The city of Antipolo conducted their own Tax Delinquent Real Property for Public auction. Fyi.

Regards,

Jun Tagle

Thank you so much. I also have another question. I have noticed in one of your post, I think it was the lesson learned when you we’re supposed to buy your first real estate investment. My question is, how did you get to know all those persons that are seasoned Real Estate investors? And where can I find Real Estate Seminars and Coaching? My Wife and I has already decided to invest next year and this will be our first venture into business and we just wan’t to make sure that we know everything before we get into it and we also want to know the best suitable area in Real Estate we can start investing. I hope you can post some of the schedule of seminars and I hope you can suggest where we can start. More Power to your Website. It’s Very Helpful!

Thanks and God Bless,
Jeffrey Baclangen

Yes, kung nag lapse na yung 12 months at hindi tinubos nung may ari, at ikaw yung nanalo sa bidding for that property, magiging sayo na yon. If for example ikaw yung winning bidder, ikaw na ang mag fa-file ng ejectment case, etc.

Isa ito sa dahilan ko para laging isuggest na pagdating sa tax foreclosures, piliin lagi yung property na mukhang tutubusin nung may ari at ang magandang objective lang ay mag earn lang ng interest, nakatulong ka pa sa may ari dahil nagkaroon siya ng 12 months to redeem the property. By the way, pag walang nagbid sa property, ang winning bidder eh ang local government by default.

Salamat rin John!

Yup, one can find great bargains in tax foreclosure auctions although personally I would only bid on properties where the owner is likely to redeem the property.

When one bids and wins, you are actually buying some time for the owner(12 months to be exact) to settle his arrears and redeem the property. There is a return of course to the auction winner and this is the 2% per month interest earned on his winning bid .

Excellent idea! I will come up with a process flow and include it in an upcoming post about investing in tax foreclosures.

At the very least I can be your “virtual mentor” through this blog but you may also contact me directly using the contact details posted at the bottom of each article.

I’m really glad to see that you are really taking the initiative to learn more about real estate investing and I would be more than glad to help. All the best!

There was an auction of tax delinquent properties in Taguig last year and a friend of mine did not have a pleasant experience because he couldn’t even find the property he was interested in that was up for auction. Anyway, I will of course post any info for any tax foreclosure auction in taguig I may find.

Actually the minimum bid price is often equal to the Tax Due plus penalties, etc. In effect, the buyer is paying the taxes instead of the property owner in exchange for the interest he may earn which is usually 2% per month for a maximum of 12 months. By doing this the buyer is also giving the property owner another 12 months to settle his back taxes.

If in case at the end of the 12 months and there is still an occupant, the buyer will be responsible for the eviction of the occupant. As a general rule, I would not invest in tax foreclosures with the goal of getting the property, especially if there are occupants. I would rather bid for properties that are more likely to get redeemed by the owner. You can read more about my learnings from the Marikina tax foreclosure auction