Acquired foreclosed property

Nakabili kami ng property from a broker ng isang foreclosed property ng metrobank. Nakapag-sign na kami ng deed of assignment para ma-process ng bank yung mga papers in my name.

The follwoing day, pumunta kami sa property to change the padlock, but the guard didn't allow us to go because somebody is inside the village, claiming he is the owner of the said property, nagwawala daw.

Kaya nagpunta kami sa barangay para makapasok kami, but the baranggay official asking for documents from us like the deed of sale, writ of execution at iba pa. Wala naman kaming mai-provide maliban sa certificate of full payment from bank dahil in process pa nga pati deed of sale.

Possible po b na makapasok ung claimant dun sa property?

Ano po ba gagawin namin para makapasok kami sa property and mapadlocked kasi fully paid na kami sa broker.

Ano po bng documents ang kailangan naming kunin sa bank para mapatunayan na kami ung nakabili sa property.

Nicegirl1022 wrote:Nakabili kami ng property from a broker ng isang foreclosed property ng metrobank. Nakapag-sign na kami ng deed of assignment para ma-process ng bank yung mga papers in my name.

The follwoing day, pumunta kami sa property to change the padlock, but the guard didn't allow us to go because somebody is inside the village, claiming he is the owner of the said property, nagwawala daw.

Kaya nagpunta kami sa barangay para makapasok kami, but the baranggay official asking for documents from us like the deed of sale, writ of execution at iba pa. Wala naman kaming mai-provide maliban sa certificate of full payment from bank dahil in process pa nga pati deed of sale.

Possible po b na makapasok ung claimant dun sa property?

Ano po ba gagawin namin para makapasok kami sa property and mapadlocked kasi fully paid na kami sa broker.

Ano po bng documents ang kailangan naming kunin sa bank para mapatunayan na kami ung nakabili sa property.

I suggest you don't change any locks yet until you have all the legal docs to say that u r now the rightful owner of the said property. DEED OF SALE is very important piece of evidence. After you get your copy of the notarised deed, process the transfer. The seller (bank) should have paid the capital gains. Go to the RD and start prossesing the transfer.

My other advise is to ask the bank of a copy of the demand letter to the previous owner demanding them to vacate the foreclosed property.

Also, check the status of the property from the bank before you actually pay, it should say there if the property is vacant, occupied or tenanted.
If the bank declared the property as vacant then the previous owner shouldn't be there. He is trespassing as it the banks possession already. Let the bank deal with it.

As for the meantime, wait for the deed to be excecuted, and get the title or the ownership transferred to your name.

Nicegirl1022 wrote:Nakabili kami ng property from a broker ng isang foreclosed property ng metrobank. Nakapag-sign na kami ng deed of assignment para ma-process ng bank yung mga papers in my name.

The follwoing day, pumunta kami sa property to change the padlock, but the guard didn't allow us to go because somebody is inside the village, claiming he is the owner of the said property, nagwawala daw.

Kaya nagpunta kami sa barangay para makapasok kami, but the baranggay official asking for documents from us like the deed of sale, writ of execution at iba pa. Wala naman kaming mai-provide maliban sa certificate of full payment from bank dahil in process pa nga pati deed of sale.

Possible po b na makapasok ung claimant dun sa property?

Ano po ba gagawin namin para makapasok kami sa property and mapadlocked kasi fully paid na kami sa broker.

Ano po bng documents ang kailangan naming kunin sa bank para mapatunayan na kami ung nakabili sa property.

I hope u r aware na Minsan masalimuot ang bumili ng mga ganyang foreclosed property specially if you don't really know the story behind the foreclosure. My mga Tao Kasing nahihirapang tumanggap ng katotohanan so di agad sila makapag let go. For example Kung nasanla ng Kung sino young property nya at too late an Nung malaman nya talagang magwawala yun. The trick is maging mahinahon kayo para do lalo lumala ang sitwasyon. Kunyari maki simpatya kayo sa previous owner, kasi nga na forclose na yung property nya, so para di sya mang gulo later, anyways wala na naman sya talagang karapatan.

Kung pasaway pa rin despite the truth, try to get restraining order.

The property was foreclosed by the bank in 2004, my existing tenant kaya inoffer ng bank ung property dun sa tenant para bilin. they have compromised agreement, the tenant paid the down payment and issued PDC for the subsequent amortization. All checks bounced, but the tenant wrote the bank for extensions, the bank tried to re-apply the deposit twice. but still hindi pa rin nakatupad ung tenant dun sa monthly amortization. the bank filed motion to execute the compromise agreement, still pending in court.

Nabili namin ung property na yun, nakabayad na kami sa broker nung malaman namin na may pending ngang case.

I don't know what to do, next? nasa amin na yung deed of sale..but the tenant is asking us the writ of execution, saan namin yun makukuha? paano namin ma-ooccupy ung property. what are the procedures we have to take?

Please help. Tnx....