I won in bidding..
Hi! I have a question and would really appreciate hearing from anyone who has experienced something similar.
I recently bid on a low-rise condo unit, and I found out that the previous owner has ₱300k+ in outstanding condo dues. The admin advised me to visit Pag-IBIG to ask if they would shoulder or waive the balance.
I went to a Pag-IBIG branch, and they said they would need to check first because they acquired the property as an asset back in 2022. Apparently, they weren’t aware that the condo dues continued to accumulate even after they acquired the property.
They also told me there’s a possibility that Pag-IBIG may cover a portion of the outstanding dues, but they can’t guarantee that the entire ₱300k+ will be waived. They suggested that I could also talk to the condo admin and, if there’s still a remaining balance, possibly negotiate a payment arrangement or installment.
For those who have experienced buying a Pag-IBIG foreclosed condo with large outstanding condo dues, is this normally how it works? Do they usually waive only part of the dues, or is there a chance that the entire balance can be waived?
Would really appreciate any advice or personal experiences. Thank you!