Legal Question in Real Estate Law in Philippines

i own a condo unit in philippines the total price is about 2.1 million and i still have a remaining loan of 1.8 million on the bank called BDO its only been 1 year only , now i wanted to sell it to have my 300000 back. is this possible? if so HOW? will they take interest on how much i can sell it? i will probably sell it to get my 300000 back and the buyer will continue my loan on BDO? THANK YOU

Asked on 5/10/13, 1:14 pm

2 Answers from Attorneys

VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

Yes, you can sell it but you have to notify BDO.

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Answered on 5/10/13, 8:44 pm
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

Yes

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Answered on 5/11/13, 10:16 am


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