Buying a second hand condo

[OTEP]

I'm not sure if there's been a topic like this already [tamad mag-search ].

I'd just like to ask if its possible to get a loan from major banks to acquire a second hand condo? Will it be practical? [unlike loans for used cars which are rarely practical]

Brand new condos have terms ranging from a year to 15 years. Do such terms exist for pre-owned units?

Thanks.

[Horsepower]

Probably. Inquire at BPI or Chinabank, often, they have the lowest interest rates.

[theveed]

Yes you can get a loan for it, actually, banks don't really look at it as 2nd hand or bnew, unlike a car... They just base it on the price assesment...

Terms are the same, but check on your PAGIBIG loan first, the rates are much more favorable...

[FullThrottle]

Yes. Apart from the other banks mentioned here, you can also try Metrobank. Why not get a new condo unit? Most developers today have tie-ups with banks and will actually help you secure your loan.

[mikeye]

palagay ko sir otep, try to consider getting a new condo. at least untouched pa yung unit. kasi baka pag second hand dami na sira (parang kotse ba), baka gumastos ka pa ng malaki for repairs.....best to get it at preselling para mababa p ayung price nya.

Caution lang po....make sure na what they would offer you will be exactly the same when you get it. (kung pwede nga lang i-video) - para may proof ka.

had a bad experience kasi, sabi nila may parking, yun pala wala not unless you also buy a parking slot, which usually ranges half the price of the condo unit na.

And getting a condo wont stop there, meron yang monthly dues from the condo association, siempre taxes din meron.

If you plan to loan the condo, get the loan sa bank!! huwag in house financing....papatayin ka sa interest lalo na sa first several years depending on how long you plan to pay your loan. In case in house financing kukunin mo then you decide to transfer it to the bank....may babayaran ka na namang dagdag (dont know what they call it)

Anyways, input ko lang ito......hope you do get a condo unit. Good Luck po.

[larshell]

BDO yata ang best deal in town sabi ng mga kaibigan na naka experience.

Saan lugar mo ba gusto bumili ng condo?
Meron kasi yon utol forsale w/ garage

[wranglerboy]

sir larshell san po ba ung location ng condo w/ parking ng utol mo? i'm currently looking in the area of quezon city...tnx