SSS Acquired Assets For Sale (PDI – March 20, 2009)

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I just want to share this listing from the Social Security System (SSS) of their acquired assets for sale which was published in the March 20, 2009 issue of the Philippine Daily Inquirer. Credit goes to my Mom who gave me a copy of the ad. Thanks Ma!

The properties included in this listing of acquired assets are from Bulacan, Antipolo, Laguna, Las Pinas, Cavite, Tarlac, Pampanga, and Pasig City.

I already made an inquiry by phone and found out that except for the condo units, all properties on the list are just residential lots. I also asked about rental rates for the condo units and I was advised that these are around php5,000 per month, according to Marife from the SSS Asset Management Department. By the way, the properties on the list are not foreclosed properties. These became acquired assets of the SSS when they were used as payment for a loan through a dacion en pago(payment in kind), most probably as a means to stop foreclosure.

Take note that most of the condo units are currently occupied by lessees or tenants and they shall be given priority to purchase the units they occupy. For units whose occupants are not interested in buying them, they shall be available to interested parties but buyers are required to honor the existing lease contracts. Real estate investors might find this favorable as there would no longer be a need to look for tenants.

Payment terms are very attractive as cash sales will get an additional 5% discount while installment sales only require 5% as down payment. Interest rates are also hard to beat at only 6% per annum for properties with selling prices of Php500,000 and below while those priced above Php500,000 are at 9% per annum. The maximum payment period of the loan balance is 10 years.

Download the complete listing of SSS acquired assets for sale here.

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You may refer to the complete terms and conditions and requirements below:

Terms and conditions:

Cash Sale:

5% Discount on Selling Price

Installment Sale:

Downpayment: 5% of Selling Price
Repayment Period of Balance: 10 years maximum
Interest Rates :

  • 6% per annum for Php500,000 & below
  • 9% per annum for over Php500,000

Mode of Payment: Issuance of Postdated Checks

*Present Lessees shall be given priority to purchase the units.
*Buyer shall honor the existing lease contract

Requirements:

  1. Letter of Intent to Buy
  2. Certification of Employment & Compensation
  3. Accomplished Buyer’s Information Sheet

Note: This offer is for direct buyer/s only and valid until October 31, 2009

Happy investing!

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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 was an I.T. Manager that loved to make things work, which is exactly what he did when he crossed-over to Real Estate Investing and Internet Marketing. He is also a licensed real estate broker with PRC License # 3194 ... [Continue reading]

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  • juliel enriquez

    kidly send me your list of foreclosed house or lot in mexico,mabalacat and angeles pampanga thank you

  • Dannajimenez

    Hello! Do you have SSS list of foreclosed properties for this year? Thank you!

  • josephine cezar

    Kindly inform me of some of your list of foreclose house in angeles city or nea,r our area,tnx!

  • JP Sharon

    Hi! Can you please send me the foreclosed listings in Baguio City. Thanks!

  • srah acapulco

    hi can u pls send me foreclosed listings in davao city. tnx

  • kaleijoscope

    hi,im an ofw interested to buy a single detach houseand lot below 1m thru sss hsng loan…got anything like dat on ur list?

  • Frediz

    Please send me foreclosed listings within Pag-asa Subd. Imus Cavite. thanks

  • June Kathleen Matic

    kidly send me your list of foreclosed houses in tarlac city 2011. thanks

  • http://DHTp bert galicia

    please update your data this is march 2009

  • norma

    Hi any listings of foreclosed real properties in Davao City.

  • Bella

    Hi, any idea if they have acquired assets for sale in cebu?

    thanks

  • Jay Castillo

    Hi Anonymous, prices could be negotiable but I haven’t tried yet. If one could check the TCT to see the mortgaged amount, that could be a good starting point.

  • Jay Castillo

    Hi Teamchi, you’re welcome!

  • Anonymous

    do you think it’s possible to negotiate the price with the SSS acquired assets? If yes, how much should I offer?

  • teamchi

    Thanks to you and your mom :)