Our life savings is at stake

Watzzup!

 

(Back-story: There was an instance in my childhood na pinalo ako ng Nanay ko dahil sa kakulitan. Nakatulog na ko kakaiyak. lol)

 

I’m patiently waiting for the result of our offer to buy the foreclosed property in Quezon City.

After a week, I’ve got an email from the bank that there were other bidders who wanted to buy the same property as ours.

I’m a bit disappointed and nervous because I may lose in the bidding if someone may offer the highest price than ours.

It’s the disadvantage of sealed bidding compare to an auction because right on the spot you will see who the other bidders are and up to how much they can offer.

I didn’t lose my hope and gave the conservative highest price that I can offer to bid for this property.

Each day had passed I couldn’t calm myself and barely sleep at night.

Parang manok na di mapakali.

It was Dec 11, 2014 at 6:32 PM, I was really surprised when I checked my email:

I won the lottery.

Just kidding, I never tried to bet for lotto.

sealed-bidding-anounce-winner_2

We won the bidding and I wanted to jump inside our office because of happiness.

It’s time to settle the downpayment.

Our life savings was deposited to a different bank where we purchased the foreclosed property.

What I did was to look for a safe location where these 2 banks have branches so that I can easily deposit after I withdraw our life savings.

It was in Greenfield District in Shaw Blvd which has a roving guard all over the place where we rented our apartment.

While we were inside the bank, I was a bit paranoid and looking for every person because I don’t want to have any trouble for this only one big event in our life.

If something goes wrong maybe a hold-up (wag naman sana, Lord), then we will lose our life savings that we have worked hard over the years and our future own house as well.

I’m a bit nervous while the cashier handed over to me the 3 bundles of 100 thousand pesos each.

It was about 2-minute walk to the other bank to deposit that cash.

After the cashier confirmed our downpayment to that foreclosed property without any hassle, nakahinga na din ng maluwag.

I’m sharing this experience not to boast but to inspire you.

For you to achieve what you want or to succeed in life, you have to work hard and persevere.

It’s not all about luck.

I spent so many hours scouting the Metro Manila and restless nights before we finally purchased the right property for us.

Also, I realized that most of our fears didn’t actually happen.

It’s only in our mind.

Like, what if:

  • The property has double title
  • Matalo lang lagi ako sa bidding
  • Wala akong makita na property na afford namin

For me, these are all only excuses.

Don’t be afraid to start your own business, invest in foreclosure, stock market and many others.

You just have to believe in yourself and have faith.

 

To your financial success,

Marvin Basa

About The Author

Marvin Basa

Marvin Basa is a financial literacy advocate who helps Pinoys to have successful financial lives.

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