Based on the total number of posts during the past 7 days, I can say it has been a very busy week. But it is better than that because it has also been a productive one.

My wife and I have been busy AND productive with our own respective online and offline activities. You guessed it, these are mostly related to real estate.

In my case, let me just say that I worked on some deals and projects with the help of fellow real estate investors, real estate brokers, and friends. You know who you are, and thanks to all of you (and to God of course!) , I can say it has been a truly productive week!

As the week starts, let us all keep in mind that being busy does not necessarily mean being productive, just like being efficient does not always equate to being effective. After all:

A lot of our ‘busy ness’ is a way for us to avoid thinking about what is most important. There’s a difference between being busy and being productive. ~ Kristen Lippincott

With that said, here’s a wrap-up of what happened here during the past week.

September 6, 2011 – Tuesday

HUDCC to hold Housing Fair 2011 on September 30 to October 2

Probably one of the most anticipated events related to real estate is the housing fair that is conducted annually by the HUDCC. The Housing Fair 2011 which is already on its sixth year is just around the corner. If you are looking for an affordable home, don’t miss this year’s Housing Fair. Click here to read the full article

September 7, 2011 – Wednesday

50 Sterling Bank repossessed cars for sealed bidding this September 2011

If you are one of those that have been looking for repossessed cars, checkout this list from Sterling Bank of Asia. One of the 50 repossessed cars for sale might be for you. But please don’t forget to bring a trusted mechanic with you to inspect the car as part of your due diligence. Click here to read the full article

September 8, 2011 – Thursday

2 Sterling Bank foreclosed properties for sale this September 2011

Yes, only two (2) foreclosed properties are listed in the September 2011 batch from Sterling Bank. Check this out if you are looking for a foreclosed house and lot located at BF Homes Paranaque, or at St. Francis Homes I, Biñan, Laguna. Sealed bids will only be accepted up to September 15, 2011. Click here to read the full article

September 9, 2011 – Friday

Fresh listings of BDO foreclosed properties for September 2011

Here’s another batch of updated listings of BDO foreclosed properties. This list also contains repossessed cars. Although the properties are for negotiated sale, and the listings are very fresh, don’t be surprised if some of the items on the list are already sold.  Click here to read the full article

September 9, 2011 – Friday

First Notice: Tagaytay Tax Delinquent Real Properties 2011

The City of Tagaytay has just issued a First Notice for tax delinquent real properties for 2011. Before you get too excited, this list is more of a reminder for property owners to settle their real property tax arrears. No auction date was announced. Click here to read the full article

September 10, 2011 – Saturday

Pasay City Tax Delinquent Properties auction sale slated on September 15, 2011

Unlike the Tagaytay list of tax delinquent properties, this list from Pasay City indicates an actual date for the tax foreclosure auction sale. Click here to read the full article

September 10, 2011 – Saturday

Are you looking for a REAL real estate mentor?

Having a REAL real estate mentor is so important and sometimes you have to rely on your gut feel to figure out if a mentor is for real or not. Sometimes all it takes is to find out what they are doing to give back to society. Another way would be to see if they can issue an Official Receipt… Click here to read the full article

Up next

I believe I will finally get to share my pleasant experience when I visited the Registry of Deeds located in Binangonan Rizal. Even though it was a long drive, traffic was light and I actually enjoyed it!

I also want to share the logic behind my decision to stop investing in mutual funds in favor of foreclosed properties, as part of the money Summit 2011 series.

Of course, I will be posting listings of foreclosed properties and repossessed cars this week.

Have a productive week ahead!

~~~

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.

Weekly wrap: A busy AND productive week is a post from: Foreclosure Investing Philippines

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I tried to get my NBI* clearance last week and I remembered this line from a song of the Eraserheads “Huwag mo nang itanong sa akin” where it said “…katulad ng buhay natin – isang mahabang pila, mabagal at walang katuturan” (… just like our life – a long line that moves slowly and is utterly pointless).

*NBI - National Bureau of Investigation

Well, I wouldn’t say my life is like that, but I did feel the long line one has to endure to get your NBI clearance was painfully slow, wasted too much time, and should be a thing of the past.

I just kept reminding myself that I was doing this because of an opportunity that came my way and it also helped that I had internet on my phone, I downloaded an ebook and read it while I was falling in line with about 2,000 other people at the NBI. Posting updates on Facebook also helped.

I actually did this twice. The first time was at Robinsons Otis (fewer people, I was done in 3 hours) last Thursday, and at UN Avenue (I estimate around 3000 people were there, I stayed from 5:30am to 1pm) last Friday. I went to their UN office because I was told it was possible for me to get my clearance on the same day there, but I did not get it because my name was too common.

This is the reason why I am only writing this weekly wrap-up today because I had to catch up with my sleep debt. Who knows, I just might write about my NBI clearance experience in the coming days, once I get my hands on my clearance.

For now, here is a review of what happened last week.

August 30, 2011 – Tuesday

174th UnionBank foreclosed real estate auction slated on September 17, 2011

This Special Public Auction of UnionBank foreclosed properties includes the Visayas and Mindanao areas. The auction announcement still says “No Credit Checking” which means interested bidders need not pass stringent credit checks associated with mortgage loans.  Click here to read the full article

August 31, 2011 – Wednesday

Republic Act 9182: The Special Purpose Vehicle (SPV) Act of 2002 full text

I can foresee that I will be featuring a lot of foreclosed properties from SPV’s here so I might as well post the full text of the law that paved the way for the creation of these entities. By the way, there is an amendement to this and I will also post it soon, along with the full text of the IRR. Click here to read the full article

August 31, 2011 – Wednesday

FTI Consulting announces list of bank foreclosed assets for sale from PI Two

One example of a Special Purpose Vehicle or SPV is Philippine Investments Two or PI Two for short, and FTI Consulting has been tasked with the selling of their big list of bank acquired assets/foreclosed properties. These are for negotiated sale and include properties from all over the Philippines. Click here to read the full article

Other stuff

Here are other stuff I was busy with last week:

I attended the Think Rich Pinoy Seminar last August 27, 2011

I gave a short talk in the morning and I also helped facilitate the Cashflow 101 games in the afternoon. During the seminar, Doctor Larry Gamboa was given a surprise birthday cake in celebration of his Birthday Month. I held on to the cake while Larry blew the candle.  The photo below was taken moments after.

By the way, if you attended the Think Rich Pinoy Seminar last August 27, 2011 using my link, I will send your freebies once I get your e-mail address from the organizers.

PDIC foreclosed properties public auction

I tried to submit requirements (they did not accept my NBI clearance because it was 7 months old) for my broker’s accreditation at PDIC’s ROPA disposal department and I found out that they will be having a public auction this coming September 20, 2011, if I heard correctly. I already checked their website which you can find in my Ultimate List of Philippine Banks but the auction announcement was not yet posted. If I get the list, I will also post it here.

Up next

I currently have an updated list of repossessed cars and foreclosed properties from Sterling Bank of Asia, an updated list of BDO foreclosed properties for  sale, and a couple of notices for Tax Delinquent properties from Tagaytay and Pasay and I will post all of these in the coming week. (Update: all of these have been posted, just click on the links to view)

I would also like to share my recent experience when I visited the Registry of Deeds located in Binangonan Rizal, which covers properties located in Taytay, Cainta, Angono and Binangonan (obviously).

Argh! I still have not published my next installment for the Money Summit series where I am featuring questions and answers about investing in foreclosed properties. I’ll have this ready soon.

Have a great week ahead!

By the way, since the “ber” months are already here, advanced Merry Christmas!

~~~

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.

Weekly Wrap: A long line that moves slowly and is utterly pointless is a post from: Foreclosure Investing Philippines

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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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As a follow-up to my previous post on the notice issued by the Quezon City Treasurer’s Office, this post contains the  complete list of tax delinquent properties for sale through public auction on October 7, 2010, by virtue of Section 260 and 263 of RA 7160, otherwise know as the Local Government Code of 1991. The venue of the auction shall be the Ground Floor, Taxpayer’s Assessment and Payment Lounge, Quezon City Hall, Diliman, Quezon City, Philippines. The tax foreclosure auction starts at 10:00am.

Checkout the complete list of tax delinquent properties for sale below, as published last September 20, 2010. Just click on the thumbnail to download each page.

Quezon City Tax Delinquent Properties for sale on October 7, 2010 (Page 1 of 4)

Quezon City Tax Delinquent Properties for sale on October 7, 2010 (Page 2 of 4)

Quezon City Tax Delinquent Properties for sale on October 7, 2010 (Page 3 of 4)

Quezon City Tax Delinquent Properties for sale on October 7, 2010 (Page 4 of 4)

Source: Philippine Star, September 20, 2010, pages B-10 to B-13

Don’t forget to read my previous post to get more information if you are interested in this tax foreclosure auction of delinquent real property in Quezon City

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!

Complete list of Quezon City delinquent real property for public auction published is a post from: Foreclosure Investing Philippines

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I just found this notice for Quezon City taxpayers yesterday and thought of sharing it here. The Quezon City Treasurer shall be holding a tax foreclosure auction sale of all real properties with delinquent tax payments and it will be held on October 7, 2010, at the ground floor, Taxpayer’s assessment and payment Lounge, Quezon City Hall. The full text of notice follows.

NOTICE TO Q.C. TAXPAYERS

THE CITY TREASURER SHALL HOLD AN AUCTION SALE OF ALL REAL PROPERTIES WITH DELINQUENT TAX PAYMENTS ON LAND, BUILDING AND MACHINERIES AT 10:00 AM, ON OCTOBER 7, 2010, GROUND FLOOR, TAXPAYER’S ASSESSMENT AND PAYMENT LOUNGE, QUEZON CITY HALL.

IN THIS CONNECTION, ALL TAXPAYERS ARE ADVISED TO SETTLE/UPDATE REALTY TAX ARREARAGES BEFORE THE SAID DATE TO AVOID INCLUSION OF THEIR PROPERTIES.

ALL PROSPECTIVE BIDDERS ARE ALSO REQUESTED TO VERIFY THE PROPERTIES TO BE BIDDED WITH THE CITY ASSESOR’S OFFICE AND THE REGISTER OF DEEDS OF QUEZON CITY.

ALL PROPERTY OWNERS WITH NEWLY ACQUIRED PROPERTIES ARE REQUIRED TO SUBMIT TO THE CITY ASSESSOR’S OFFICE A CERTIFIED TRUE COPY OF THEIR TRANSFER OF CERTIFICATE OF TITLE (TCT) FOR REGISTRATION PURPOSES, AND ISSUANCE OF NEW TAX DECLARATION AND CORRESPONDING TAX CLEARANCE.

(SGD.) EDGAR P. VILLANUEVA

City Treasurer

The original notice can be seen belowSource: Philippine Star, September 7 issue, page B-9

List of tax delinquent properties for sale

Sorry guys and gals, I don’t have a copy of the complete list of Quezon City tax delinquent properties for sale on October 7, 2010, I only got the notice. The complete list of tax delinquent properties for sale is now available. Click here to view the complete list. Keep in mind that the list will grow shorter as I am hoping that residents with tax delinquencies will settle/update all their realty taxes prior to the auction.

If you are interested on joining the tax foreclosure auction and want to get a copy of the tax delinquent properties for sale, I highly suggest that you drop by the Quezon City Taxpayer’s Lounge and get a copy from their office directly.

It is open from Mondays to Fridays, 7:00 AM to 5:00 PM, except during January of every year when the City Treasurer’s Office is open 7 days a week.

Schedule of Sale of Tax Delinquent Properties

If you will notice, the Quezon City Treasurer’s office has been regularly conducting their tax foreclosure auctions on a quarterly basis. I checked their website and found the following schedule, so it’s confirmed, they will auction tax delinquent properties on a quarterly basis, at least until the end of 2010.

Schedule of Sale of Delinquent Real Properties

• April 6, 2010 – 1st schedule of sale delinquent real properties
• July 2010 – 2nd schedule of sale delinquent real properties
• October 2010 – 3rd schedule of sale delinquent real properties
• December 2010 – 4th and last schedule of sale delinquent real properties

Want to learn more about investing in tax delinquent properties?

If investing in tax delinquent properties is new to you, checkout these posts about my own lessons learned:

• Four tips for investors who plan to invest in tax delinquent real properties in Quezon City
• Tax foreclosure auctions are held by virtue of  Sections 260 and 263 of RA 7160 otherwise known as the Local Government Code of 1991
• 9 Lessons Learned From The Real Property Tax Foreclosure Auction Sale In Quezon City
• Lessons learned from the Marikina Public Auction of Real Properties with Tax Delinquencies we attended last November 13, 2008
• Click here to view all posts under the Tax Delinquent Properties category

Happy investing!

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!

Quezon City Treasurer to hold tax foreclosure auction on October 7, 2010 is a post from: Foreclosure Investing Philippines

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Notices for the foreclosure sale of tax delinquent properties in the Philippines always indicate that the sale or auction is being done by virtue of sections 260 and 263 of RA 7160 otherwise known as the Local Government Code of 1991. Rather than include sections 260 and 263 of RA 7160 with every notice of auction sale that I find, I’ll just post them here and link the new notices to this post. You may read sections 260 and 263 after the jump.

The following are sections 260 and 263 of RA 7160 in relation to the  tax foreclosure auction of delinquent real properties in the Philippines:

“SECTION 260. Advertisement and Sale. — Within thirty (30) days after service of the warrant of levy, the local treasurer shall proceed to publicly advertise for sale or auction the property or a usable portion thereof as may be necessary to satisfy the tax delinquency and expenses of sale. The advertisement shall be effected by posting a notice at the main entrance of the provincial, city or municipal building, and in a publicly accessible and conspicuous place in the barangay where the real property is located, and by publication once a week for two (2) weeks in a newspaper of general circulation in the province, city or municipality where the property is located. The advertisement shall specify the amount of the delinquent tax, the interest due thereon and expenses of sale, the date and place of sale, the name of the owner of the real property or person having legal interest therein, and a description of the property to be sold. At any time before the date fixed for the sale, the owner of the real property or person having legal interest therein may stay the proceedings by paying the delinquent tax, the interest due thereon and the expenses of sale. The sale shall be held either at the main entrance of the provincial, city or municipal building, or on the property to be sold, or at any other place as specified in the notice of the sale. acd

Within thirty (30) days after the sale, the local treasurer or his deputy shall make a report of the sale to the sanggunian concerned, and which shall form part of his records. The local treasurer shall likewise prepare and deliver to the purchaser a certificate of sale which shall contain the name of the purchaser, a description of the property sold, the amount of the delinquent tax, the interest due thereon, the expenses of sale and a brief description of the proceedings: Provided, however, That proceeds of the sale in excess of the delinquent tax, the interest due thereon, and the expenses of sale shall be remitted to the owner of the real property or person having legal interest therein.

The local treasurer may, by ordinance duly approved, advance an amount sufficient to defray the costs of collection thru the remedies provided for in this Title, including the expenses of advertisement and sale.

SECTION 263. Purchase of Property By the Local Government Units for Want of Bidder. – In case there is no bidder for the real property advertised for sale as provided herein, or if the highest bid is for an amount insufficient to pay the real property tax and the related interest and costs of sale the local treasurer conducting the sale shall purchase the property in behalf of the local government unit concerned to satisfy the claim and within two (2) days thereafter shall make a report of his proceedings which shall be reflected upon the records of his office. It shall be the duty of the Registrar of Deeds concerned upon registration with his office of any such declaration of forfeiture to transfer the title of the forfeited property to the local government unit concerned without the necessity of an order from a competent court.

Within one (1) year from the date of such forfeiture, the taxpayer or any of his representative, may redeem the property by paying to the local treasurer the full amount of the real property tax and the related interest and the costs of sale. If the property is not redeemed as provided herein, the ownership thereof shall be fully vested on the local government unit concerned.”

~~~

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.

Sections 260 and 263 of RA 7160 otherwise known as the Local Government Code of 1991 is a post from: Foreclosure Investing Philippines

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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!

—

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.

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.

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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The Office of the Provincial Treasurer of the Provincial Government of Cavite recently published a Notice of Sale of delinquent real properties and as usual, I am sharing the list here for everyone’s reference. The notice of sale contains a list of tax delinquent real estate which are for sale through public auction on December 8 and 9, 2009 at 10:00 AM.

By virtue of the provision of section 260 of the Republic Act 7160 otherwise known as the Local Government Code of the Philippines, the Provincial Treasurer shall sell at public auction the real properties on the list which were certified to be delinquent in payment of real property taxes. The tax foreclosure sale shall be conducted to satisfy all realty taxes, penalties, and cost due thereon as of the date of the tax foreclosure sale.

Properties included on the list of tax delinquent properties are from the following municipalities in Cavite:

• Magallanes
• Carmona
• GMA
• Indang
• Naic
• Bacoor
• Noveleta
• Imus
• Alfonso

Click here to download the complete listing of Cavite delinquent real properties for sale through public auction on December 8 and 9, 2009 or just click on the image below:

Source: Philippine Star, October 22, issue, page B10

Pursuant to Section 260 of R.A. 7160, at any time before the date fixed for the sale, the owner of the real property or person having legal interest therein may stay the proceedings by paying the delinquent tax, and the interest due thereon and the expenses of sale.

Here is section 260 of R.A. 7160 for everyone’s reference:

SECTION 260.        Advertisement and Sale. — Within thirty (30) days after service of the warrant of levy, the local treasurer shall proceed to publicly advertise for sale or auction the property or a usable portion thereof as may be necessary to satisfy the tax delinquency and expenses of sale. The advertisement shall be effected by posting a notice at the main entrance of the provincial, city or municipal building, and in a publicly accessible and conspicuous place in the barangay where the real property is located, and by publication once a week for two (2) weeks in a newspaper of general circulation in the province, city or municipality where the property is located. The advertisement shall specify the amount of the delinquent tax, the interest due thereon and expenses of sale, the date and place of sale, the name of the owner of the real property or person having legal interest therein, and a description of the property to be sold. At any time before the date fixed for the sale, the owner of the real property or person having legal interest therein may stay the proceedings by paying the delinquent tax, the interest due thereon and the expenses of sale. The sale shall be held either at the main entrance of the provincial, city or municipal building, or on the property to be sold, or at any other place as specified in the notice of the sale.   acd

Within thirty (30) days after the sale, the local treasurer or his deputy shall make a report of the sale to the sanggunian concerned, and which shall form part of his records. The local treasurer shall likewise prepare and deliver to the purchaser a certificate of sale which shall contain the name of the purchaser, a description of the property sold, the amount of the delinquent tax, the interest due thereon, the expenses of sale and a brief description of the proceedings: Provided, however, That proceeds of the sale in excess of the delinquent tax, the interest due thereon, and the expenses of sale shall be remitted to the owner of the real property or person having legal interest therein.

The local treasurer may, by ordinance duly approved, advance an amount sufficient to defray the costs of collection thru the remedies provided for in this Title, including the expenses of advertisement and sale.

To get a general idea on what goes on during a tax foreclosure auction, you may refer to my post: 9 Lessons Learned From The Real Property Tax Foreclosure Auction Sale In Quezon City.

Please take note that I am posting this Notice Of Sale 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 the Office of the Provincial Treasurer directly through telephone no. (046) 419-0155 loc 123 or visit the Office of the Provincial Treasurer, Trece Martires City.

Of course if you have any general questions about tax foreclosure investing, please leave a comment below.

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

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.

P.P.P.S – Want to have your list of tax delinquent properties featured here? Contact me now and let me help you get your list to real estate investors, and that includes me!

Cavite to auction tax delinquent real properties on December 8-9, 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!

—–

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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The Office of the Provincial Treasurer of the City of Antipolo recently published a notice of sale of tax delinquent properties. The notice of sale for the tax delinquent properties were published in the September 7, 2009 issue of the Philippine Star. I’m just glad my mom was able to find the notice of sale not just for me but for all of us. Thanks Mom!

According to the notice of sale, the Office Of The Provincial Treasurer will be selling the tax delinquent properties through public auction on September 30, 2009, Wednesday 9:00 AM, at the Department Heads’ Conference Room, 3rd Floor Capitol Building, Ynares Center, City of Antipolo, Province of Rizal.

The tax delinquent properties listed on the notice of sale were said to be delinquent in payment of real property taxes, penalties and cost due thereon as of the date of publication of the notice of sale.

Click here to download the Notice of Sale for Tax Delinquent Properties in Antipolo City for public auction on September 30, 2009. (or click on the image above)

The most recent foreclosure auction of tax delinquent properties I attended was in Quezon City and you can read more about it here and here. Speaking of Quezon City,they shall also be holding their own real property tax foreclosure auction on October 8, 2009. I’ll share more details about this in my next post.

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@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 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.

Antipolo Tax Delinquent Properties public auction is a post from: Foreclosure Investing Philippines

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