The pandemic hits several businesses that results in loss of livelihood of many Filipinos that lead to thousands of properties including condominiums, vehicles, houses and lots that are being floated in the market and open for sale on an assumed balance or Pasalo.
According to PASALO PH Services, the Pasalo or “Assume Balance” is a way of purchasing or acquiring properties through the direct owner’s balances at the negotiated price with a win-win situation between the buyer and seller for various reasons.
This method known as ‘loan assumption’ or assume balance is like bearing someone else’s debt. A home for instance is sold in the middle of the loan period wherein the buyer takes over the auto loan and pays the balance to the bank based on the agreed repayment schedule. Usually, the percent of the amortization is much lower than the traditional down payment for financing.
Now let’s find out the benefits of getting Assume Balance or Pasalo services.
Buyers Advantage
As commodity depreciates its value over time many properties including homes under assumed balance have a lower price than its market value. This gives an opportunity to get a property that has flexible pricing as sellers want to get rid of their property as soon as possible to avoid bad credit status. For instance, the money that was saved or acquired by using an assumed balance or Pasalo can be used for the renovation of the new property of your dream home or even sell it for a higher profit.
For example, a home’s evaluation is at P10 million but it has an outstanding mortgage balance of P3 million. For as long as the buyer agrees to pay the P3 million debt to the creditor whether it’s next few months or years, you may be able to get the rest of the balance even just a million pesos depending on the negotiation with Pasalo PH Services.
Homeowners Advantage
Sellers or Homeowners can get a benefit from this scheme too as this avoids the hassle and embarrassment of a foreclosure of the property while recovering their investments at the same time. This helps them during financial struggle whenever they are unable to pay the current mortgage and need immediate cash. It means through ‘Pasalo’ a person can be free of debt from the commitment while still pooling their money.
As Pasalo PH Services said, with every purchase comes a risk. It is important to approach it with caution to prevent headaches in the future. It is important that you examine the contact’s terms and conditions to protect you from any possible threat and serious problem.
Where to look for “Pasalo Homes”?
There is no centralized marketplace for Pasalo homes, usually it’s a word of mouth of your family, friends or even colleagues.
However, getting an online platform or company that caters this kind of transaction gives you more confidence with the properties that you’re interested to get such as Pasalo PH Services on Facebook that gives more options to PASALO a property or find a house and lot for sale and condo with a great deal.