LandBank foreclosed properties/acquired assets are up for sale through a public sealed bidding on December 16, 2010, at the 30th Floor, LandBank Plaza, Malate, Manila, Philippines. Sealed bids and the required 10% bid bond will be received by the Special Assets Department (SPAD) up to 9:30am on the same day.
Please refer to the Invitation to Bid for LandBank foreclosed properties below for more details. (click to enlarge)
Source: Philippine Star, November 28, 2010 edition, page b-9
One thing I noticed about this list of Land Bank foreclosed properties and acquired assets is it includes a condo unit from Kingswood, which is a condo I pass-by quite often in Makati City.
If I remember correctly, a similar condo unit that was included in an auction of UnionBank forclosed properties about 2 years ago, was sold for Php3.4 Million. However, the Invitation to Bid above indicates that the condo unit is occupied. If the occupant is a tenant, then I guess that would be okay. Otherwise, I would have second thoughts, but that’s just me.
Another interesting thing I noticed here is there are 8 commercial properties on the list that are located at the IBM Plaza in Eastwood City, Libis, Quezon City. The average selling price is Php45,000/sqm and it appears they can be bought individually. If you are interested with investing in foreclosed commercial properties, this just might be for you.
For more details
To get more details about this sealed bidding of LandBank foreclosed properties, you may either visit or call SPAD DIRECTLY* at telephone nos. 405-7366, 405-7248, 405-7247, and 405-7685.
You may also attend the Pre-Bid Conference on December 13, 2010, 2:00pm, at the 30th floor conference room, LandBank Plaza, 1598 M.H. del Pilar St., Malate. Just call LandBank’s SPAD for more information.
*I am neither connected nor accredited with LandBank of the Philippines. I am just posting this list as a public service to readers and subscribers of www.foreclosurephilippines.com
Heads up: more foreclosed properties and tax delinquent real properties for sale
Just a heads up: I will be posting four more listings of foreclosed properties and tax delinquent properties for public auction this December 2010.
These are from the Development Bank of the Philippines (DBP), The Philippine Deposit Insurance Corporation (PDIC).
The Quezon City Office of the City Treasurer will also be having an auction of tax delinquent properties.
It seems December 2010 is turning out to be a very busy month for real estate investors! Anyway, I will post all of these lists within the week. Please watch for them and don’t forget to subscribe and be notified once they are published.
To our success and financial freedom!
Real Estate Investor
Real Estate Broker License #: 20056
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Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.
PS. I helped facilitate the Think Rich Pinoy Seminar last December 4, 2010 and it was truly awesome! It was a pleasure meeting those who attended (pictures to follow). The next Think Rich Pinoy Seminar will be on February 19, 2011.
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