As the global economy slumped many countries were suffered and due to such many sectors were will dark days. As a result of this many were without jobs and indirectly it affect people to purchase or commit in purchasing of properties. In addition many financial institution have been sceptical of approving loans although BLR has been reduced since the global slump. Not to say that financial institution do not approve loans but just that they are careful on approving i.e. they will consider a lot of factors such as nature of job, salary, other commitments and etc.
Due to such many are afraid to commit in new purchase and on the other hand many will be worried about the capability to maintain their monthly house installment. Normally if a borrower are unable to sustain their payment for around 3 - 4 months it will be classified under NPL ( Non Performing Loan). Most of the banks will call up defaulters to pay their installment first before proceeding with legal action.
If the economy still slows down in coming days, many will falls under this category and therefore a lot of deault properties will be in the market. And I believe there are still many buyers or investors are waiting for such property to be in the market. As the basic principal in earning profit in most businesses is to "buy low and sell high".
Normally such property will be available through auction or foreclosure where banks will engage local auctioneers to conduct the sale of the auction properties.
You can also send me your requirements to my email angbb135@gmail.com in order for us to assist you in finding your right investment.
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