Just like the DBP acquired assets in my previous post, these bank acquired properties from the Land Bank of the Philippines are also for sale on CASH BASIS through a public sealed bidding. The deadline for the submission of sealed proposals will be on June 15, 2011, 1:00pm, at the Land Bank La Union-Ilocos Lending Center, San Fernando City, La Union, Philippines.

As stated on the Invitation To Bid, sealed proposals require a 10% bid bond. Furthermore,  the sale of the properties shall be on an “AS-IS-WHERE-IS” basis, and prospective bidders are enjoined to inspect the listed properties before entering their bids. In other words, interested parties are reminded to do their due diligence.

Invitation to Bid

Please refer to the Invitation To Bid below which contains a list of all of the bank acquired properties for sale, a list of LandBank branches where bidding forms are available, and other details.

LANDBANK LA UNION-ILOCOS LENDING CENTER ACQUIRED ASSETS SEALED BIDDING - JUNE 15 2011 (CLICK TO VIEW/DOWNLOAD-OPENS IN NEW TAB/WINDOW)

This invitation to bid was also published in the Philippine Star last June 2-4, 2011.

Reminders

Since the invitation to bid does not indicate any contact details, I suggest that interested parties direct all inquiries to the LandBank branches as indicated on the invitation to bid.

Happy hunting!

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.

PS. Facing foreclosure? Tired of being a landlord? Need to liquidate your proprty because you need money? Click here to sell your property fast!

Land Bank La Union-Ilocos Lending Center slates sealed bidding on June 15, 2011 is a post from: Foreclosure Investing Philippines

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As promised, here is the first installment for listings of foreclosed properties that I got from the recent 4th Housing Fair (2009). For this installment, I will be featuring the list of foreclosed properties from The Land Bank of the Philippines. By the way, I would like to greet Roel, Dan and his nephew, and Paula who I met during the 3-day event. It was nice meeting all of you!

This listing of Land Bank of the Philippines foreclosed properties available for negotiated sale is updated as of November 30, 2009.

The available foreclosed properties for sale are from the following areas:

Metro Manila

• Caloocan
• Las Pinas City
• Makati City
• Mandaluyong City
• Manila
• Marikina City
• Muntinlupa City
• Navotas
• Paranaque City
• Pasig City
• Quezon City

Metro Manila – Suburbs

• Antipolo City
• Bulacan
• Cavite
• Laguna
• Rizal

Provincial

• Baguio City
• Batangas
• Bicol
• Butuan
• Cagayan De Oro City
• Davao City
• Davao Del Sur
• Iligan City
• Iloilo City
• Koronadal City
• Lanao Del Norte
• Negros Occidental
• Occidental Mindoro
• Pampanga
• Surigao Del Sur

The Land Bank properties for sale include Lots w/ Improvements, office and residential condominiums, parking slots, lots only, and chattels.

Click here to download the complete listing of Land Bank of the Philippines properties available for negotiated sale as of November 30, 2009.

I got this from the very friendly and accomodating people of LandBank at the Land Bank booth during the 4th Housing Fair.

Please do take note of the status of each property as some have occupants, while others are on lease and are bank owned properties. There are also a few that have pending court cases, illegal occupants, or have annototations of lis pendens and adverse claims. Personally, I would rather avoid those that are occupied or have pending court cases.

If you have any questions regarding financing terms or any of the properties on the list, please don’t hesitate to contact the contact person as specified on the listing (right most column) using the telephone numbers near the bottom of each page.

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

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.

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.

Foreclosed properties for sale from Land Bank of the Philippines as of November 30, 2009 is a post from: Foreclosure Investing Philippines

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I attended the first day of Philippine Housing Fair yesterday and I’m glad I did. Aside from updated listings of acquired assets and foreclosed properties, I was also looking for any free seminars or talks about topics that can be of help to anyone who wants to get involved in real estate. For my purpose, I’m glad I was able to attend but should you also attend? It really depends. Please continue reading to learn more.

Acquired assets and foreclosed property listings
For banks and other private lending institutions, I was able to get a copy of foreclosed property listings from Land Bank, and the Star Accounts Management Services, Inc.( A member of the STAR Group of Companies). I also registered in Chinatrust’s booth so that I can get updated listings through e-mail (thanks to the friendly people from Chinatrust). I was also looking forward to visiting the BPI Buena Mano booth but it was still empty when I left at around 1:30pm. Maybe I’ll get to see them on the second or third day of the housing fair.

Don’t worry, I’ll be sharing all of these listings of acquired assets and foreclosed properties in my upcoming posts.

With regard to acquired assets and foreclosed property listings from key shelter agencies and government financial institutions, at first I was a bit disappointed when majority of them just had limited copies of their listings and people had to line up to look at the listings of foreclosed properties and then they had to copy the details pertaining to the properties they were interested in.

People line up to look at the list of foreclosed properties from Pag-IBIG

Not really the most efficient setup if you ask me. Even a speaker from Pag-IBIG mentioned during one of the talks that people really had no need to line-up to look for properties because they can just visit their updated listings online. I can’t help but think that if your only purpose was just to look for updated listings of properties, you can do the same by just visiting their websites without the hassles of lining up and manually copying property details.

Anyway, to help provide easy access to their online listings, please refer to the direct links below to the listing of acquired assets/foreclosed properties of each individual key shelter agencies and government financial institutions:

• Home Guaranty Corporation (HGC)

http://www.hgc.gov.ph/downloadable/December_14_2009.pdf

• National Home Mortgage Finance Corporation (NHMFC)

http://www.nhmfc.gov.ph/index.php?option=com_content&view=article&id=44&Itemid=56

• Home Development Mutual Fund (Pag-Ibig Fund)

http://www.pagibigfund.gov.ph/hf/aa.aspx

• Bangko Sentral ng Pilipinas (BSP)

http://www.bsp.gov.ph/loans/asset_properties.asp

• Government Service Insurance System (GSIS)

http://www.gsis.gov.ph/content.asp?ContentId=598

• Social Security System (SSS)

http://www.sss.gov.ph/sss/index2.jsp?secid=1&cat=9&pg=null

Free talks and seminars
I was able to get a copy of the program of activities from the HUDCC booth and was happy to find out that there will be a talk on How to detect a fake title which should come in handy when we do our due diligence and this will be held on the second day which is on Monday, December 28, 2009, from 4:15pm to 5:00pm. This means I will be attending day 2 of the event and I also look forward to the other topics. Please see below the complete program of activities and see if any of the topics interest you.

4th Housing Fair 2009 Program of Activities

December 27, 2009 (Sunday)

10:00 a.m. – 10:45 a.m.

NHMFC Programs
Ms.Tita R. Puzon
Manager
Asset Management Department (NHMFC)

10:45 a.m. – 11:30 a.m.

How to avail of Housing Loan from Pag-IBIG?
Ms. Caressa Pascua
Acquired Assets Officer II
Acquired Assets Department (Pag-IBIG Fund)

11:30 a.m. – 12:30 p.m.

Raffle/Lunch Break

12:30 p.m. – 1:15 p.m.

BSP Housing Program
Ms. Louella Veloro
Acting Deputy Director
Assets Management Department (BSP)

1:15 p.m. – 2:00 p.m.

HGC Programs
Ms. Ma. Caridad Calingo
Manager
Sales and Marketing Department (HGC)

2:00 p.m. – 3:00 p.m.

Ribbon Cutting to be led by His Excellency Vice President Noli De Castro
Tour of Exhibits
(Pag-IBIG Fund Chorale to render Christmas carols during the tour)

3:00 p.m. – 5:00 p.m.

Song number by Apple Chiu of Singing Bee

5:00 p.m. – 6:00 p.m.

Raffle

December 28, 2009 (Monday)

10:00 a.m. – 12:00 p.m.

Participating Exhibitors Product Presentation

12:00 p.m. – 1:00 p.m.

Raffle/lunch Break

1:00 p.m. – 2:00 p.m.

SSS Dance Troupe

2:00 p.m. – 2:45 p.m.

SSS Housing Program
Mr. Tomas Ramirez
Section Head
Real Estate Department (SSS)

2:45 p.m. – 3:30 p.m.

How to avail of Housing Loan from Pag-IBIG?
Ms. Mayette Donato
Senior Accounts Management Specialist
Acquired Assets Department (Pag-IBIG Fund)

3:30 p.m.  – 4:15 p.m.

How to identify Professional Squatters and Squatting Syndicates and their Modus Operandi?
Police Sr. Inspector Arnulfo Celestial
National Police Task Force Against Professional Squatters & Squatting Syndicate

4:15 p.m. – 5:00 p.m.

How to detect a fake title?
Mr. Emil Pugongan
Manager, One-Stop-Shop
Land Registration Authority

5:00 p.m. – 6:00 p.m.

Raffle

December 29, 2009 (Tuesday)

10:00 a.m.  – 11:00 a.m.

Participating Exhibitors Product Presentation

11:00 a.m. – 12:00 p.m.

SSS Chorale

12:00 p.m. – 12:30 p.m.

Raffle/Lunch Break

12:30 p.m. – 1:15 p.m.

Community Mortgage program (CMP) orientation
Ms. Elvira Inton
Division Chief
Public Affairs Department (SHFC)

1:15 p.m. – 2:00 p.m.

GSIS Housing Program
Mr. Jose Antonio Bayoneta
Vice President
Marketing and Housing-NCR (GSIS)

2:00 p.m. – 2:45 p.m.

How to avail of Housing Loan from Pag-IBIG?
Mr. Herminio Ruiz
Account Officer III
Acquired Assets Department (Pag-IBIG Fund)

2:45 p.m. – 3:30 p.m.

Why Deal with Licensed Brokers?
Ms. Edith Barrameda
Regional Officer
NCR (Expanded) – Field Office (HLURB)

3:30 p.m. –  4:15 p.m.

NHA programs: North and South Rail Project
Arch. Susan Nonato
Deputy Area Management Officer
Southern Bicol Region (NHA)

4:15 p.m. -5:00 p.m.

Socialized and Low-Cost Housing Condonation and Loan Restructuring Program
Mr. Zacarias Abanes
Director, Policies and Program Development
Housing and Urban Development Coordinating Council (HUDCC)

5:00 p.m. onwards

Raffle and Closing Program
Asec. Pamela Felizarta (Closing Remarks)

Happy Hunting and I hope to see you there!

—

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

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.

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.

I attended the 4th Housing Fair 2009 at SM Megamall is a post from: Foreclosure Investing Philippines

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Here is an invitation to bid for acquired assets of Land Bank of the Philippines (LBP) which are for sale on CASH and “AS-IS-WHERE-IS” basis. Sealed bids together with 10% bid bond will be received by the Special Assets Department (SPAD), 30th Floor, LandBank Plaza, Malate, Manila on July 23, 2009, not later than 9:30am.

The sealed bidding was originally scheduled for July 9, 2009 but LBP came out with a Notice to the Public that the public bidding will be held on July 23, 2009 instead. I was no longer supposed to post this as I got this list of acquired assets a bit late but fortunately, the sealed the bidding was moved to the new date.

The bid bonds shall be in the form of Cashier’s or Manager’s Check issued by any commercial bank payable to LBP for bid bond in excess of Php5,000.00. Cash payment for bid bonds of not more than Php5,000.00 shall be deposited at least one banking day before bidding date to the LBP Cash Department after issuance of a Payment Acceptance Order by SPAD. For more details, please refer to the invitation to bid.

The acquired assets on the list are from Cebu City, Koronadal City, Ternate Cavite, Las Pinas City, Rosario Cavite, and Sampaloc Manila.

Click here to download the Land Bank of the Philippines Invitation To Bid which contains the list of acquired assets for sealed bidding on July 23, 2009. (Source – Philippine Daily Inquirer, June 27, 2009, Page A-4)

For more information, please visit or call the SPAD at telephone no. 551-2200 locals 2374, 2481, 7156, 2482, and 7645.

Happy investing!

To our financial freedom!

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

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

Land Bank of the Philippines Acquired Assets For Sealed Bidding On July 23, 2009 is a post from: Foreclosure Investing Philippines

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The Metro Manila portion includes properties from Makati, Caloocan, Navotas, Manadulyong, Manila, Las Pinas, Pasig, Valenzuela, Muntinlupa, Quezon City, Paranaque, Antipolo, Laguna, Bulacan, San Mateo, and Cavite while the provincial portion includes properties from Bicol, Butuan, Bacolod, Baguio, Batangas, Cagayan De Oro, Davao, Davao Del Sur, Iligan City, Iloilo, Lanao Del Norte, Negros Occidental, Occidental Mindoro, Surigao Del Sur, and Tarlac.

Please take note that there are a number of properties on the list that have lis pendens, illegal occupants, no right of way, and pending court cases. I personally would avoid such properties and I would advice all of you to do the same.

Click here to download the Land Bank of the Philippines Properties For Negotiated Sale as of March 31, 2009.

To our financial freedom!

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

Land Bank Of The Philippines Properties For Negotiated Sale as of March 31, 2009 is a post from: Foreclosure Investing Philippines

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I got this listing of foreclosed properties from the Land Bank of the Philippines courtesy of Mr. Joevel Cabrera, who works at Land Bank. This listing of bank acquired assets are for negotiated sale, this means all prices are still negotiable. According to the list, this is updated as of December 31, 2008.

The foreclosure listing contains over one hundred foreclosed properties and includes properties from Metro Manila and Provincial locations.

Buyers have three options of acquiring foreclosed properties from Land Bank and these are through cash basis, installment sale, and through lease with option to purchase.

For installment basis, interest rates indicated on the terms on acquiring foreclosed properties are as follows: (rates for 1st Qtr 2008)

# of Years—–Interest Rate

1———–8.50 %
2———–9.25 %
3———–9.50 %
4———–9.75 %
5———–10.00 %
7———–10.25 %
10———-10.50 %

For Lease with option to purchase, the lessee must do the following:

- lease the property for a maximum period of 1 year
- exercise the option to purchase not later than 15 days before the expiration of contract
- pay 1 month advance rental applicable on the last month and 2 months security deposit, refundable if option is not exercised
- pay 5% of the purchase price, refundable if option is not exercised
- If option is exercised, 90% of the annual lease, 2 months security deposit and 5% option fee shall be applied to the purchase price

This is the first time I have seen a bank that offers the option for buyers to acquire foreclosed properties through a lease with option to purchase. I believe that this could be very advantageous to buyers, especially for new real estate investors as one can first try to lease a property, effectively giving him/her control of it, then he/she can sublease the property to a tenant and have a crack at being a landlord, without actually having to buy the property. This means less risks for the buyer as he/she can have more than eleven months to try being a landlord before deciding if he/she wants to exercise the option to purchase the property. Not a bad way for a first timer to acquire his/her first real estate investment property, right? Anyway, this is based on the assumption that the bank will allow subleasing, better check with the bank beforehand if one plans to do this.

You may download Land Bank’s list of foreclosed properties here and their terms on acquiring foreclosed properties here.

If you’re interested in any of the properties or have any questions or inquiries, you may contact Mr. Joevel Cabrera through e-mail. His e-mail address is jonvex@yahoo.com. Just mention to him that I referred you.

Don’t forget to subscribe to my mailing list so you won’t miss any new foreclosure listings free to download, and investing tips. If your mailbox is getting full, you may also subscribe via RSS reader. You may also forward this to your relatives and friends who might be looking at investing in foreclosures.

Land Bank of the Philippines Foreclosed Properties for Sale as of December 31, 2008 is a post from: Foreclosure Investing Philippines

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