Pasalo, or assume balance, is when the original buyer of a property can no longer keep up the payments and transfers their rights to a new buyer. The new buyer pays them a cash-out for the equity already paid, then takes over the remaining balance owed to the developer, bank or Pag-IBIG.

No. The price on a pasalo listing is the cash-out paid to the current owner. The property's real cost is the cash-out plus any transfer fees plus the balance you assume. Every For Assume listing on Filipino Homes shows all three figures so you can compare it fairly against an ordinary sale.

Almost always, yes. Most contracts to sell require the developer or lender to approve a transfer of rights before it takes effect. Each listing states whether that approval is already in writing, still pending, or not allowed — confirm it before you pay anything.

Often, yes, once the transfer of rights is recognised by the developer. Listings that carry an outstanding loan balance show an estimated monthly payment under both a bank rate and the Pag-IBIG rate, along with the income usually needed to qualify. Your own approved rate and term will differ.

The main risks are a balance larger than advertised, unpaid arrears that transfer with the unit, and a developer who will not approve the transfer. Ask for the latest statement of account, confirm the outstanding balance directly with the developer or bank, and sign a deed of assignment before paying the cash-out.

Usually because their circumstances changed — a job loss, a move abroad, or payments that outgrew their income. Letting the contract lapse would forfeit most of what they have already paid, so a pasalo lets them recover part of it while the new buyer gets a property that is already part paid for.