The City Treasurer of Quezon City shall be holding an auction sale of real properties with delinquent tax payments on land, building, and machineries on December 10, 2009 at the main entrance, Taxpayer’s lounge, Quezon City Hall, Diliman Quezon City, Philippines.

You may download the list of tax delinquent properties to be included in the tax foreclosure auction sale on December 10 through the links below. This list is updated as of November 23, 2009 and was published in the Philippine Star:

• Quezon City Tax Delinquent Properties Page 1
• Quezon City Tax Delinquent Properties Page 2
• Quezon City Tax Delinquent Properties Page 3

In tax foreclosure auctions, winning bidders will have to pay the whole winning bid amount in cash before the end of the second day from the auction date. Furthermore, the owners are given 12 months to redeem their property. If the property is redeemed within 12 months, the winning bidder will get his/her money back plus interest at a rate of 2% per month. For more information, you may download a copy of the rules and regulations below:

• Quezon City Rules, Regulations, and Conduct of the Real Property Tax Auction sale.

I would advice interested parties to verify the properties that are to be included in the tax foreclosure auction sale by getting an updated list at the Quezon City Treasurer’s office. Since a lot of the owners of the real properties on the list would actually pay their real property taxes as the day of the auction nears, expect a lot of properties to be withdrawn from the final list of properties to be included in the auction.

Don’t forget to do your due diligence before even considering to bid on any of the properties included in this tax foreclosure auction. You may refer to my previous post: Quezon City Tax Delinquent Properties public auction sale on October 8, 2009 where I enumerated general steps as reference when doing your due diligence with respect to tax delinquent properties in Quezon City.

Note: I am posting this as a service to readers and subscribers of Foreclosure Philippines. For further information and inquiries, including but not limited to specific questions about any of the properties on the list, please contact or visit the Office of the Provincial Treasurer of Quezon City.

Happy hunting!

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My vision – financial freedom for all!

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

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

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City Treasurer of Quezon City to auction tax delinquent properties on December 10, 2009 is a post from: Foreclosure Investing Philippines

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Here’s a heads-up for both Quezon City taxpayers who might be delinquent in paying their real property taxes and for real estate investors who may want to help. I accidentally found this notice on the same issue of the Philippine Star where I got the complete listing of tax delinquent properties from the Province of Rizal which was recently auctioned in Antipolo City.

Anyway, before I explain how real estate investors can help those delinquent in paying their real property taxes, let me share more details about the tax foreclosure auction sale to be held in Quezon City. The Quezon City Treasurer shall be holding the auction sale of real properties with delinquent tax payments on land, building, and machineries on October 8, 2009, 10:00 A.M., at the 2nd floor of the Taxpayer’s Lounge, Quezon City Hall. Furthermore, all Quezon City taxpayers who may be delinquent in paying their real property taxes are advised to settle/update their realty tax arrearages before the date of the auction sale (October 8, 2009) to avoid inclusion of their properties.

(Source: Philippine Star, September 7, 2009 issue, page B13)

Time for Due Diligence

As usual, all prospective bidders are also requested to do their due diligence and verify the properties they may want to bid on at the Quezon City assessor’s office and the Register of Deeds of Quezon City. In summary, you can do this by:

1. Get the updated list of tax delinquent properties for auction at the Quezon City Treasurer’s Office
2. Get the tax declaration number and other important details that you will bring to the tax mapping section
3. Give the property details you got in step 2 above to the tax mapping section so that they can give you property details like the exact address, location, Transfer Certificate of Title (TCT) number, etc. You can also ask for more details that they may know about the property (ex. if it will be affected by a road widening project in the future, etc.)
4. From the information you got from step 3 above, you can then proceed to Quezon City register of deeds which is located in East Avenue to get a certified true copy of the TCT.
5. You can then inspect the property if you want along with other due diligence tasks.

How can real estate investors help?

As I have mentioned in the beginning of this post, real estate investors can help those Quezon City taxpayers who might be delinquent in paying their real property taxes. This can be done by paying the arrears in real property taxes, penalties and other costs (all of which are equal to the minimum bid price) for the property owner through a winning bid. This basically buys some time for the property owner (12 months to be exact and is referred to as the redemption period) to settle his/her arrears.

As an incentive, the winning bidder earns an interest of 2% per month and he/she will receive this once the property owner is able to settle his tax arrears within the 12 month redemption period.

Click here to download a complete copy of the Quezon City Rules, Regulations, and Conduct of the Real Property Tax Auction sale.

As I have often said in the past, it would be better to invest in real property tax foreclosures without the intention of actually getting the property. I believe this is a win-win solution for everyone – the owner gets another 12 months to come up with enough funds to settle his arrears, the local government gets to collect the taxes they need to fund their operations and local projects, and the real estate investor gets to earn 2% per month or up to 24% for 12 months by buying some time for the property owner and also for helping the local government collect taxes. By the way, I stumbled upon the comments section of an article I found in philfaqs.com which explains this very well, please do check it out here: http://philfaqs.com/phils-business/make-money-at-home-free-education-know-what-donald-trump-knows/#comment-14895

Sorry if I am unable to post an updated list of the Quezon City delinquent properties for public auction. Ever since our house was devastated by the floods last week, we have been very busy picking up the pieces and relocating to a place we can temporarily live-in while our house is being repaired and becomes livable again. A big thank you goes out to all of those who gave words of encouragement and prayers. Let’s continue praying for and helping those that were affected by the recent typhoons.

By the way, it’s nice to be back!

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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

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

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 instead to my RSS Feed.

Quezon City Tax Delinquent Properties public auction sale on October 8, 2009 is a post from: Foreclosure Investing Philippines

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