RCBC Savings Bank has released a new listing of foreclosed properties for their latest Dream Buys Sale. Take note that properties included in this listing are not for auction but rather for negotiated bids.
Areas covered are Makati, Paranaque, Las Pinas, Muntinlupa, Quezon City, Marikina, Antipolo, Caloocan, Rizal, Laguna, Cavite, Bulacan, Bataan, Nueva Ecija, Pampanga, Tarlac, Pangasinan, Baguio, Batangas, Quezon Province, and Naga.
Download the RCBC Dream Buys Listing here.
Since this real estate foreclosure listing is not for auction, prices are negotiable! Time to find those diamonds in the rough that are great real estate investments and make offers!
Happy hunting!
Hello Jay,
First off, good to see a very helpful blog such as this. You are doing a great job, keep it up and God Bless you.
It’s my first time here, have read a lot of useful tips and insight already, being an OFW – these are certainly very helpful.
Going through the list of properties to be auctioned by RCBC on 26th, i saw 2-condos at Westmont Village… i don’t know if I can submit an offer instead… who should I get in touch with please ?
thanks a lot for your help…
bests
Sam
Hi Samantha, thanks for visiting and for the compliment!
As for the condo’s in Westmont, it would be best for you to contact RCBC Savings bank directly so you can get all pertinent details faster. You can contact Red/Alex/Jerome at telephone #’s 687-0839/638-5032. Since you are an OFW, I was hoping I can give you an e-mail address from RCBC Savings but I can’t find one on their listing/website.
Hi Jay,
I kept on searching for a foreclosed residential lot in Davao but I could not find it until now. Could you please help me or give me a tip on how to find a 430 sqm. res´l. lot in Green Heights, Buhangin, Davao City? I know it´s not your task, but I would really appreciate it if you could help me.
Thank you very much.
@Nakba, I’m not sure why my answer to your question got messed up so I’ll answer it again here. For this particular listing, interested parties just have to submit their offers which shall be evaluated by the bank. Though they indicate a minimum bid price in the listing, you can still submit offers below the minimum bid price because prices are negotiable, and this is according to the RCBC Bank officers themselves. I hope I have answered your question and thanks for dropping by!
Hello Anonymous, if one has already won the bidding and decides to back-out, the bank will forfeit the Php25,000 show money.
Sir Jay, whenever you win the bid, but decided not to buy anymore, what will happen.
You’re welcome Dragoro! As they say, knowledge gained but not shared is wasted knowledge. =)
I can safely assume you have no idea how much of a big help your blog is to your readers 🙂
Can’t thank you enough for reaching out.
good morning.
ok will wait for it. salamat
Hi Betty, Sounds intimidating right? I had the same feeling before when I could not digest the legal terms. However, this could be best explained with an example. I’ll include this in the “How to compute ROI” article I am finishing right now.
4) The following taxes, fees and charges shall be for your account;
• Any Creditable Withholding Tax (“CWT”) assessment in excess of the CWT computed based on the Purchase Price. The Bank shall shoulder only CWT based on the Purchase Price and business tax, if any on the transaction
• Documentary Stamp Taxes (“DST”)
• Additional assessments for CWT and DST which may be later on assessed by the BIR on the sale (due to revisions in market / zonal value), which are over and above the amount computed based on the Purchase Price, including all penalties and surcharges assessed and arising from your late remittance to the Bank
• Notarial fee (payable per document)
• Real property taxes, homeowners and association dues and other assessments on the Property starting from the earlier of date of turnover of possession or date of Deed of sale, which were already paid or advanced by the Bank
• All taxes, fees, charges and expenses related to removal of annotations (required for the loan), registration and transfer of title
• All expenses related to correction of deficiencies on the Property, including but not limited to geodetic/relocation surveying, legal expenses, eviction of illegal occupants etc., if any
• Miscellaneous and processing fees
pwede pong pakitranslate ng mababaw? salamat po.
galing po yan sa metrobank, parang bigla akong nagthink twice as pagbigay ng amount to offer.
Yes Betty, just ask and they should give you a copy which you can use to check/verify at the registry or deeds.
sir Jay, good morning.
so ibig sabihin i can ask the bank for the copy of the title?
thanks
which shall be evaluated by the bank. Though they indicate a minimum bid price in the listing, you can still submit offers below the minimum bid price because prices are negotiable, and this is according to the RCBC Bank officers themselves. I hope I have answered your question and thanks for dropping by!
Jay
It may be a dumb question. If a property is being sold with min bid price (ex RCBC Dream buy list), mga close biddings ba ito or parang open auction?
thanks
Yup, you can say your offer is due to the condition of the property needing repairs, etc. One more tip, if you get a copy of the TCT or CCT, check how much a property was mortgaged for, thats the max amount the bank “needs” to recover. It could be less if the borrower has already made a lot of payments before foreclosure.
hehe kailangan pala ijustify…ok thanks, God’s will baka mabili ko na din yung tinitignan ko sa metrobank.
thanks again
Hi Betty, you’re welcome and thank you also for the inspiring words! As far as I know, banks only list foreclosed properties as they really are not in the realty business, they just list them to dispose them. Before, my target was to submit offers 40% below but I learned recently from a mentor that it should be at least 50%. However, you should also try to indicate valid reasons why you came up with that offer so the banks will know you are serious.
question ulit…
are all properties listed sa bank eh foreclosed?
how many percent can i “haggle” para di naman masabi ng bank na “kung gusto mo sayo na lang”
wow thats good to know. atleast i can still get discount on the property im eyeing.
keep up the good work and thanks for being a blessing to others.
Hi Betty, yes, these are negotiable even for financing. Actually most banks prefer financing because they can earn more due to the interest, provided you get the loan from them. Tsaka okay lang magtanong, I’ll do my best to answer. Thanks!
sensya, as now lang ako natututo about buying properties. as you said, foreclosed properties are “negotiable”, is it for cash payments only or for financing as well?
thanks