I recently answered an e-mailed question from a reader of Foreclosure Philippines who was also an attendee of the Think Rich Pinoy seminar held last November 21, 2009, where I was a guest speaker. Actually, our featured reader sent her e-mail last November 25, 2009, a few days after the Think Rich Pinoy seminar, but I was only able to answer her e-mail a few days ago… me bad!

Anyway, I noticed that I often receive very similar questions not only from other readers but also from people I meet who find out that I invest in foreclosed properties which is why I believe that it would be a good idea to feature it here, please continue reading below. Read the rest of this entry

Just wanted to share this list of repossessed cars for sale from Unionbank. The bidding period for the repossessed cars on the list is from January 11-19, 2010. Yes, bidding is ongoing and the deadline for submission of bids is on January 19, 2009. I thought the BMW on the list was the same one in a previous listing of repossessed cars but it turns out this was a different one. Read the rest of this entry

CBRE will hold its Property “Pac-yawan” Bazaar Christmas Public Auction of bank acquired properties this coming December 10, 2009, Thursday, 3:00PM, at the Brasserie, 21st Floor, Security Bank Bldg., Ayala Avenue, Makati City, Philippines. Show Money is only Php25,000. Bank financing is available but if not approved, in-house financing can be considered, subject to management’s approval. Read the rest of this entry

RCBC Savings Bank is having another pre-owned Car Sale through their latest Great Deals on Used Wheels promo. The pre-owned car sale runs from November 9 to 13, 2009. Bank financing is available for the bank repossessed cars and they can be purchased for as little as 20% down payment, and at low interest rates. For financing inquiries, please call Rico: 09189051911 / Allan: 634-5173 / Daniel: 09189903805.

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Finally, Buena Mano Property Sales and Leases has released their Q3-2009 catalogues of bank foreclosed homes. However, we were only able to get a copy of the Yellow Tag listing of bank foreclosed homes for Metro Manila. My wife and I already visited a number of branches of BPI in Makati and Libis but we only found the Yellow Tag listings available in their main office in Makati. Either they only printed a few copies of the catalogues or there was a high demand for the Green Tag and Red Tag listings and they ran out of copies.

The Yellow Tag listing we got already includes both  Super Value and Prime bank foreclosed properties for sale. Foreclosed properties are classified as Super Value properties if they are priced below Php10M and those priced Php10M and above are classified as Prime foreclosed properties. All of these properties are for negotiated sale. Read the rest of this entry