Foreclosure Philippines » Auction

July 3, 2010 auction of repossessed properties slated by Star Properties

Jay — Thu, 01 Jul 2010 06:25:08 +0000

Star Properties shall be conducting another round of their Star Auctions on July 3, 2010, at Max’s Star Mall, Edsa cor. Shaw Boulevard, Mandaluyong City, Philippines. Registration starts at 9:00am and the auction starts at 10:00am. This auction of repossessed properties was originally scheduled for June 19 and will push through on July 3, 2010 instead, which is turning out to be a very busy day. On the same day, Property Forum Philippines will also conduct the Subastahan ni Papa Auction and Independence Day Auction. I will also be attending the Money Summit and Wealth Expo on that day.

Anyway, based on the auction announcement, one can buy repossessed properties for as little as 10% downpayment, and with the balance payable up to 5 years at 15% interest per anum, or through bank financing. A “Knock out deal” option is also available where properties can be reserved prior to the auction. Now there is no need for 5% add-on.

Locations of repossessed properties

Repossessed properties up for grabs in “The Star Auction 2010″ on July 3 are from the Greater Manila Area and available locations per property classification are as follows:

Residential repossessed properties

Caloocan
Las Pinas
Malabon
Makati
Manila
Paranaque
Pasay
Pasig
Quezon City
Rizal
San Juan
Valenzuela

Commercial repossessed properties

Las Pinas
Makati
Quezon City
Rizal
Valenzuela

Agricultural repossessed properties

Rizal

Industrial repossessed properties

Paranaque
Quezon City
Valenzuela

Mixed-use repossessed properties

Caloocan
Quezon City

Memorial repossessed properties

Taguig

How to join this auction of repossessed properties

1. Click here to download a copy of the listing in PDF format or click on the image below to download a copy in JPG format.

Source: Star Properties Booth, REBAP National General Membership Meeting, June 24, 2010, Quezon City Sports Club

2. Call Star Properties, Inc.. directly to get more details about the property that interests you and also to schedule a property inspection if warranted. Their telephone numbers can be found on the listing above.

3. Do your due diligence by checking the legal condition of the property through its Transfer of Certificate of Title(TCT) or Condominium Certificate of Title (CCT), Tax declaration, etc. It is also advisable to check for any arrears for Homeowner Association dues/Condo dues, Utilities like water and electricity, real property taxes, etc. Please refer to these set of questions which can also help with your due diligence.

4. Attend the auction to bid if and only if the property passed your due diligence. Show money is Php10,000.00 cash or Manager’s Check per property payable to STAR ASSET MANAGEMENT ROPOAS, INC.

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 consolidation in the seller’s name. Interested parties are therefore advised to check the title, the physical and legal condition of the property prior to the scheduled auction. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property any time. Changes in prices are subject to the sole discretion of the seller.

About Star Properties Inc.

STAR Properties is one of the companies belonging to the Star Group of Companies. The STAR GROUP specializes in the acquisition, management and disposition of personal and real properties and is basically structured into these three main components – acquisition, management and disposition of properties. It has so far acquired over three thousand properties located across the Philippines, ranging from residential, commercial and industrial properties.

Source: http://www.stargroupph.com/stargroupph_modx/index.php?id=3

Reminders – Please read!

For inquiries specific to any of the repossessed properties on the list, please contact Star Properties Inc. directly through the contact numbers which can be seen on the list and also above. I am not accredited with Star Properties Inc. so I really can’t answer questions about any of the properties on the list. I am just posting this as a public service to readers and subscribers of ForeclosurePhilippines.com

For other questions, please post them through a comment below so that others with the same questions may also benefit from the answers. Thank you.

Happy Hunting!

To our success and financial freedom!

Jay Castillo

Real Estate Investor

Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

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Star Properties Inc.’s “The Star Auction 2010!” slated on May 15

Jay — Thu, 06 May 2010 03:51:21 +0000

Get ready for the coolest price-offs this summer as Star Properties Inc, conducts another auction of foreclosed properties in the May 15, 2010 edition of The Star Auction 2010! The venue for this auction will be Max’s Star Mall in Mandaluyong City, Philippines. Registration starts at 9:00AM and the auction proper starts at 10:00AM. More details after the jump…

Show money

Show money of Php 10,000.00 cash or Manager’s Check per property payable to STAR ASSET MANAGEMENT ROPOAS, INC. is required to participate in the auction.

Payment terms

Only 10% Downpayment is required with the balance payable up to 5 years at 15% fixed interest rate per annum. I wish they made the payment term up to 10 years to pay to attract real estate investors who intend to go for financing and have positive cashflow. With such a short payment term, it would be hard to find such deals unless investors looked at other means to finance their deals.

Knock out option

Knock out option is available where one only has to add 5% on top of the list price to reserve a property before the auction. This would avoid what usually happens where prices get higher and higher as bidders try to outbid each other. I’m sure however that a lot of people might find the additional 5% quite high as the knockout option for other auctions like some of those from Property Forum Philippines only require an additional one Peso (Php 1.00) on top of the list price.

Locations of foreclosed properties

The locations of the foreclosed properties for sale include the Greater Manila Area, Luzon, Visayas, and Mindanao, and these include a mix of residential, commercial, agricultural, industrial, and mixed-use types of foreclosed properties .

They even have memorial lots but the payment terms for these are 10% Downpayment with the balance payable up to 6 months at 0% interest.

Just download the complete listing of foreclosed properties below for more details.

Click here to download the listing of foreclosed properties included in The Star Auction on May 15, 2010

Source: Manila Bulletin, May 2, 2010 edition, Page 4 of main section

If you are interested on any of the foreclosed properties on the list, please contact Star Properties Inc. directly using the contact details on the listing which you can download by clicking on the link/thumbnail above.

Disclosure: I am not accredited with Star Properties Inc. and I am just posting this listing as a public service to readers and subscribers of foreclosurephilippines.com. Do take note that if I do get accredited in the future, I may no longer be able to share listings of Star Properties like this, depending on the terms and conditions of accreditation, which I am evaluating at the moment.

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 consolidation in the seller’s name. Interested parties are therefore advised to check the title, the physical and legal condition of the property prior to the scheduled auction. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property anytime. Changes in prices are subject to the sole discretion of the seller.

Happy hunting!

To our success and financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Like this in Facebook:Foreclosure Philippines facebook page

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

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Foreclosed properties auction slated on February 27, 2010 by Star Properties Inc.

Jay — Thu, 11 Feb 2010 03:24:01 +0000

Star Properties Inc. shall be having an auction of foreclosed properties as they hold The Star Auction 2010 on February 27, 2010, 9:00AM, at Max’s Restaurant, Jupiter Street, Makati City, Philippines. Registration of bidders start at 8:00AM. The foreclosed properties for sale in this auction include properties from the Greater Manila Area, Luzon, Visayas, and Mindanao.

Foreclosed properties can be acquired for as little as 10% downpayment with the balance payable in 5 years and at 15% per annum fixed interest rates. Not exactly the most attractive terms if you ask me considering other foreclosed property auctions normally give up to 15 years to pay.

Interested bidders have the option to knock out foreclosed properties by simply adding Php1.00 on top of the list price to reserve a property before the auction.

Types and location of the foreclosed properties for sale

Here is a summary of the types and locations of the foreclosed properties for sale included in the auction on February 27.

Residential – Greater Manila Area

Caloocan
Las Pinas
Malabon
Makati
Manila
Marikina
Paranaque
Pasay
Pasig
Quezon City
Rizal
San Juan
Taguig
Valenzuela

Commercial – Luzon

Batangas
Bicol
Nueva Ecija
Pampanga
Quezon Province
Tarlac

Industrial – Greater Manila Area

Paranaque
Quezon City
Valenzuela

Industrial – Luzon

Isabela

Industrial – Visayas

Negros Occidental
Davao
General Santos
Maguindanao
Tagum

Mixed use – Mindanao

Bukidnon
General Santos

Click here to download the complete listing of foreclosed properties in The Star Auction 2010 on February 27, 2010

Source: Bulgar, February 8, 2010 issue, Page 3

Interested?

To get more details for any of the foreclosed properties on the list, please contact Star Properties, Inc. directly using the contact information on the list above. Remember, I am posting this listing of foreclosed properties as a free service to subscribers of foreclosurephilippines.com. As of writing this, I am neither connected nor accredited with Star Properties, Inc.

To attend the auction, show money is only Php10,000 cash or manager’s check per property payable to STAR ASSET MANAGEMENT ROPOAS, INC.

The fine print

All properties are offerred on an “As-is, Where-is” basis. Titles of properties are either under the seller’s name or under various stages of consolidation in the seller’s name. Interested parties are therefore advised to check the title, the physical and legal condition of the property prior to the scheduled auction. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property anytime. 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
Click here to contact me via E-mail
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page

PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

PPS. If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe through my RSS Feed instead.

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Plantersbank foreclosed cars for sale via auction on November 13, 2009

Jay — Fri, 06 Nov 2009 04:41:52 +0000

I recently found a list of foreclosed cars for sale via auction from Plantersbank and as usual, I am posting it here for the benefit of those looking for cheap used cars. These foreclosed cars from Plantersbank shall be sold via public auction through sealed bidding and the deadline of submission of bids is on November 13, 2009, 12:00pm.

Interested parties may inspect the foreclosed cars on November 4 and 11, 2009, from 10:00am to 3pm. Yes, they have allotted only 2 days for the inspection of the cars and day 1 has already passed. I apologize for not posting this sooner.

Bidders may submit their offers to the PDB Auditing department at the 9th floor, Plantersbank Building 314 Sen. Gil Puyat Ave., Makati City and at their Warehouse located at 292 Susano Road, Camarin Caloocan.

For inquiries, you may also call (02)884-7600 / (02)884-7800 loc 6171-6176 / (02) 892-0559 or (02) 812-4958 and look for Mr. Allan Portento or send an e-mail to ajportento@plantersbank.com.ph

By the way, after cross checking with their website, I found out that the foreclosed cars were also listed online but I noticed something different with one of the cars listed, its price was lower! It appears that the print ad that appeared in the November 1, 2009 issue of the Manila Bulletin already reflected reduced prices.

The following is what I found on the website of Plantersbank and I am posting it here for everyone’s reference. Take note of the minimum bid price of Php650,000.00 which appears to be outdated.

2007 Ford Focus Hatchback
Automatic Transmission
Gasoline Engine
Body Color: Black
Mileage: 27,747
Plate No. Ending in “2″
“As-Is-Where-Is Basis”
Minimum Bid Price: P650,000.00

In contrast, the price for the Ford Focus on the list of foreclosed cars that I found below, which I believe is the same one above, was only Php580,000. Take note that the mileage also increased a bit. Just click on the image below to enlarge and/or download the complete list of foreclosed cars from Planterbank.

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 [at] gmail [dot] com

P.S. – If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

P.P.S – If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe through my RSS Feed instead.

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