New - Property is one that has never been occupied and is being offered for sale for the first time by the developer or owner.

• Ready for Occupancy (RFO) - An RFO property is a brand new house or condominium unit that is fully completed and legally ready for the buyer to move in after the sale is finalized. This means all construction is finished, necessary permits are in place, and utilities are connected (or ready for connection). RFO properties offer the advantage of immediate move-in. You can physically inspect the finished unit before purchasing.

• Pre-Selling - A pre-selling property is a brand new house or condominium unit that is being offered for sale before or during its construction phase. Buyers typically purchase based on floor plans, perspectives, and model units. Pre-selling properties often come with more flexible payment terms and potentially lower introductory prices compared to RFO units. However, there's a waiting period for completion, and the final product might have minor variations from the initial plans.

Pre-Owned / 2nd Hand / Resale - They refer to properties that have had previous owners and are now being put back on the market. Pre-owned properties can offer more value for money in terms of size or location compared to new properties in the same price range. However, they may require renovations or repairs. The condition can vary greatly.

Foreclosed / Acquired Assets - A foreclosed property is one that a bank or lending institution (like Pag-IBIG) has taken ownership of due to the previous owner's failure to repay their mortgage. Acquired asset is a broader term used by banks to refer to properties they have come to own through various means, including foreclosure. Foreclosed properties can sometimes be bought at below-market prices, presenting an investment opportunity. However, the buying process can be more complex, often involving bidding or specific bank procedures. The property might also require significant repairs or have existing legal issues that need to be resolved.

Pasalo / Assume Balance - A Pasalo (to transfer) or Assume Balance property is one where the original buyer, who is still paying the mortgage to the developer or bank, transfers their rights and obligations to a new buyer. The new buyer essentially takes over the remaining mortgage balance and any outstanding payments to the original owner. It's crucial to thoroughly review the original sales contract, loan terms, and ensure all parties (original buyer, new buyer, and developer/bank) agree to the transfer. There might be transfer fees involved.