Comments on: A Post Auction Review of CBRE’s December 9, 2008 Public Auction http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html Your trusted resource for foreclosure investing in the Philippines with listings of foreclosed properties, real estate auctions, real estate investing tips, and more! Wed, 08 Feb 2012 16:17:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Considering Investing In Philippine Foreclosures? Check Out CBRE’s Public Auction On May 28, 2009 | Foreclosure Philippines http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html#comment-111 Considering Investing In Philippine Foreclosures? Check Out CBRE’s Public Auction On May 28, 2009 | Foreclosure Philippines Thu, 30 Jul 2009 05:01:29 +0000 http://localhost/wordpress/index.php/2008/12/a-post-auction-review-of-cbres-december-9-2008-public-auction.html#comment-111 [...] It’s been awhile since I last attended a public auction of CBRE and I remember this because that happened to be on my birthday last year. If you are wondering what goes on during a public auction, please do checkout my recent post about their last public auction here. [...] [...] It’s been awhile since I last attended a public auction of CBRE and I remember this because that happened to be on my birthday last year. If you are wondering what goes on during a public auction, please do checkout my recent post about their last public auction here. [...]

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html#comment-110 Jay Castillo Thu, 01 Jan 2009 17:10:00 +0000 http://localhost/wordpress/index.php/2008/12/a-post-auction-review-of-cbres-december-9-2008-public-auction.html#comment-110 Hello Jeffrey, "as is, where is" generally means the buyer agrees to purchase the property at its present physical condition including but not limited to any problems or legal issues the property maybe involved in. Best practice is for the buyer to thoroughly inspect the property and check for any lis pendens, annotations, etc., on the TCT plus traceback plus any arrears on taxes, dues, etc. that maybe for the account of the buyer. It would be highly recommended to check the auction guidelines as well on how the term "as is, where is" is defined by the bank conducting the auction. As for post auction requirements, aside from the show money or manager's check, the winning bidder must submit all requirements as stated in the conditions of sale. You may refer to the Conditions of Sale for the recent UCPB auction for example here -> http://www.foreclosurephilippines.com/2008/11/conditions-of-sale-for-ucpb-auction-on.html Hello Jeffrey, "as is, where is" generally means the buyer agrees to purchase the property at its present physical condition including but not limited to any problems or legal issues the property maybe involved in. Best practice is for the buyer to thoroughly inspect the property and check for any lis pendens, annotations, etc., on the TCT plus traceback plus any arrears on taxes, dues, etc. that maybe for the account of the buyer. It would be highly recommended to check the auction guidelines as well on how the term "as is, where is" is defined by the bank conducting the auction. As for post auction requirements, aside from the show money or manager's check, the winning bidder must submit all requirements as stated in the conditions of sale. You may refer to the Conditions of Sale for the recent UCPB auction for example here -> http://www.foreclosurephilippines.com/2008/11/conditions-of-sale-for-ucpb-auction-on.html

]]> By: jeffrey http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html#comment-109 jeffrey Sun, 28 Dec 2008 16:20:00 +0000 http://localhost/wordpress/index.php/2008/12/a-post-auction-review-of-cbres-december-9-2008-public-auction.html#comment-109 I appreciate your urgent reply, thanks for your thoughts!<br/><br/>Sir Jay, can you please expound the clause "as is, where is" for auctioned properties?<br/><br/>Another one; what makes a winning bidder a legitimate buyer? What are the typical requirements the auctioneer/bank would ask from the winning bidder? <br/><br/>Thanks again. I appreciate your urgent reply, thanks for your thoughts!

Sir Jay, can you please expound the clause “as is, where is” for auctioned properties?

Another one; what makes a winning bidder a legitimate buyer? What are the typical requirements the auctioneer/bank would ask from the winning bidder?

Thanks again.

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html#comment-108 Jay Castillo Sun, 28 Dec 2008 04:37:00 +0000 http://localhost/wordpress/index.php/2008/12/a-post-auction-review-of-cbres-december-9-2008-public-auction.html#comment-108 Hi Jeffrey, thanks for visiting my blog and for the compliment! It's great that you are now into foreclosed property investing. First of all, not all foreclosed properties undergo auctions, they just make the listing available and then interested parties can submit their offers, which will be up for evaluation. One example here is the RCBC dream buys sale which you can see here: http://www.foreclosurephilippines.com/2008/12/rcbc-savings-bank-dream-buys-sale-for.html<br/>As for auction guidelines, I'll be posting one soon as an example so you'll know what to expect. You can also attend an auction even if you are not yet going to bid on any property, I assure you that you'll learn a lot! Congratulations by the way on your coming wedding. If you're buying your first house, I suggest you treat it as if it was your first property investment in foreclosures. Hi Jeffrey, thanks for visiting my blog and for the compliment! It’s great that you are now into foreclosed property investing. First of all, not all foreclosed properties undergo auctions, they just make the listing available and then interested parties can submit their offers, which will be up for evaluation. One example here is the RCBC dream buys sale which you can see here: http://www.foreclosurephilippines.com/2008/12/rcbc-savings-bank-dream-buys-sale-for.html
As for auction guidelines, I’ll be posting one soon as an example so you’ll know what to expect. You can also attend an auction even if you are not yet going to bid on any property, I assure you that you’ll learn a lot! Congratulations by the way on your coming wedding. If you’re buying your first house, I suggest you treat it as if it was your first property investment in foreclosures.

]]> By: jeffrey http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html#comment-107 jeffrey Sun, 28 Dec 2008 03:10:00 +0000 http://localhost/wordpress/index.php/2008/12/a-post-auction-review-of-cbres-december-9-2008-public-auction.html#comment-107 Your blogs are really really informative! <br/>im a newbie here and just started reading bout bank's foreclosed property only since last night. And now i'm becoming hooked on it & becoming very interested on foreclosed properties. I'm getting married this coming year and its right time for me to acquire properties to start my family. My (newbie) question is: does all bank foreclosed property undergoes auctioning? I've never been to an auction and I am totally blank about auction procedures, guidelines and techniques. Hope you can keep me posted. Manny thanks and Happy Holidays! - Jeffrey Sia (jeff.msa@gmail.com) Your blogs are really really informative!
im a newbie here and just started reading bout bank's foreclosed property only since last night. And now i'm becoming hooked on it & becoming very interested on foreclosed properties. I'm getting married this coming year and its right time for me to acquire properties to start my family. My (newbie) question is: does all bank foreclosed property undergoes auctioning? I've never been to an auction and I am totally blank about auction procedures, guidelines and techniques. Hope you can keep me posted. Manny thanks and Happy Holidays! – Jeffrey Sia (jeff.msa@gmail.com)

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2008/12/post-auction-review-of-cbres-december-9.html#comment-106 Jay Castillo Tue, 16 Dec 2008 02:56:00 +0000 http://localhost/wordpress/index.php/2008/12/a-post-auction-review-of-cbres-december-9-2008-public-auction.html#comment-106 Hi to all visitors! I've been getting a lot of e-mail inquiries about investing in foreclosures in general, which is great! To make it more helpful to all, I encourage everyone to ask questions by posting comments so that everyone may benefit and learn from them. Thanks again for visiting! Hi to all visitors! I’ve been getting a lot of e-mail inquiries about investing in foreclosures in general, which is great! To make it more helpful to all, I encourage everyone to ask questions by posting comments so that everyone may benefit and learn from them. Thanks again for visiting!

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