Star Properties Inc. shall be having an auction of foreclosed properties as they hold The Star Auction 2010 on February 27, 2010, 9:00AM, at Max’s Restaurant, Jupiter Street, Makati City, Philippines. Registration of bidders start at 8:00AM. The foreclosed properties for sale in this auction include properties from the Greater Manila Area, Luzon, Visayas, and Mindanao.
Foreclosed properties can be acquired for as little as 10% downpayment with the balance payable in 5 years and at 15% per annum fixed interest rates. Not exactly the most attractive terms if you ask me considering other foreclosed property auctions normally give up to 15 years to pay.
Interested bidders have the option to knock out foreclosed properties by simply adding Php1.00 on top of the list price to reserve a property before the auction.
Types and location of the foreclosed properties for sale
Here is a summary of the types and locations of the foreclosed properties for sale included in the auction on February 27.
Residential – Greater Manila Area
- Las Pinas
- Quezon City
- San Juan
Commercial – Luzon
- Nueva Ecija
- Quezon Province
Industrial – Greater Manila Area
- Quezon City
Industrial – Luzon
Industrial – Visayas
- Negros Occidental
- General Santos
Mixed use – Mindanao
- General Santos
Source: Bulgar, February 8, 2010 issue, Page 3
To get more details for any of the foreclosed properties on the list, please contact Star Properties, Inc. directly using the contact information on the list above. Remember, I am posting this listing of foreclosed properties as a free service to subscribers of foreclosurephilippines.com. As of writing this, I am neither connected nor accredited with Star Properties, Inc.
To attend the auction, show money is only Php10,000 cash or manager’s check per property payable to STAR ASSET MANAGEMENT ROPOAS, INC.
The fine print
All properties are offerred on an “As-is, Where-is” basis. Titles of properties are either under the 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.
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Text by Jay Castillo. Copyright © 2010 All rights reserved.
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