And banks sell these properties to recover their money, usually on an “as-is, where-is” basis
Meaning no guarantees from the bank. If you encounter problems, bahala ka na. And the usual problems po ay ang pagpapaalis nung current occupants, delinquent taxes, pending cases, etc… The authenticity of the title itself, is the least of your problems na.
I’m not saying that it’s impossible to get a property without a problem, from the banks. But these are just the exceptional cases. Ang usual cases ay may problema talaga.
Nothing is readily safe. That’s why you have to do your own diligence. Or hire professionals to do the research for you.
But, even then, there is still the possibility of problems arising that are related to the title. Continue Reading