Menu

Skip to content
  • About|
  • Submit a Guest Post|
  • Sponsor this Blog|
    • Disclosure Policy|
  • Recommended Products|
    • Store|
  • Contact|
  • Login|

Riches Corner |Tech and Money TalkRiches Corner |Tech and Money Talk

Saving, investing and making money with technology.

Secondary menu

Skip to content
  • Personal Finance|
    • Saving|
    • Investing|
    • Employment|
    • Career|
    • Entrepreneurship|
  • Business and Technology|
    • ecommerce|
    • Make Money Online|
    • blogging|
    • Getting Traffic|
    • Social Media|
    • SEO|
  • In the News|
    • Economy|
    • Tech News|
  • Lifestyle|
    • Audiobooks|
    • Gadgets and Gizmos|
    • Education|
  • Store|
You are here: Home / Real Estate 101: A Buyer’s Guide to Pre-Selling VS RFO Units

Real Estate 101: A Buyer’s Guide to Pre-Selling VS RFO Units

Published on January 17, 2018 by janicejaramillo89
Share this...
Share on Facebook
Facebook
Email this to someone
email
Share on Google+
Google+
Share on Reddit
Reddit
Share on Tumblr
Tumblr
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin

“The art of selling one house is different than the science of repeating it flawlessly over and over” –Chantel Ray

Today, the prospective homeowner is not without limitless housing options, In fact, he or she can find a myriad of options presented to them that finding an elusive deal such as the cheapest house and lot for sale in the Philippines is now easier than ever. It has been no secret that real estate in the Philippines is thriving and this much is evident with the condominium and housing developments being peppered all over the city. Along with these developments come enticing deals and competitive rates and promos which seem incredibly attractive to both buyers and investors. However, as a buyer it is your responsibility to have a sound judgment and know which property would suit you best. In this regard, the property you choose should be able to tailor your needs—whether that may be pre-selling properties or ready-for-occupancy (RFO for brevity) ones.

However, how do you determine which kind of property you need? Well, for starters a RFO property is one that is already completed and just like its designation, is ready for occupancy anytime you wish (so long as the homeowner has sufficiently accomplished all the necessary paperwork required). A pre-selling property on the other hand, is a property sold even before it would be turned over to the new owner. Future owners can buy it at different phases of its progress such as during its construction, before completion or even before its groundbreaking. But, which ones of these two properties would suit you better? Well, perhaps taking a gander at the pro’s and cons  of each will help you arrive at a decision.

PRE-SELLING PROPERTIES

Pros

  • As the condominium development is unoccupied, you have a better selection when it comes to premier locations and units. In this regard, you would be able to choose which floor you want your unit on, its distance from certain condominium amenities and how far it would be from the parking area. Furthermore, all the facilities of the property would be brand new the moment you move in.
  • In order to complete the project on time (as well as entice more buyers to sign a contract with them), it has been a common practice among developers to boost their sales by significantly reducing prices during the pre-selling stage. Flexible payment schemes, waived reservation fees and the like are all things that a buyer can look forward to.

Cons

  • As you are buying a property that is still being essentially built, you cannot occupy it even if you pay it in full. However, do not fret as the wait is not that long (Developers have their own timelines to catchup with as well). If you need to make the move immediately, then perhaps a pre-selling property is not for you.

READY-FOR-OCCUPANCY PROPERTY

Pros

  • As the name heavily implies, the property you purchase is ready for occupancy so long as you sufficiently accomplish the paperwork required and defray all the essential expenses needed.
  • RFO properties roughly translate to “what you see is what you get”. You do nothave to worry about hidden surprises or speculations seeing as you have full access to the property even before moving in. If you are wary and skeptical, you can simply check the unit out and make an inspection before moving in or signing any papers.

Cons

  • RFO properties are exorbitantly priced in comparison to those that were sold during their pre-selling stage as homeowners can immediately occupy it after payment. Price appreciation might vary depending on how many units are sold, how many are left and how popular units are.
  • You are constrained to choose those units which are still unsold which makes it a bit of a challenge if you are pretty bent on a certain type of condo unit. Furthermore, your choices might even be limited to the “bad” leftovers (units that have specific downsides such as near a perimeter wall, bad feng shui, etc.)

Related posts:

  1. Real Estate Investment: Five Wrong Reasons to Buy a Condo
  2. Top 4 Questions to Ask Before Investing in a Real Estate Property
  3. Investment 101: Reasons Why Real Estate is The Superior Investment
  4. American Trainco real world training for real world needs
  5. Is real estate really more complicated than investing in stocks and bonds?
Posted in Investing, Uncategorized | Tagged investment, real estate

Did You Enjoy This Article? Subscribe to our RSS Feed!

If you enjoyed this content, you can get automatic updates by subscribing to our RSS Feed. For those of you familiar with RSS you can follow Riches Corner via our RSS feed. Simply enter your email below and you’ll get one daily email notification of the posts published on Riches Corner that day.

Enter your email address:

Delivered by FeedBurner

Article written by janicejaramillo89

Janice Jaramillo is a twenty something who loves to write. She also loves photography and travel .

Post navigation

← Looking To Pay-Off Your Credit Card Debt? Use These Ways 4 Things to Understand About Single Sign-On →

Leave a Reply Click here to cancel reply.

Follow and Share

Advertise with Us

Advertise

  • Audible Picks

    • How to Write a Good LinkedIn Summary
      LinkedIn is the most reputable social media network for professionals nowadays. Anybody looking for a job with major worldwide players (or even small-sized companies) should have a profile there. The thing is that their
    • Get the Hobbit by J.R.R. Tolkein Audiobook Free
      Enter JRR Tolkein’s Middle Earth with this awesome fantasy classic.  The Hobbit is the prequel to the Lord of the Rings trilogy and is one of my all time favorite books!  Now it’s available
    • Get Tina Fey’s Bossypants Audiobook Free
      Sometimes you need to inject some humor into your blogging life.  Tina Fey’s Bossypants audiobook is an awesome way to get a great laugh.  Read by Tina Fey herself, you likely won’t find a
    • Get George R.R. Martin’s Game of Thrones Audiobook Free
      I remember discovering the Game of Thrones when it was first released years ago.  This is a high fantasy novel that evokes the joy and thrill of Tolkein.  After that initial discovery, I’ve been
    • Get Name of The Wind by Patrick Rothfuss Audiobook Free
      Last week I was blog hopping and I got into a conversation with Erin over at write right about my recommended summer reading.  The very first thought that came to mind was my new
  • Did You Enjoy This Article? Subscribe to our RSS Feed!

    If you enjoyed this content, you can get automatic updates by subscribing to our RSS Feed.  For those of you familiar with RSS you can follow Riches Corner via our RSS feed. Simply enter your email below and you’ll get one daily email notification of the posts published on Riches Corner that day.

    Enter your email address:

    Delivered by FeedBurner


    Web Analytics