My wife and I inspected a bunch of foreclosed properties in Las Pinas City included in an auction on February 4, 2012 and we are featuring the pictures and other details we have gathered through this post. We only focused on the properties that are unoccupied and have no legal impediments, based on the information we got from the bank listing.
Only 4 out of the 13 properties located in the Las Pinas area are unoccupied and we inspected 3 of them. Inspecting them was quite easy because they were relatively close to each other and we had a “friendship sticker” on our car which allowed us to pass through certain subdivisions within Las Pinas.
We were done with our ocular inspection in about 2 and 1/2 hours, which included travel time, and about forty five minutes of this was spent having lunch… not bad right?
This is one advantage of focusing on a specific area or niche as mentioned in my article 4 steps to quickly analyze and shortlist foreclosed properties*.
*I really need to update this article because I wrote it prior to Ondoy, and I was still based in Marikina back then.
Please keep in mind that it is not a good idea to inspect ALL of the properties that you find on listings of foreclosed properties, it would be wiser to inspect only those that you have shortlisted. It just so happened that we (my wife and I) are still familiarizing ourselves with the territory, and we simply want to get exposed and learn as much as we can about the properties here in Las Pinas.
Our goal is to build our expertise in this niche and reach a certain level wherein we would start recognizing good deals faster.
Anyway, here are the pictures of the properties we inspected along with other details we have found so far.
1. No. 18 B10 L19 Anthem St.,Sta. Cecilia Village, Talon 2, Las Pinas City
- Lot area: 260sqm
- Floor area: 157sqm
- Minimum bid price: Php2,956,000
- Vicinity map: http://g.co/maps/g7ysx
We noted that this house was quite old and needs a lot of repairs, especially since most of its wooden structure has termites (please refer to pictures). The main house is a 3BR/2TB and has a garage. (Don’t know what 3BR and 2TB means? Checkout this article about real estate acronyms).
There is a small house at the back which is a 2BR/1TB. The caretaker said this is where they stay and it was probably rented out before.
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2. B4 L7 Camella Fronterra Subdivision, BF Resort Village, Talon 2, Las Pinas City
- Lot Area: 95sqm
- Floor area: 64sqm
- Minimum bid price: Php2,479,000
- Vicinity map: http://g.co/maps/wejc9
Before we visited this property, I thought to myself that this was probably too expensive because it had such a small lot area and floor area for the price. When we saw the inside of Camella Fronterra however, I no longer felt visiting this property was a waste of time because the place looked nice, safe, and secure.
The property itself is a single-attached unit, and reminded me of the houses in Maia Alta, Antipolo City. It is a 3BR/2TB house with 1PS, although the bedrooms would be quite small, obviously! We were not able to see the inside of 2 of the 3 bedrooms because the doors were locked and there was no caretaker who can unlock them for us.
Yes, the house had no caretaker and it was not locked at all (Maybe there was no need for a caretaker because the property is inside a gated subdivision? ). The property had a big opening for what I believe would be a french door, but it seems this was never installed, and the house was not finished.
Of the three houses we visited, this appeared to be the one that needed less repairs even if it was not completed, in my opinion. Anyway, just look at the pictures below and you be the judge.
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3. No. 29 Francel St., Pilar Executive Vill., Almanza Uno, Las Pinas City
- Lot area: 166sqm
- Floor area: 83sqm
- Minimum bid price: Php1,328,000
- Vicinity map: http://g.co/maps/5r9dg
This one was the cheapest of all the properties we inspected based on the minimum bid price, but it also needs a lot of repairs. It is also the one nearest the Alabang area. It is a 2BR/1TB house with garage. It is very near SM SouthMall, and DMCI’s Ohana Place condos.
The caretaker told us that this area got flooded during Ondoy and it was about chest-deep. We noticed what appeared to be very faint floodlines on the perimeter walls of the subdivision which can be seen at the extreme left of the panoramic picture below.
It has an unfinished concrete structure at the back of the house.
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Reminders
- Property inspection is just one part of due diligence and other factors such as legal and financial aspects must also be considered.
- To get an estimate of the repair cost for a property, a thorough property inspection should be conducted with a competent contractor, who can then submit their repair estimates afterwards.
- The purpose of this article is to feature the information we have gathered above. Our standard disclaimer applies, as always.
- Interested parties are advised to do their own due diligence as these foreclosed properties are for sale on an “as is where is” basis.
As mentioned in the beginning of this post, the foreclosed properties above are included in the auction on February 4, 2012. If you are interested in any of these properties, I would be more than willing to assist you as I am an accredited real estate broker of the selling bank. Just let me know through the comments section below.
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To our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page
Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2012 All rights reserved.
Full disclosure: I am an accredited real estate broker of the selling bank.
{ 28 comments… read them below or add one }
hello sir jay, interesado po ako jan sa number 1, may kamag anak kasi ako jan sa talon dos, maganda daw po jan.pag bidding po ba dapat di bababa sa minimum bid price???thanks a lot sir.mercysayen@yahoo:disqus .com po email ko, thanks po ulit
Hi Ms Mercy. Opo, Sa minimum bid price po mag uumpisa ang bidding kaya hindi napo bababa dun. Salamat din po!
Sayang to kasi nasa loob lang ng village namin –>> 2. B4 L7 Camella Fronterra Subdivision, BF Resort Village, Talon 2, Las Pinas City
May alam ka ba na around 2M lang in Las Pinas?
Thanks.
Hi JR, meron sana kaya lang occupied daw ng mga former owner. Eto yung nasa Las Pinas:
No. 51 B61 L13 Augustus St., Garden Homes III-A, BF Resort Vill., Talon 2 (minimum bid price is P1,627,000)
B6 L4 Chapel Rd., Gatchalian Subd., Phase 2, Manuyo Dos (minimum bid price is P2,091,000)
I live very near -> Augustus St., Garden Homes III-A, BF Resort Vill., Talon 2… sayang naman!
Jay, do you also handle Paranaque area? Ok ba mag invest sa condo units near the airport, para ipa-rent?
Thanks.
Hi Jay, I’m interested to invest in foreclosed properties and would like to explore if you can help me. How can we correspond privately?
Thanks,
J
Hi J, I’ll send you an email directly. Thanks!
To JR Rosales : Bihira po ang P2M in BFRV, sa Labas may mga available na for sale by Owner pero mostly Townhouse.. – Roel Vergel
Ok lang na townhouse, ipa rent lang naman
Foreclosed ba yun alam mo na binebenta? Thanks.
Hi Jay, i missed this email. Are the properties still available?
Hi Sam, yes, all of these three properties are still available. No one made a bid for any of them last Saturday. Interested?
Hi Jay, we are interested for the property no. 257 at Italia 500. is this still available? My worry is that it has an asterisk mark which may pose a problem later on. How can i mitigate this risk, since it is an “as is where is basis”. Would you happen to know specificaly the asterisk mark meant for this foreclosed property.
Hi Sir Jay! Can I refer buyers to you? Las Pinas and BF Homes properties. I’ve sent you email also..
Hi Maredith, yes, referrals are welcome. Thank you for commenting here as my mailbox is always full, I’ll look for your e-mail in my mailbox. Thanks!
hello po sir jay,
gusto ko po sana mag explore at matuto. gusto ko po maging student nyo. anu pong marerecommend nyo sir.
hello Jay, as Real Estate practitioner, would you recommend the first property despite termite invasion? how much would be the estimate renovation cost for that? thanks. . .
hello sir would you recommend the 1st property despite the termites? how about the renovation cost?
Hi Sir!
I’m looking for commercial property in Cavite or Las pinas area. Kindly email me at bong.ramos@conautic.com.
@conautic:disqus
Thank you and regards,
Bong Ramos
HI, Is Sta Cecilia property still available ? thanks
hi jay, i have property a condominium located at ortigas ext. pasig city project by dmci. i wnt to sell it na. can u help me. this is my email fjn_989@yahoo.com or call me at 4046742 i have also other 3 condos. good for investment i offer it for bargain because i really need money. ty
hi sir jay,. ako po hanap sana po ako ng rent to own na house and lot my husband is OFW my rerefer po ba kaya sa akin na kaya lang po namin.if mag dodown payment kami ng 100,000 den mag kanu monthly namin?
gud day
i’m a pag-ibig member and looking for a foreclosed property thru pag-ibig financing . is there a such? i’d like to have a town house or any for a geowing family.
thank you
adoi
hello sir jay! nakuha na po ba yung sa no.2 camella fronterra?? or yung sa pilar vill 1.3m…nakuha na rin po ba?? kung meron po kayung alam worth 1.5m pki email na lang po sir jay. las pinas area po..salamat
Hi Jay,
Kindly email me condos and H&L for sale in las pinas area. Meron bang mga rent to own? Or mga nasa 20k/mo?
Thanks.
Hi Mr. Jay,
Will you kindly help us find a foreclosed property in the vicinity of BF Resort / International / Village that ranges to a maximum of 3M? Thank you so much.
Hi Ms. Judy, I will check my listings and get back to you asap. Thanks for dropping by!
hi gud eve..
im looking 4 lot or house and lot here in las pinas city
that i can aply thru pag ibig in maximum price of 1m only..
thanks in advance and god bless you sir…
09068261246
Hi Wilson, I will be coming up with another featured listing of Las Pinas properties soon (I suggest you subscribe to get notified through email) and I will include one that fits your budget. Although Bank’s rarely accept bank financing through Pag-IBIG, RCBC Savings Bank accepts this but you need to go for in-house financing first while your loan with Pag-IBIG is being processed. Thanks for the comment.
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