Comments on: RCBC Amazing Buys Public Auction Of Bank Foreclosed Properties – April 25, 2009 http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.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: Jay Castillo http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1208 Jay Castillo Sat, 09 May 2009 00:38:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1208 Hi Anonymous, thanks for the information. Yes I agree that it's a must to check for the authenticity of the TCT/CCT. What happened to the outstanding dues?<br /><br />Yes, be it tax foreclosures or bank foreclosed properties, one should not forget to check for any arrears in association dues for condos.<br /><br />For tax foreclosures, the one year redemption would actually allow investors to earn 2% per month. You can get more details on my post about the <a HREF="http://www.foreclosurephilippines.com/2008/11/marikina-public-auction-of-real.html" REL="nofollow" rel="nofollow">Marikina Tax forclosure auction</a>.<br /><br />By the way, how long would it take for the new TCT/CCT to be released after filing the petition?<br /><br />Thanks again for sharing! Hi Anonymous, thanks for the information. Yes I agree that it’s a must to check for the authenticity of the TCT/CCT. What happened to the outstanding dues?

Yes, be it tax foreclosures or bank foreclosed properties, one should not forget to check for any arrears in association dues for condos.

For tax foreclosures, the one year redemption would actually allow investors to earn 2% per month. You can get more details on my post about the Marikina Tax forclosure auction.

By the way, how long would it take for the new TCT/CCT to be released after filing the petition?

Thanks again for sharing!

]]> By: Anonymous http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1207 Anonymous Thu, 30 Apr 2009 07:17:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1207 Hi Jay, i just want to share my experiences from joining public auction done by the city or provincial governments. Some or most of the properties auctioned here are rather Titled or under Tax Decs only. You might be surprised that some of the properties included in the auction are cancelled TCT's or already been transferred to another owner. There are also some properties that are under tax declaration only are cannot be located by the assessor's office. So the time you decided to join more particularly auction done by the local government be sure to check the TCT/CCT. If Tax dec only, check the location map at the assesor's office. By the way if you are bidding for a condominium be sure to check also the association dues. There is one condominium in Makati that I bid for only 40k pesos which i presumed a clean title coz there was no encumbrance annotated on it. At first i thought it's a good buy but to my surprise the unit has an outstanding dues of Ph 1.2M. <br /><br />Another thing, take note that after winning the auction you still have to wait for a 1 year redemption period to lapse starting from the date of inscription of your certificate of sale on the TCT by the Register of Deeds. Then after that you still need to file a petition to the court for the issuance of the new title since you do not have the original TCT/CCT. Hi Jay, i just want to share my experiences from joining public auction done by the city or provincial governments. Some or most of the properties auctioned here are rather Titled or under Tax Decs only. You might be surprised that some of the properties included in the auction are cancelled TCT’s or already been transferred to another owner. There are also some properties that are under tax declaration only are cannot be located by the assessor’s office. So the time you decided to join more particularly auction done by the local government be sure to check the TCT/CCT. If Tax dec only, check the location map at the assesor’s office. By the way if you are bidding for a condominium be sure to check also the association dues. There is one condominium in Makati that I bid for only 40k pesos which i presumed a clean title coz there was no encumbrance annotated on it. At first i thought it’s a good buy but to my surprise the unit has an outstanding dues of Ph 1.2M.

Another thing, take note that after winning the auction you still have to wait for a 1 year redemption period to lapse starting from the date of inscription of your certificate of sale on the TCT by the Register of Deeds. Then after that you still need to file a petition to the court for the issuance of the new title since you do not have the original TCT/CCT.

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1206 Jay Castillo Fri, 24 Apr 2009 17:34:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1206 @Anonymous, sorry this reply might be a little late as the auction is only a few hours away. Still, I want to share info I learned from my broker, where she mentioned that an increase in selling price would most probably mean a new appraisal was done and the new minimum bid price is based on this. It means that RCBC(main bank which is different from RCBC Savings banks) is selling the properties at full market value. This is probably why I have never attended their auctions as I don't find any good bargains. In contrast, RCBC Savings Bank(Dream Buys Auction) do sell a lot of properties below market value. @Anonymous, sorry this reply might be a little late as the auction is only a few hours away. Still, I want to share info I learned from my broker, where she mentioned that an increase in selling price would most probably mean a new appraisal was done and the new minimum bid price is based on this. It means that RCBC(main bank which is different from RCBC Savings banks) is selling the properties at full market value. This is probably why I have never attended their auctions as I don’t find any good bargains. In contrast, RCBC Savings Bank(Dream Buys Auction) do sell a lot of properties below market value.

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1205 Jay Castillo Mon, 20 Apr 2009 11:19:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1205 Hi Rochelle, you may open or download the listing by clicking on the link near the bottom of the post(colored maroon). You may also click here instead: <a HREF="http://sites.google.com/site/foreclosedrealestatephilippine/Home/rcbc/RCBC-AMAZING-BUYS-PUBLIC-AUCTION-2009-04-29.JPG?attredirects=0" REL="nofollow" rel="nofollow">Download the listing of bank foreclosed properties for the RCBC Amazing Buys Public auction on April 25, 2009 here!</a> Hi Rochelle, you may open or download the listing by clicking on the link near the bottom of the post(colored maroon). You may also click here instead: Download the listing of bank foreclosed properties for the RCBC Amazing Buys Public auction on April 25, 2009 here!

]]> By: rochelle http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1212 rochelle Mon, 20 Apr 2009 02:34:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1212 san ba puwedeng makita yung list of properties up for auction? updated ba ang mga nasa bank websites? san ba puwedeng makita yung list of properties up for auction? updated ba ang mga nasa bank websites?

]]> By: Jay Castillo http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1211 Jay Castillo Tue, 14 Apr 2009 07:48:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1211 @Dionna, let me check my notes on dual citizenship and get back to you asap. No, I won't mind at all if you'll e-mail me directly. Thanks for visiting!<br /><br />@Anonymous, this looks strange indeed. I'll do some checking and update you all here as well. Thanks for pointing this out! @Dionna, let me check my notes on dual citizenship and get back to you asap. No, I won’t mind at all if you’ll e-mail me directly. Thanks for visiting!

@Anonymous, this looks strange indeed. I’ll do some checking and update you all here as well. Thanks for pointing this out!

]]> By: Anonymous http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1210 Anonymous Tue, 07 Apr 2009 14:29:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1210 Mr. Castillo ..I just made an observation regarding the list of property on public auction of RCBC and properties on their website have a different price. <br/>Example:In their website they list the property:<br/>Lot 2-AUnit 7 Pontiac cor. Regalado Sts, Regalado West Villas, Fairview, Quezon City, Metro Manila <br/>Title No.: N-167983 <br/>Lot Area: 59.51 sq m <br/>Floor Area: 175.00 sq m <br/>Indicative Price: Php 1,659,120.00 <br/><br/>Pero sir pag dating sa auction list yung same property (Prop. 9 in their auction list under Quezon City) eh mas mahal ang price (2,344,950.31) Ang alam ko pag auction dapat mas mababa ang indicated price ng property kasi it will undergo bidding pa. <br/><br/>Just my observation ....thanks Mr. Castillo ..I just made an observation regarding the list of property on public auction of RCBC and properties on their website have a different price.
Example:In their website they list the property:
Lot 2-AUnit 7 Pontiac cor. Regalado Sts, Regalado West Villas, Fairview, Quezon City, Metro Manila
Title No.: N-167983
Lot Area: 59.51 sq m
Floor Area: 175.00 sq m
Indicative Price: Php 1,659,120.00

Pero sir pag dating sa auction list yung same property (Prop. 9 in their auction list under Quezon City) eh mas mahal ang price (2,344,950.31) Ang alam ko pag auction dapat mas mababa ang indicated price ng property kasi it will undergo bidding pa.

Just my observation ….thanks

]]> By: Anonymous http://www.foreclosurephilippines.com/2009/04/rcbc-amazing-buys-public-auction-of-2.html#comment-1209 Anonymous Tue, 07 Apr 2009 12:37:00 +0000 http://localhost/wordpress/index.php/2009/04/rcbc-amazing-buys-public-auction-of-bank-foreclosed-properties-april-25-2009.html#comment-1209 Hi Jay,<br/><br/>Great work. I am slowly learning on the process of how to acquire foreclosed properties through your site. I am hoping to applying what I have learned from here soon. I am currently overseas and I have acquired the citizenship of the country where I am now. I am interested to buy properties in the Phils either to rent out or to sell. Can you please advise what law in terms of property ownership apply to non citizens of the Phils. Would you recommend that I apply for dual citizenship? <br/><br/>Thanks for any advice....Would you mind if I e-mail you directly? <br/><br/>Dionna Hi Jay,

Great work. I am slowly learning on the process of how to acquire foreclosed properties through your site. I am hoping to applying what I have learned from here soon. I am currently overseas and I have acquired the citizenship of the country where I am now. I am interested to buy properties in the Phils either to rent out or to sell. Can you please advise what law in terms of property ownership apply to non citizens of the Phils. Would you recommend that I apply for dual citizenship?

Thanks for any advice….Would you mind if I e-mail you directly?

Dionna

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