El Subastajero's Choice Auction of foreclosed properties

The Property Forum Philippines will be having another auction of foreclosed properties entitled “El Subastajero’s Choice Auction”. One odd thing I noticed however is that there was neither any date nor time indicated in the auction announcement. I believe these details are too important to be left out so I was thinking they might have done this on purpose. Now why would they do such a thing?

Based on the print ad, all acquired assets on the list are on 1.00 peso knockout. Maybe their strategy is to sell all the foreclosed properties through the knockout option where one just had to add Php1.00 on top of the minimum bid price to knockout a foreclosed property from the list of properties included in the auction. Don’t take my word for it though as I’m just guessing.

Initially, I thought this was another round of the PNB “New Moon” auctions but the property codes don’t indicate any PNB properties. I also noticed that some of the properties on the list from other banks are the same properties from previous auctions.

Anyway, I’ll update this post once I am able to confirm the exact schedule and venue of the auction, if any.

Locations of foreclosed properties for sale

Mega Manila

Antipolo
Las Pinas
Makati
Mandaluyong
Manila
Muntinlupa
Paranaque
Pasay City
Quezon City
Paranaque
Pasig
Tanay, Rizal
Valenzuela

Luzon

Batangas
Bulacan
Cavite
Laguna
Pangasinan
Quezon Province
Rizal

Visayas

Bacolod
Cebu City
Cotabato
Negros Occidental

Mindanao

Agusan Del Norte
Zamboanga

Click here to download the complete foreclosed properties listing for El Subastajero’s Choice Auction or on the thumbnail on the left.

Source: Manila Bulletin, February 28, 2010 issue, page G3

For more details on any of the foreclosed properties and/or property inspections, please contact Property Forum Philippines directly through the following numbers: (02) 534-9536 / (02) 534-6954 / 0921-6722888

Show money is Php25,000 per property, in the form of cash or manager’s check.

The fine print

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 protective 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.

Happy Hunting!

To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
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