RCBC Amazing Buys Metro Manila and Luzon foreclosed properties for sale – August 31, 2009

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The RCBC Asset Management Group will be having another Amazing Buys sale of foreclosed properties through sealed bidding which features properties from Metro Manila and Luzon. Deadline of submission of offers is on or before August 31, 2009, Monday, at the 12/F Yuchengco Tower, RCBC Plaza, Ayala Avenue corner Buendia Avenue, Makati City, Philippines.

Metro Manila foreclosed properties for sale include properties from Makati City, Pasig City, Quezon City, and Valenzuela City.

Luzon foreclosed properties include properties from Albay, Cavite, Laguna, Palawan, Bataan, Bulacan, Nueva Ecija, Nueva Vizcaya, Pampanga, Tarlac, Ilocos Norte, Isabela, Pangasinan, and Quezon Province.

Click here to download the complete list of Metro Manila and Luzon foreclosed properties for sale in RCBC’s Amazing Buys sealed bidding on August 31, 2009.

( Source: Manila Bulletin, August 16, 2009 issue, page G5)

Bid requirements
According to the print ad, all offers must be submitted with the following:

  1. Ten percent (10%) deposit based on published price.
  2. Submission of the accomplished forms (forms can be secured at any RCBC branch)
  3. All offers must be submitted on or before August 31, 2009 to avail of low interest rates and downpayment.

However, the exact figures for “low interest rates” and “low downpayment” were not indicated on the print ad. To get more details, please call the following:

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  • Luchi Castillo 878-3435
  • Conci Navarro 878-3387
  • Vanesa Sempio 894-9099
  • Ross Arabaca 894-9000 loc. 1165
  • Ging Parcon 894-9908
  • Elma Silvestre 894-9000 local 2233
  • Jeng Manuel 878-3436

You may also visit their website: http://www.rcbc.com/prop.php

AS IS, WHERE IS
All properties are for sale on an “as-is-where-is” basis. Properties and prices are subject to change without prior notice. Inadvertent misprints shall not alter the property’s factual condition or shall they be deemed as a misrepresentation of the property.

To be honest, I rarely find any promising investment properties in RCBC Amazing Buys auctions as I find them to be too expensive. Do take note that the RCBC Amazing Buys auctions are different from the RCBC Savings Bank Dream Buys auctions.

Happy Hunting!

—–

To our financial freedom!

Jay  Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Social Network: http://foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor@gmail.com

Text by Jay Castillo. Copyright © 2009 All rights reserved.

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About Jay Castillo

Jay is the founder of Foreclosurephilippines.com where he shares real estate investing tips and foreclosed property listings. He quit his job as an I.T. Manager to focus on Real Estate Investing and Internet Marketing. He is a PRC licensed Real Estate Broker (REB License # 3194)... [Read more]

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  • http://www.foresu-re.info Liza

    Hi! Jay before i ask if lots in tagbilaran city is still available and how i can purchase this one coz im interested ,im here in qatar.

  • Harrison

    Hi jay,

    pls advice how can i start investing since im here in dubai..can you refer me a deal finder..

    How much is the average commission fo 10% down payment property?

    Salamat po,

    Harry

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Harry! I’m coming up with a post listing my suggestions on how OFW’s like you can start investing in real estate even if you are not here in the Philippines… one suggestion is to get someone to do the legwork for you like a relative or even a trusted broker. If you are going to buy a foreclosed property from a bank, the broker usually gets anywhere from 1% to 5% based on the selling price of the property. Will come out with that post soon, please watch for it. Thanks for visiting!

  • Joshua

    Hi Jay,

    i have been browsing through all of the foreclosed properties on your very large archives.. hehehe but i cant see to find the property im looking for… im not really interested in investing but i would want to buy a house for my family around CAloocan Grace Park Area or Quezon City Laloma or around Welcome Rotonda Area.. can you please help me??
    thanks and more power to your site..
    it’s the best…

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Joshua,

      I would be of little help for properties in Caloocan as I really don’t look at properties in the Caloocan, Malabon, Navotas, Valenzuela (CaMaNaVa) area, as they are simply too far from my home base. =)

      For Quezon City area, I’ll be on the lookout and let you know of any I may find.

      By the way, although you are just looking for a house for you and your family to live in, may I suggest that you treat it as an investment as well so that if you do decide to move to another home in the future, you can either keep it as a rental and gain a nice positive cashflow from the passive income, or you can sell it for a significant profit. ;-)

      Thanks for visiting!

  • Susan

    Hi Jay,

    You are right, the foreclosed properties are really higher than those published in the newspapers being sold by owners themselves.

    Honestly, for the past few months, I’ve been looking for foreclosed properties, I find them not attractive at all. If you visited their properties, either most of them are cannibalized or with major repairs, even they put there in the remarks section with manageable impairments.

    Susan

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Susan, I guess this is a common observation for the RCBC Commercial Bank listings. It would be easier to find better deals from their Savings Bank counterpart or even from other banks. =(

  • http://viterb02@yahoo.com Harrison

    Hi jay..

    What do you mean by “Vendable – w/ Manageable Impairments” as i was taking my due diligence on the foreclose list..i came across with that word…pls advice thank you….

    Harry

    • http://www.foreclosurephilippines.com Jay Castillo

      Hi Harrison, my understanding of that term is that they can sell the property at its present state, with some problems(needs repairs, etc.) that are manageable. I would advice that you check with the bank what exactly those impairments are.

      • http://www.investingpinoy.blogspot.com Investing Pinoy

        Hi Jay!

        Re RCBC, meron daw silang “Non-exclusive purhcase agreement with option to sell”. This looks very promising don’t you think?

        Investment Opportunities for Pinoys
        http://www.investingpinoy.blogspot.com

        • http://www.foreclosurephilippines.com Jay Castillo

          Hi Bryan, this is good news! My only concern however is the high pricing for RCBC foreclosed properties. I hope RCBC Savings Banks also has the “Non-exclusive purhcase agreement with option to sell”.

          • http://www.investingpinoy.blogspot.com Bryan Uy

            Hi Jay,

            Magkaiba pa pala ang Savings Bank nila? I just learned that from you recently.

            Sana nga pwede, that would really be helpful for us investors.

            Investment Opportunities for Pinoys
            http://www.investingpinoy.blogspot.com