclosed properties, you need to be proactive in communicating with banks, financial institutions, and your agent or broker.

If you have questions, do not be afraid to ask. 

Buy at the right time

Buying foreclosed properties is a major purchase so do it at the right time. This is important especially if you’re buying an expensive property.

For example, buying after the pandemic is a good thing because a lot of titular owners were forced to give up good properties since they couldn’t be consistent with payments and dues.

Therefore, you can expect to get a good deal.

Always do your research

Before buying a foreclosed property, always do your research, especially when it comes to the pros and cons of buying foreclosed properties.

This will help you know if you can handle the stress and duties that come with it.

Consider your financing options

Get your finances in order before you decide to purchase a foreclosed property.

For instance, you can get pre-approved for a loan, or borrow money from a family member or friend.

Have available cash

When buying foreclosed properties, it is recommended to have your cash available. This way, you can immediately deposit the money to make the purchase right away.

Know the risks involved

You have to know what you’re getting into when investing in a foreclosed property since it involves many risks.

For example, you may need to spend millions in renovating the property only for it to end up not getting sold or rented.

If this happens, there’s no way you can recover your investment.

Hire an accredited real estate agent or broker

Get a real estate agent or broker to assist you in buying foreclosed properties especially if it’s your first time.

These professionals can help you take advantage of available properties at low prices, and they can also help negotiate the best deal for you.

If you don’t know any real estate agents or brokers, ask your family and friends for recommendations.

Know your budget

You have to know how much you’re willing to pay for your foreclosed property.

Aside from the purchase price, do not forget to consider the costs for repair, transfer of titles, association fees, and many more. The last thing you want is to end up spending more than what you can afford.

Manage your expectations

Before you buy a foreclosed property, always have realistic expectations of what you’re investing in so you won’t end up being disappointed.

For instance, if your budget is limited, do not expect to find a brand new house that you can sell, rent out, or live in straight away.

Have a clear vision

You should always keep your long-term vision for the foreclosed property in mind. Do you want to wait for its value to increase before selling it?

Do you prefer to renovate it then sell it for a higher price? Or are you planning to rent it out?

Think about your offer price

Most banks and institutions follow a bidding scheme for foreclosed properties. Your initial bid should be at least comparable to the bank’s asking price.

This will ensure that your offer will be considered.

Foreclosed Properties FAQs

Still got questions on foreclosed properties? We’ll answer them below.

How do I finance the purchase of a foreclosed property?

There are different ways to finance the purchase of a foreclosed property, depending on your financial situation and preferences.

One option is to pay in cash if you have the funds available. This can sometimes give you leverage in negotiations and help you avoid higher interest rates associated with loans.

If paying in cash is not an option, you can consider getting a bank loan.

How much money can I save by buying a foreclosed property in the Philippines?

The amount of money you can save by buying a foreclosed property in the Philippines varies depending on the property’s location, condition, and market value.

Generally, foreclosed properties are sold at a discount compared to market value, which can save you a significant amount of money.

However, you may need to invest in repairs or renovations, which can add to the overall cost.

Can I negotiate the price of a foreclosed property?

Yes, you can negotiate the price of a foreclosed property. This is a common practice when purchasing foreclosed properties.

How long does it take to purchase a foreclosed property?

The time it takes to purchase a foreclosed property can vary depending on the circumstances.

If you purchase a property through a bank or government institution, the process can take several weeks to several months as you go through the paperwork and legal procedures.

If you hire a broker, the process can be faster as they will be able to guide you through the process and handle most of the paperwork.

The timeline can also be affected by other factors such as the property’s condition, location, and any legal issues that need to be resolved.

What are some common mistakes to avoid when buying a foreclosed property? 

One of the most common mistakes you should avoid is not having the funds ready before making an offer on a foreclosed property. This can lead to delays and even result in losing the opportunity to purchase the property.

Another mistake to avoid is not conducting a thorough inspection of the property before buying it.

Can I live in a foreclosed property after purchasing it? 

Yes, you can live in a foreclosed property after purchasing it. You may need to do some renovations or repairs before moving in, depending on the condition of the property.

If the property is still occupied by the previous owner or tenants, you may need to go through legal processes to have them vacate the property.

What are the tax implications of buying a foreclosed property?

Prepare to settle transfer taxes, registration fees, and other taxes and fees associated with the purchase.

It’s important to consult with a tax professional to fully understand the tax implications of buying a foreclosed property and to ensure that you comply with all applicable tax laws.

Disclaimer: All information listed in this article is for information purposes only. Although utmost effort was made to ensure accuracy of information on this website, readers must not solely rely on it in making any investment or financial decision since it does not take into consideration the risk tolerance, financial situation, investment goals, and experience of readers. It is best to consult a professional financial planner or your bank before investing to make a more informed choice and limit your risk exposure.

About MJ de Castro

MJ de Castro is the lead personal finance columnist at Grit PH.

MJ started her career as a writer for her local government’s City Information Office. Later on, she became a news anchor on PTV Davao del Norte.

Wanting to break free from the shackles of her 9-to-5 career to live by the beach, she pursued remote work. Over the years, she has developed a wide specialization on health, financial literacy, entrepreneurship, branding, and travel.

Now, she juggles writing professionally, her business centering on women’s menstrual health, and surfing.

Education: Ateneo de Davao University (AB Mass Communication)
Focus: Personal Finance, Personal Development, Entrepreneurship, & Marketing

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