pre selling real estate
pre selling real estate If you are an aspiring home buyer who is actively searching for properties for sale in listing websites, or if you are actively on the rounds attending open houses, you have probably encountered the word preselling at some point. What is a preselling property and what are its advantages?
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Why Philippine Pre-Selling Properties Have An Advantage…
Perhaps some of you property buyers and investors are asking… Why are Philippine Pre-Selling Properties better than the rest, like secondary properties or foreclosed properties? Here’s why:
Philippine Pre-Selling Properties usually have a NO DOWNPAYMENT and NO LUMPSUM payment term, meaning you just have to shell out about P8,000 plus a month, and you can already own a quality 20sqm studio!
A Philippine Pre-Selling Property usually appreciates as time goes by and as the construction gets nearer and nearer to its completion time, by as much as 100% or DOUBLE (no kidding!)
Even though many Philippine Pre-Selling Properties are delayed in construction by about 3 months or so, the profit you will gain by the sheer appreciation of the property will cover for that minimum time loss!
You just have to learn to select a QUALITY developer who has the LEAST number of delayed projects, as evidenced by their history of projects made
(HINT: Many pre-selling properties have delays in construction because of its usually the Contractor’s fault, not the developer)
These advantages are already good enough for you to invest your hard-earned money into a Philippine Pre-Selling Property, aren’t they? 🙂
pre selling real estate How to Choose: PRE-SELLING vs FORECLOSED vs SECONDARY PROPERTIES
When one wants to invest in a Philippine Property, (or any property for that matter), the careful buyer will always find three types of properties to choose from by canvassing around: Pre-selling, Foreclosed, and Secondary Properties.
Given a budget to work with, whether it’s a million-peso figure and/or a monthly budget based on your income, how will you know which of the three suits you best?
Aside from the location of the property itself which of course is crucial to you depending on where you live and work, allow me to give you this chart below so you will know what to expect on each of the three: (All Caps means an ADVANTAGE)
|Usually Plenty of repairs|
to be done
|May have minimal or many|
|Availability of Use||1 to 5 years, depending on|
type of property and developer reputation
|After Repairs (unless it|
needs none which is very very rare)
|MOST READY due to minimal|
|Price per Sqm||Lower than Units Ready for|
|LOWEST and CHEAPEST||Brand New = Expensive. Older|
|Payment Terms||BEST – Very flexible|
depending on buyer’s capabilities = Either High down and Low
Monthly, or Low Down High Monthly (sometimes even NO DOWN)
|Good = Usually 10 –|
20 % down and the rest of the balance in bank loan for Monthly’s
= Low Down, High Monthly’s
|Mostly Cash or Bank Loan|
of 50 to 70%, which means Down of 30 – 50% = High Down, Lower
|Best Traits||BRAND NEW, BEST TERMS||CHEAPEST, can do RENT-TO-OWN||READINESS for USE|
|Worst Traits||Have to Wait before using|
|Tons of Repairs, time needed||Sometimes Expensive, rigidness|
of Payment Terms
I believe this chart speaks for itself and is very very helpful especially to the newcomers in the Real Estate Philippines Industry.
Now you know what you getting into when it comes to real estate investing. Feel free to bookmark this link for your continued reference and give it out to your friends and relatives who are looking for a property, whether for their own use of for investment.
Now, if a Philippine Pre-Selling property suits you the best, check our Camella homes pagadian city courtyards
If you are looking for a Foreclosed Philippine Property, you can check the banks for their listings by going there at their branches, looking at the newspapers, calling them up, or checking their websites.
And lastly, if you are looking for a Secondary Property, you may look at the classified ads (especially the Manila Bulletin), check the internet, or ask your Philippine Real Estate Brokers and friends who may have such up for sale.
Happy Property Hunting to all!
pre selling real estate people ask
What is pre selling in real estate?
In real estate, a pre-selling condo is a condo being sold before its completion, during its construction, or while still in the planning stages. These mean that the property still does not exist and the developer is yet to break ground for the project.