Property Forum Philippines’ Subastahan Sa Festival – July 25, 2009
The Property Forum Philippines shall be conducting a public auction of foreclosed properties entitled “Subastahan Sa Festival” on July 25, 2009 at the World Trade Center, Roxas Blvd., Pasay City, Philippines. Registration Starts at 10:00AM, auction proper starts at 11:00AM. This auction coincides with the Philippine Real Estate Festival 2009 which explains the auction’s title. Property Forum Philippines also had a similar auction in last year’s Philippine Real Estate Festival at the SMX where I made a bid on a property and won.
This auction of foreclosed properties is powered by The Property Forum Phils., which claims to be the No. 1 Property Auctioneer in the Philippines, with a nationwide network and over 67 auctions with more than 3,700 winning bidders.
For this particular auction, INSTANT CASH KNOCKOUT is available, just add Php1.00 to the minimum bid price (MBP) to withdraw your choice of property from the auction in an instant. Foreclosed properties can be acquired for as little as 10% downpayment.
This auction will be conducted by Noli “El Subastajero” Alleje.
The foreclosed properties up for sale are from Antipolo, Caloocan, Las Pinas, Makati, Malabon, Manila, Muntinlupa, Navotas, Paranaque, Pasay, Pasig, Quezon City, Valenzuela, Batangas, Bulacan, Cagayan, Laguna, Nueva Ecija, Quezon Province, Rizal, Sorsogon, Tarlac, Bacolod, Capiz, Cebu, Iloilo, Negros Occidental, Cotabato, and Misamis Oriental.
Be sure to inspect your chosen property as part of your due diligence prior to bidding. For property inspection, you may call (02) 534-9536/ (02) 534-6954/ 0921-6722888.
Show money is Php25,000 per property, cash or manager’s check. All properties are offered on an “As-is, Where-is” basis. Titles of properties are either under seller’s name or under various stages of title consolidation to seller’s name thus prospective buyers are advised to conduct their due diligence prior to entering into any contract with the seller. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. Changes in prices are subject to the sole discretion of the seller.
Click here to download the complete listing of foreclosed properties for Property Forum Philippines’ Subastahan sa Festival public auction on July 25, 2009. (Source: Manila Bulletin, July 9, 2009, Classified Ads Section, Page 16)
Happy investing!
To our financial freedom!
Jay Castillo
Real Estate Investor
REBL#: 20056
Blog: www.foreclosurephilippines.com
Social Network: foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor@gmail.com
P.S. - I can still vividly remember last year’s Philippine Real Estate Festival where Property Forum Philippines also had an auction. I won on my bid that time and I hope to do the same this year, provided I find a promising foreclosed property on this list. I better start my analysis and make sure that this time, if ever I do bid on a property, it would have no problems with the mother title. I ended up not buying that property last year.
Text by Jay Castillo. Copyright © 2009 All rights reserved.
Related posts:
- The Property Forum Philippines' Subastahan Sa Tag-Init Public Auction Of Foreclosed Properties – April 30, 2009
- Property Forum Heroes’ Day auction of foreclosed properties on August 31, 2009
- Thanksgiving auction to be conducted by Property Forum Phils. on November 28, 2009
- Subastahan Ni Papa Public Auction Of Foreclosed Properties On June 27, 2009
- 5 reasons to attend the 3rd Philippine Real Estate Festival (2009)
- Quezon City Property Tax Sale On July 2, 2009
- Unionbank Listings Of Foreclosed Properties For Public Auction On July 11, 2009
- Join The 1 Peso Knockout Auction Of Foreclosed Properties On May 23, 2009
Tagged with: Philippine Real Estate Festival • Property Forum • Public Auction • subastahan
Filed under: Property Forum • Public Auction
Yes, repossessed cars should be available through bank financing but the rates would vary depending on the age of the car and the loan term. Better call them up to get an idea for any particular repo car you might be interested in....
hi jay,
as usual your post is so informative..thanks…just wanna know how long do you usually dispose a property? thanks
Hi Louie, you’re welcome and thanks for the compliment! Usually the goal is to sell the property even before repairs have been completed.
Personally, whether it be rentals,rent-to-own, or flips, the target is to have it tenanted or sold within 1 month. Otherwise holding costs like the monthly amortization would eat up all the projected profits.
Hello Jay,
As always nice post and very informative. I wonder if for example the title of the property for Auction is “in the process” of consolidation on the bank’s name, what would you do? would you still proceed and bid for the property?
The person-in-charge told me that the consolidation will take 5 months, what is the best way to protect myself? considering everything else are fine. Thanks.
Hi Pinoyentr3preneur, it depends on what stage the consolidation is in and what investment strategy you are considering. For example, if the consolidation is already at the stage where the bank is just waiting for the release of the new TCT under the name of the bank, that would be acceptable to me as it should take only a few weeks for the registry of deeds to release the new title. For the property you mentioned, ideally it should be put in writing that all your money will be refunded if consolidation is not completed in X number of days plus interest, though I have not encountered or heard of any deal like this. I have heard of similar contracts where the seller will return all the buyer’s payments if the seller is unable to give the possession of the property to the buyer in X number of days. 5 months of waiting would still be okay if your investment strategy is to use the property as a rental property or if you intend to live there. Of course if you plan to flip and sell the property, 5 months is too long and holding costs would eat up a lot of your projected profits. Thanks for the question and for dropping by!
Property Forum is one of the largest auctioneer of properties. I already met their Managing Director Sir Noli Alleje before during my employment with an SPV.
I hope to be back to an SPV company.
Hi Tyrone, nice to see you here. Congrats for being featured in Good Housekeeping!
There are a lot of SPV’s out there and last week my wife and I just had a meeting with one of them. The only problem with working for SPV’s is you might not be allowed to invest on the properties being handled by the SPV, at least that’s what our meeting hosts told us.
Hello Jay,
Thanks for your response. Regarding the stage, it was already filed and currently in the BIR office…… waiting
The broker revealed that the bank will not sign into a compromise agreement such as mandatory refund of your money. They will tell you “just not bid until the title is consolidated”.
I can enter a rent-to-own agreement with the prospect buyer to make-up with the time or….. Is it possible to make a Deed of Assignment / Transfer of rights document so that I can get my money back + profit then the bank will transfer the title into my buyer’s name once it is consolidated?
In that way, I also don’t need to pay necessary taxes. Do you think this is a good work-around? I can renovate the property then transfer my rights to another buyer. He/she will either pay the mortgage in cash or assume the mortgage payments.
Thanks.
Hmmm, since it is still with the BIR, the I guess it would really take time but if you are planning on selling the property through rent-to-own scheme then 5 months of waiting would be acceptable. Regarding executing a deed of assignment, yes its a good idea and I believe its possible but you would have to check with that particular bank if they will allow this and if they will charge any assignment fees, etc.
Hello Jay,
Another question came in mind, I asked the broker if I could get a copy of the BIR receipts since they said they already paid the CGT. But he said they are also in the BIR office
Can I verify on BIR if the property is “in the process of consolidation”?
The broker btw will provide the Certificate of Sale. But I’m thinking of double verifying on BIR office.. if it’s possible.
Thanks again for your big help.
I would suggest you first get a copy of the certificate of sale and then you can use it for further verification. I suggest that when you do go to the BIR to verify, just be very pleasant and mention that you are just doing a follow-up.
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Thanks.
Your post are informative.
I am looking now at some foreclosure sales but there are not many properties. I want to buy a property in Golders Green and looking for Property for sale Golders Green