LandBank foreclosed properties/acquired assets are up for sale through a public sealed bidding on December 16, 2010, at the 30th Floor, LandBank Plaza, Malate, Manila, Philippines. Sealed bids and the required 10% bid bond will be received by the Special Assets Department (SPAD) up to 9:30am on the same day.

Please refer to the Invitation to Bid for LandBank foreclosed properties below for more details. (click to enlarge)

>>>Click here to download a copy of the invitation to bid in PDF format

Source: Philippine Star, November 28, 2010 edition, page b-9

One thing I noticed about this list of Land Bank foreclosed properties and acquired assets is it includes a condo unit from Kingswood, which is a condo I pass-by quite often in Makati City.

If I remember correctly, a similar condo unit that was included in an auction of UnionBank forclosed properties about 2 years ago, was sold for Php3.4 Million. However, the Invitation to Bid above indicates that the condo unit is occupied. If the occupant is a tenant, then I guess that would be okay. Otherwise, I would have second thoughts, but that’s just me.

Another interesting thing I noticed here is there are 8 commercial properties on the list that are located at the IBM Plaza in Eastwood City, Libis, Quezon City. The average selling price is Php45,000/sqm and it appears they can be bought individually. If you are interested with investing in foreclosed commercial properties, this just might be for you.

For more details

To get more details about this sealed bidding of LandBank foreclosed properties, you may either visit or call SPAD DIRECTLY* at telephone nos. 405-7366, 405-7248, 405-7247, and 405-7685.

You may also attend the Pre-Bid Conference on December 13, 2010, 2:00pm, at the 30th floor conference room, LandBank Plaza, 1598 M.H. del Pilar St., Malate. Just call LandBank’s SPAD for more information.

*I am neither connected nor accredited with LandBank of the Philippines. I am just posting this list as a public service to readers and subscribers of www.foreclosurephilippines.com

Heads up: more foreclosed properties and tax delinquent real properties for sale

Just a heads up: I will be posting four more listings of foreclosed properties and tax delinquent properties for public auction this December 2010.

These are from the Development Bank of the Philippines (DBP), The Philippine Deposit Insurance Corporation (PDIC), and another one which is powered by Property Forum Philippines.

The Quezon City Office of the City Treasurer will also be having an auction of tax delinquent properties.

It seems December 2010 is turning out to be a very busy month for real estate investors! Anyway, I will post all of these lists within the week. Please watch for them and don’t forget to subscribe and be notified once they are published.

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

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. I helped facilitate the Think Rich Pinoy Seminar last December 4, 2010 and it was truly awesome! It was a pleasure meeting those who attended (pictures to follow). The next Think Rich Pinoy Seminar will be on February 19, 2011.

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead!

LandBank foreclosed properties sealed bidding slated on December 16, 2010 is a post from: Foreclosure Investing Philippines

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Property Forum Philippines shall be conducting an “Independence Day Auction” of foreclosed properties on July 3, 2010, at Max’s Restaurant Jupiter Street, Bel-Air 1, Makati City, Philippines. Registration starts at 10:00am and auction proper starts at 11:00am. The acquired assets for auction appears to be a mix of PNB foreclosed properties, Allied Bank foreclosed properties, and properties from other banks.

You will notice that this auction immediately follows the “Subastahan ni Papa” auction which will also be held at the same venue, on the same day, but is from 8:30am to 10:00am.

Based on the auction announcement, one can buy foreclosed properties for as low 10% downpayment, and with up 10 years to pay. 

Locations of foreclosed properties

Foreclosed properties up for grabs in the “Independence Day Auction” are from the following areas:

Mega Manila foreclosed properties

• Antipolo
• Las Pinas
• Makati
• Mandaluyong
• Manila
• Quezon City
• Paranaque
• Pasig
• Tanay, Rizal
• San Juan
• Valenzuela

Luzon foreclosed properties

• Batangas
• Bulacan
• Cagayan Valley
• Cavite
• Isabela
• Laguna
• Laoag
• Naga City
• Nueva Ecija
• Pangasinan
• Rizal
• Tarlac

Visayas foreclosed properties

• Bacolod
• Capiz
• Leyte

Mindanao foreclosed properties

• Agusan Del Norte
• Cotabato
• General Santos
• South Cotabato
• Zamboanga

How to join this auction of foreclosed 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: Manila Bulletin, june 21, 2010 edition, page B-5

2. Call Property Forum Phils. directly to get more details about the foreclosed property that interests you and also to schedule a property inspection if warranted. For property inspections, please call Property Forum Phils. directly through the following numbers:

• (02) 534-9536
• (02) 534-6954
• 0921-672-2888

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 Php25,000.00 per property in the form of cash or Manager’s Check(MC).

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 title consolidation to seller’s name, thus protective buyers are advised to conduct their due diligence prior to entering into any contract with the seller. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. Changes in prices are subject to the sole discretion of the seller.

About Property Forum Philippines

Property Forum Philippines is considered by many as the No. 1 Property Auctioneer in the Philippines, with a nationwide network and over Php6.7 Billion sales from 67 auctions with more than 3,700 winning bidders.

Reminders – Please read!

For inquiries specific to any of the foreclosed properties on the list, please contact Property Forum Phils. directly through the contact numbers which can be seen on the list and also above. I am not accredited with Property Forum Phils. 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

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

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

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

Property Forum Philippines' Independence Day Auction slated on July 3, 2010 is a post from: Foreclosure Investing Philippines

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Another “Subastahan ni Papa” auction of foreclosed properties will be held on July 3, 2010, Saturday, 8:30am to 10:00am, at Max’s Restaurant Jupiter Street, Bel-Air 1, Makati City, Philippines. This auction of foreclosed properties is powered by The Property Forum Phils. and the auction will be conducted by Noli “El Subastajero” Alleje. The properties for auction are from Philmay Property, Inc. or PPI.

Based on the auction announcement, 10% downpayment is required to own a property, 20% is required to possess, and payment terms can be as long as 10 years to pay.

Locations of foreclosed properties

Foreclosed properties up for grabs in this auction are from the following areas:

Metro Manila foreclosed properties

• Antipolo
• Caloocan
• Manila
• Paranaque
• Valenzuela

Luzon foreclosed properties

• Albay
• Baguio
• Bataan
• Bulacan
• Cagayan
• Camarines Sur
• Cavite
• Ilocos Sur
• La Union
• Quezon Province
• Pampanga
• Rizal
• Tarlac

Visayas foreclosed properties

• Bacolod
• Capiz
• Cebu
• Negros Occidental

Mindanao foreclosed properties

• Davao
• Misamis Oriental

How to participate in the auction

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.

2. Call Property Forum Phils. directly to get more details about the foreclosed property that interests you and also to schedule a property inspection if warranted. For property inspections, please call Property Forum Phils. directly through the following numbers:

• (02) 534-9536
• (02) 534-6954
• 0921-672-2888

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 Php25,000.00 per  property in the form of cash or Manager’s Check(MC).

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 title consolidation to seller’s name, thus protective buyers are advised to conduct their due diligence prior to entering into any contract with the seller. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. Changes in prices are subject to the sole discretion of the seller.

About Property Forum Philippines

Property Forum Philippines is considered by many as the No. 1 Property Auctioneer in the Philippines, with a nationwide network and over Php6.7 Billion sales from 67 auctions with more than 3,700 winning bidders.

Reminders – Please read!

For inquiries specific to any of the foreclosed properties on the list, please contact Property Forum Phils. directly through the contact numbers which can be seen on the list and also above. I am not accredited with Property Forum Phils. 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
Mobile phone (Call/SMS): +639178843882
Follow me in Twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

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

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

Another "Subastahan ni Papa" auction of foreclosed properties slated on July 3, 2010 is a post from: Foreclosure Investing Philippines

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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

Text by Jay Castillo. Copyright © 2010 All rights reserved.

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

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

Star Properties Inc.'s "The Star Auction 2010!" slated on May 15 is a post from: Foreclosure Investing Philippines

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The “HOT HOT AUCTION” of foreclosed properties shall be happening on March 27, 2010, at the Max’s Restaurant, Jupiter St., Bel Air 1, Makati City, Philippines. registration starts at 8:00am and the auction proper starts at 9:00am.

Foreclosed properties can be purchased for as little as 10% Downpayment, for as low as 12% interest p.a. fixed, and with up to 10 years to pay.

This auction of foreclosed properties is powered by The Property Forum Phils. and the auction proceedings shall be conducted by Noli “El Subastajero” Alleje.

Listing of foreclosed properties

Metro Manila foreclosed properties

Antipolo City

Caloocan

Makati

Marikina

Manila

Pasay City

Pasig City

Paranaque City

Luzon foreclosed properties

Bataan

Batangas

Bulacan

Cavite

Laguna

Nueva Ecija

Quezon Province

Pampanga

Pangasinan

Tagaytay

Rizal

Visayas foreclosed properties

Cebu City

Mindanao foreclosed properties

Cagayan De Oro

Davao

General Santos

Click here to download  the complete listing of foreclosed properties for public auction on March 27, 2010

Show money

Show money is only Php25,000 per property in the form of cash or Managers Check.

Property Inspection

For property inspection, please call Property Forum Philippines directly : (02) 534-9536 / (02) 534-6954 /0921-6722888.

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 to seller’s name thus protective buyers are advised to conduct their due diligence prior to entering into any contract with the seller. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. 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
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page
Text by Jay Castillo. Copyright © 2010 All rights reserved.

PS. If you are an OFW who will be here in Manila, Philippines on March 28, 2010, reserve your seats NOW for the free Secrets of Wealth seminar for OFW’s by calling Joy: +63927-5707599, or Will: +63917-8580064/(632) 9645512. Remember, this is a free seminar so seats will definitely run out fast, and there are only 100 seats available. Act now and learn the secrets of wealth from Trace Trajano! Click here for more information about the free Secrets of Wealth seminar for OFW’s.

PPS. If you have a friend or loved one who is an OFW or who knows an OFW, please do them a favor and invite them to the free Secrets of Wealth seminar for OFW’s by Trace Trajano. The first 5 who refer at least 3 OFW’s that confirm and attend the seminar will get a free 1-hour consultation from me where you can ask me anything about investing in foreclosed properties (more about this in a later post). Just leave a comment below if you are interested or have any questions. Thanks!

"HOT HOT AUCTION" of foreclosed properties slated on March 27, 2010 is a post from: Foreclosure Investing Philippines

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The Property Forum Philippines will be having another auction of foreclosed properties entitled “El Subastajero’s Choice Auction”. One odd thing I noticed however is that there was neither any date nor time indicated in the auction announcement. I believe these details are too important to be left out so I  was thinking they might have done this on purpose. Now why would they do such a thing?

Based on the print ad, all acquired assets on the list are on 1.00 peso knockout. Maybe their strategy is to sell all the foreclosed properties  through the knockout option where one just had to add Php1.00 on top of the minimum bid price to knockout a foreclosed property from the list of properties included in the auction. Don’t take my word for it though as I’m just guessing.

Initially, I thought this was another round of the PNB “New Moon” auctions but the property codes don’t indicate any PNB properties. I also noticed that some of the properties on the list from other banks are the same properties from previous auctions.

Anyway, I’ll update this post once I am able to confirm the exact schedule and venue of the auction, if any.

Locations of foreclosed properties for sale

Mega Manila

• Antipolo
• Las Pinas
• Makati
• Mandaluyong
• Manila
• Muntinlupa
• Paranaque
• Pasay City
• Quezon City
• Paranaque
• Pasig
• Tanay, Rizal
• Valenzuela

Luzon

• Batangas
• Bulacan
• Cavite
• Laguna
• Pangasinan
• Quezon Province
• Rizal

Visayas

• Bacolod
• Cebu City
• Cotabato
• Negros Occidental

Mindanao

• Agusan Del Norte
• Zamboanga

Click here to download the complete foreclosed properties listing for El Subastajero’s Choice Auction or on the thumbnail on the left.

Source: Manila Bulletin, February 28, 2010 issue, page G3

For more details on any of the foreclosed properties and/or property inspections, please contact Property Forum Philippines directly through the following numbers: (02) 534-9536 / (02) 534-6954 / 0921-6722888

Show money is Php25,000 per property, in the form of cash or manager’s check.

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 title consolidation to seller’s name, thus protective buyers are advised to conduct their due diligence prior to entering into any contract with the seller. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. 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

Text by Jay Castillo. Copyright © 2010 All rights reserved.

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

PPS. If you know someone who might be interested in this post, please do share this to them. 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. Inbox getting full? Subscribe through my RSS Feed instead!

El Subastajero's Choice Auction of foreclosed properties is a post from: Foreclosure Investing Philippines

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As mentioned in my recent post about PNB’s Asset Gazette for January 2010, Property Forum Philippines will be conducting a series of “New Moon” auctions of foreclosed properties that coincide with the actual dates of the “New Moon”. This particular auction will be held on February 13, 2010, at Max’s Restaurant, Jupiter St., Makati City, Philippines. Registration starts at 8:00am and the auction proper starts at 9:00am.

Foreclosed properties can be acquired for as little as 10% Downpayment, with up to 10 years to pay and at low interest rates. However, the actual interest rates were not indicated on the print ad. This probably means that participating banks might have different interest rates available for their foreclosed properties included in the auction. Better call Property Forum Philippines to verify this as part of your due diligence.

Yes, you read that right, I believe that aside from PNB, there are other participants in this auction. Based on the prefixes of the property codes on the list, I can see that majority of the foreclosed properties are from PNB, while the rest are from TPF (The Property Forum?), UCPB (This is obviously United Coconut Planters Bank), CSB, GHP, UOB (United Overseas Bank?), CB (ChinaBank?), UNI, etc. Although the meanings of some of the acronyms are quite obvious, I can’t decipher the rest. Please do leave a comment below if you happen to know which banks or SPV’s these refer to. Thanks!

Locations of the foreclosed properties for sale

Mega Manila

• Antipolo
• Caloocan
• Las Pinas
• Makati
• Mandaluyong
• Manila
• Muntinlupa
• Paranaque
• Pasig
• Quezon City
• San Juan
• Tanay, Rizal
• Valenzuela

Luzon

• Baguio
• Bataan
• Batangas
• Bulacan
• Cagayan
• Cavite
• Isabela
• Laguna
• Nueva Ecija
• Quezon Province
• Pangasinan
• Rizal
• Tagaytay
• Tarlac City

Visayas

• Bacolod
• Bohol
• Capiz
• Cebu City
• Iloilo City
• Leyte
• Negros Occidental

Mindanao

• Agusan Del Norte
• Cagayan De Oro
• Davao Oriental
• General Santos
• Iligan
• South Cotabato
• Misamis Oriental
• Sultan Kudarat
• Zamboanga Del Sur/Norte

Click here to download the complete listing of foreclosed properties for sale in Property Forum’s New Moon public auction on February 13, 2010.

Source: Philippine Daily Inquirer, February 1, 2010 issue, page B4

Want to bid on a foreclosed property?

Before you bid, you should at least analyze the properties and do the numbers. If the numbers make sense, then the next logical step would be to inspect the properties as part of  due diligence. For property inspection, please call The Property Forum Philippines directly through the following telephone numbers: (02) 534-9536 / (02) 534-6954 / 0921-672288

To participate in the auction and bid on any of the foreclosed properties for sale, just bring the required show money which is Php25,000 per property in the form of cash or managers check.

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 title consolidation to seller’s name thus protective buyers are advised to conduct their due diligence prior to entering into any contract with the seller.

Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. Changes in prices are subject to the sole discretion of the seller.

Looking for multi-door apartments?

If you are looking for multi-door apartments, then you better check this list of foreclosed properties as I saw a 7-door apartment with a minimum bid price of Php2.5M and an 8-door property with a minimum bid price of Php2.06M, both of which are in the Mega Manila area. I haven’t checked the details yet so I really can’t tell if they are good buys.

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 © 2010 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.

New Moon Auction of foreclosed properties on February 13, 2010 is a post from: Foreclosure Investing Philippines

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Today, I am posting the PNB Asset Gazette for January 2010 which features just some of the prime foreclosed properties for sale in their first public sealed bidding scheduled this year. According to the Asset Gazette, the Philippine National Bank-Special Assets Management Sector or PNB-SAMS has slated 10 public sealed biddings for the year 2010. The first of these will be on January 29, 2010 and you can read more about it in my previous post: PNB to sell prime foreclosed properties through public sealed bidding.

7 of the 47 foreclosed properties that are up for sale through sealed bidding on the 29th of January are featured in the asset gazette and you will get to see pictures of the properties along with some basic details.

Click here to download a copy of PNB’s Asset Gazette for January 2010

New Moon Auctions of foreclosed properties

I also saw a very interesting section in the Asset Gazette where it appears that The Property Forum, a leading Auctioneer of foreclosed properties in the Philippines, will be holding “New Moon” auctions on the following dates

• January 16, 2010
• February 13, 2010
• March 15, 2010
• May 14, 2010
• June 12, 2010

I remember that I had a short chat with Mr. Noli Alleje of Property Forum Philippines when he attended a recent meeting of REBAP-Marikina and he mentioned to me about the “New Moon” auctions of foreclosed properties, but I didn’t know that the foreclosed properties for sale are from PNB. These auctions are supposed to coincide with “New Moon” hence the title.

I’ll be on the lookout for more details regarding these “New Moon” series of auctions of foreclosed properties and I’ll post them here once I get them.

A busy year for PNB-SAMS

It appears 2010 is going to be a very busy year for PNB as they are all set to conduct more than 15 public auctions. As mentioned, they will be having 10 auctions through public sealed biddings and another 5 through their “New Moon” auctions to be conducted by Property Forum Philippines. Want to participate in these auctions? Then don’t forget to subscribe to e-mail alerts and get notified once more details about these upcoming auctions of foreclosed properties become available.

By the way, I was also able to get an updated listing of foreclosed properties for PNB’s January 29, 2010 sealed bidding and you may download it by clicking on the image below.

—

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 © 2010 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.

Prime foreclosed properties featured in the PNB Asset Gazette for January 2010 is a post from: Foreclosure Investing Philippines

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Property Forum Philippines shall be conducting a “Thanksgiving Auction” of foreclosed properties on November 28, 2009 at Max’s Parksquare, Glorietta, Makati City, Philippines. Registration starts at 8:00AM and the auction proper starts at 9:00AM.

Keep in mind that the foreclosed properties can be purchased for as little as 10% downpayment. A pre-auction reservation fee of Php25,000 per property is required.

The auction is to be conducted by Noli “El Subastajero” Alleje.

Foreclosed properties for public auction are from the following areas:

Mega Manila

• Antipolo
• Caloocan
• Las Pinas
• Makati
• Manila
• Mandaluyong
• Muntinlupa
• Paranaque
• Pasay
• Pasig
• Quezon City
• Valenzuela

Luzon

• Bulacan
• Cavite
• Laguna
• Rizal

Visayas

• Bacolod
• Cebu
• Isabela

Mindanao

• Cagayan De Oro

Click here to download a copy of the complete listing of foreclosed properties for sale at the Thanksgiving Auction of Property Forum Philippines on November 28, 2009.

Source: Philippine Star, November 23, 2009 issue, page B-5

The “fine print”
Show money is Php25,000 per property, cash or manager’s check. All properties are offered on an “As-is, Where-is” basis. Titles of properties are either under the seller’s name or under various stages of title consolidation to seller’s name, thus prospective buyers are advised to conduct due diligence prior to entering into any contract with the seller. Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time.

For property inspections, you may call Property Forum Philippines through the following numbers:

• (02)534-9536
• (02)534-6954
• 0921-67228888

Happy hunting!

—

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
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.

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Thanksgiving auction to be conducted by Property Forum Phils. on November 28, 2009 is a post from: Foreclosure Investing Philippines

I found this very interesting advertorial in the in-flight magazine of the Cebu Pacific flight we took in our recent Boracay vacation and I just want to share it to all of you here, along with my insights and opinions. The advertorial which I am posting below is from The Property Forum Philippines, one of the top property auctioneers in the Philippines. Its president, Mr. Noli “El Subastajero” Alleje, has become a very familiar face when it comes to auctions of foreclosed properties.

This is a picture of the magazine

Secrets Revealed: Investing in foreclosures. Own your dream home or best real estate investments in auctions

With the collapse of the global financial markets, one investment stands as the best and most secured product, and that is real estate. Manuel “El Subastajero” Alleje’s top picks for property investments are foreclosures.

El Subastajero Alleje has powered his company, The Property Forum Phils., to move over 6 Billion pesos worth of real estate assets in 40 auctions conducted nationwide.

So why foreclosures???

LOW CASH DOWNPAYMENT: While you have seen the bank’s offer price to be P3M, you may have failed to notice that the downpayment is only a measly 5% to 10%. That’s only P150,000 to P300,000 as initial cash out. So how much can your P300,000 cash-in-the-bank be worth if you buy a property at 10% down payment? You would now be the owner of a P3,000,000 real estate investment…

I never knew that there were auctions that only required down payments as low as 5%! As far as I remember, all the recent auctions conducted by Property Forum Phils. required at least 10% down payment. Anyway, having a low down payment requirement is really one of the advantages of buying foreclosed properties. I often hear people say that investing in real estate requires a lot of money. I beg to disagree! However, I do understand where these people are coming from as I too had the same thoughts until I found out that only low down payments are required when buying bank-foreclosed properties and this is often called leverage. You can read more about leverage here.

LONG PAYMENT TERMS: After paying the low down payment, the balance of the investment can be paid over a short period of 5 years to a long period of 15 years. So you are hedging and earning over market appreciation…

I’m not really sure what the last sentence meant but what I do understand is that longer payment terms mean lower monthly amortizations which translates to higher positive cashflow. The last sentence could also mean that you will be paying amortizations based on the value of the real estate at the time of purchase (so you peg the price). At the end of the payment period, the value of the property has already appreciated and you can profit from the appreciation when you sell the property. Hedging basically means that you buy low now and peg the purchase price because you anticipate that the value of the property you bought will appreciate later.

LOW INTEREST: Imagine getting this low down payment, plus long payment term, at low interest rate of just 8%. Compared to purchasing fresh housing loans today with a demand of a higher lending rate, buying into bank foreclosures always offers a lower interest rate…

8% interest rates are usually available only for the first year and this is often not a fixed rate. This means at the end of the year your loan may be subject to “repricing” or adjustments in case the market interest rates have changed. What happens if a new financial crisis happens(God forbid) and interest rates shoot up? Then the interest rate of your loan shoots up as well along with your monthly amortizations, which can lead to negative cashflow situations and even more foreclosures. This is the reason why I often advice that one should always make sure that their interest rates are fixed for the longest possible term. By the way, other lending institutions like Pag-IBIG may offer lower interest rates (6% for loans up to Php400,000 and 7% for loans over Php400,000 up to Php750,000). I suppose transferring a loan from a bank to Pag-IBIG would be a good option in such cases.

EASY CREDIT APPROVAL: Fear not the credit investigation. Maybe in the past you may have made a wrong business decision that has affected your credit standing, thus preventing you from availing a mortgage. In buying foreclosure, banks go thru the CONTRACT TO SELL documentation, which entails the property to remain in their ownership. Therefore, the possibility of no mortgage or lenient credit investigation, to none at all…

Some banks use a Contract-To-Sell (CTS) wherein the Title of the property is not yet transferred to the buyer until the purchase price is paid in full. In contrast, if a property was bought through a mortgage loan, the Title is already transferred to the buyer and the same Title is then mortgaged to the bank. Because of this, the latter may require more stringent requirements. But still, even if a bank or a lending institution will be using a CTS, they would still do a credit investigation like checking a buyer’s capacity to pay, etc.

GOOD TITLE: A constant concern in real estate investment is the veracity of the title. Remember that before this real estate asset became a foreclosure, it was a collateral for a loan and has undergone due diligence review by the bank. You must also consider that banks will not endanger their integrity and credibility…

Banks are supposed to do due diligence before they accept a property as collateral for a loan so this is very true. Nevertheless, one should always do his or her due diligence even if one is buying a foreclosed property from a bank  because sometimes foreclosed properties are involved in pending court cases (like the red tag foreclosed properties from BPI-Buena Mano)  and these are annotated on the Title as a lis pendens (pending case). Always do your due diligence. At the minimum, one should get certified true copies of the Title plus traceback from the registry of deeds, etc.

IMMEDIATE APPRECIATION: When you buy real estate investments you make money, so be sure you get the best deal. It would be good to check out market values in the neighborhood…

I believe what they were trying to say was one can get immediate appreciation in the form of instant equity (Equity is the difference between a property’s current appraised value /market value and the loan principal balance) if you are able to buy a foreclosed property at a price below market value. This is the essence of the statement “You make money when you buy, not when you sell” as often said by Robert Kiyosaki, author of Rich Dad Poor Dad. Just make sure that you really are buying a property below market value by doing your own property valuation.

Now that you know the secrets of buying foreclosures, how do you get started?…

Hold your horses! Before you go out there to start looking for foreclosed properties, make sure you have learned to manage your finances first. Start increasing your financial IQ and be on your way to becoming financially literate. If you can’t manage your cashflow now, you won’t be able to do so when you already have investment properties. Without financial literacy, no matter how many good deals you find, you will surely end up losing money.

SEARCH FOR YOUR CHOICE: For the complete list of ready-to-market foreclosures, go to www.propertyforum.net.ph and utilize the first Philippine real estate search engine.

Sadly, their website is not updated. Don’t worry, as long as I get copies of their foreclosed property listings, I’ll post it here in Foreclosure Philippines.

INSPECT ALL CHOICES: It’s time to go shopping! Prepare a list of choices. Be sure to have made necessary arrangements to be able to enter and inspect the properties. The Property Forum Area partners will help you choose your investment, as all properties listed in our auctions are pre-inspected.

Before inspecting all those foreclosed properties, make sure you have at least analyzed and shortlisted them, and visit only those that look really promising. When inquiring, make sure you also ask the right questions.

GRAB THAT GREAT DEAL: Our auction assets go through a price deliberation process that ensures bidders that they get value for their money. That great deal may be handed to you at even almost half its market value.

Better make sure you really are getting that foreclosed property you are eyeing at below market value by doing your own property valuation as I have mention in my post on how I estimate market values of foreclosed properties.

If you want to be a foreclosure real estate investor by acquiring property, fixing it up, and leasing it out, or you would like to buy a ready to move in house with low down payment, long payment terms, and with the right interest rate, then call us. We will gladly share with you our experience on how do it step-by-step. HAPPY TRIPPING!!! PROPERTY IS PROSPERITY.

Personally, I have found it a pleasant experience in dealing with Property Forum Philippines. I attended my very first auction which was conducted by Property Forum Philippines sometime during the first half of 2007 , and then a year after, I had my first win for a bid for a foreclosed property during a public auction also conducted by them (read more about it near the bottom of this post). I believe they now also offer investors a means to invest passively in foreclosures. I’ll check on this and post more information as they become available.

Happy investing!

—–

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@gmail.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 liked this post, 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.

Secrets Revealed: Investing in Foreclosures is a post from: Foreclosure Investing Philippines

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