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jaybee747

Counter offer when buying a condo in Cebu

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Headshot
Posted (edited)
4 hours ago, seanm said:

One can search olx and get a decent idea. I just typed "condo" and "ayala" and set the location to Cebu

https://www.olx.ph/ph-ceb/real-estate/real-estate-for-sale?q=condo+ayala&locationName=&order=filter_float_price:asc

OLX, Cebu Classifieds and other similar online platforms will tell you what people THINK their properties are worth, but they won't tell you how much they actually sell for. There is no substitute for an MLS, which is why the real estate market in the Philippines is so chaotic.

Edited by Headshot

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Davaoeno

check out the BIR zonal value for that property for a ball park figure    [ careful- sometimes its very low and sometimes its very high ]

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seanm
7 hours ago, Headshot said:

OLX, Cebu Classifieds and other similar online platforms will tell you what people THINK their properties are worth, but they won't tell you how much they actually sell for. There is no substitute for an MLS, which is why the real estate market in the Philippines is so chaotic.

You are correct!

Another way, I guess, of getting a decent idea of the value would be to search the foreclosure listings on the various bank websites (there are many many foreclosed properties)

Granted that is not 100% either (given these are bank valuations and many of these properties are occupied/have issues), but if you combine that with olx you should, hopefully, be able to get in the ballpark to give an offer....
 

 

 

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