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:
I would advice interested parties to verify the properties that are to be included in the tax foreclosure auction sale by getting an updated list at the Quezon City Treasurer’s office. Since a lot of the owners of the real properties on the list would actually pay their real property taxes as the day of the auction nears, expect a lot of properties to be withdrawn from the final list of properties to be included in the auction.
Don’t forget to do your due diligence before even considering to bid on any of the properties included in this tax foreclosure auction. You may refer to my previous post: Quezon City Tax Delinquent Properties public auction sale on October 8, 2009 where I enumerated general steps as reference when doing your due diligence with respect to tax delinquent properties in Quezon City.
Note: I am posting this as a service to readers and subscribers of Foreclosure Philippines. For further information and inquiries, including but not limited to specific questions about any of the properties on the list, please contact or visit the Office of the Provincial Treasurer of Quezon City.
Happy hunting!
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Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo. Copyright © 2009 All rights reserved.
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Hi Jay,
Is it the same buying a tax delinquent foreclosure property here in the Philippines as in the US? From what I understand in the US, the bid price is the total amount of tax due for payment and that one can actually get to own an expensive property just by paying the tax due if the owner does not exercise his right to reclaim the property. Is this the same setup in the Philippines? If it is, wouldn’t it be really good to invest in tax delinquent foreclosures? I think it was Jack Bosch who does this very well in the US.
let me know your thoughts, especially the risks in investing in this type of foreclosures.
Thanks bro!
.-= Bryan Uy´s last blog ..Invest in Cash in a Flash: A P300k Package for only P750 by Mark Victor Hansen and Robert G. Allen =-.
Hi Bryan, yes, they are exactly the same! From what I have gathered from other bidders during tax foreclosure auctions, the biggest risk is when the previous owner chooses not to leave the property after the 1-year redemption has lapsed and you will have to eject them, which is not something I would want to do. This is the reason why I would rather invest in those tax foreclosed properties that have a greater chance of being redeemed. Just read my post about the Marikina tax foreclosure auction, it contains a lot of tips. 🙂
Hi Jay!
Thanks for this info. Can you help me navigate through your posts? I’m trying to look for your post re Marikina tax foreclosure.
Thanks bro and Happy New Year!
.-= Bryan Uy´s last blog ..Self Evaluation: Tell Me Who Your Friends Are =-.
Hi Jay! Saw it already! Sorry for the inconvenience…:)
.-= Bryan Uy´s last blog ..Self Evaluation: Tell Me Who Your Friends Are =-.
Hi Bryan, glad you found it already. I’m still improving navigation of the site, it’s a work in progress… hehe. Anyway, I look forward to our lunch on Monday. Thanks!
Looking through the list of delinquent owners, I find it interesting that companies like RCBC, Shell, Ayala Land and Distilleria Limtuaco are delinquent tax payers. It probably shouldn’t be a surprise but do you think it’s really part of their practice not to pay taxes on time? Or did someone just not do their job?
Anyway, if you find anything good, let me know. 🙂
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