RCBC Savings Bank will be having another RCBC Dream Buys Auction of foreclosed properties on November 13, 2010, Saturday, 9:00am, at the L.S. Virata Hall, 2nd Floor, Development Academy of the Philippines, San Miguel Avenue, Pasig City, Philippines.
This list from RCBC Savings Bank contains 181 foreclosed properties with details that include the property address (most are from Metro Manila), lot area, floor area, and minimum bid price. Another 406 properties from various subdivisions are also on the list (see bottom of the listing) but you will have to call them up directly to get more details.
Some of the properties for public auction are properties with “special concerns”. These are properties that are either occupied, have legal impediments, or both.
It’s good that they segregated the properties with special concerns from the rest of the foreclosed properties properties for sale. Interested buyers who don’t want to deal with such properties won’t have to waste time inquiring about properties only to find out later that these have issues.
Download the foreclosed property listing
Click here to download a copy of the listing in PDF format or just click on the image below to download a copy in JPG format.
Source: Manila Bulletin, October 24, 2010 issue, page G-3
Auction terms
The foreclosed properties can be acquired at a low downpayment, with the balance payable in 10 years, at a fixed interest rate. As for he exact interest rate and minimum downpayment they offer, you will also have to call them up. Contact details are at the bottom of the list.
Reminders – please read
Only Php25,000 show money is required per property, in the form of cash or manager’s check.
For more details, please contact RCBC Savings Bank or P.L.A.R.E.B. directly using the contact details on the list, which I have also posted below.
RCBC Savings Bank
- RSB: 687-0839 / 638-5032
- Red: 0908-8854803
- Alex: 0918-9511811
- Jerome: 0918-9903744
- Other Properties: Vic Orense: 0908-9182781 / 687-5430 local 4742
Paranaque • Las Pinas • Alabang Realtors Board (P.L.A.R.E.B.)
- Carol: 861-4921 /0917·8848272
- Sol: 211-4288 / 09177947510
- Dith: (046) 517-0561 / 0928-5249683
- Jo: 359-6441 / 0917-5249360
- Mazel: 346-4279 / 0908-8882558
- Ging: 806-4795 / 0916-3417277
The fine print
All properties are sold on AS-IS-WHERE-IS basis. Properties and prices are subject to change without prior notice. The Bank reserves the right withdraw any property before auction. Inadvertent misprints shall not alter the property’s factual condition, nor shall they be deemed as a misrepresentation of the property.
Happy hunting!
To our success and financial freedom!
Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.
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Jay,
I think you’ve acquired several properties in RCBC (I got my first yesterday), can I ask if there’s a way to avoid double taxation?
In case you say No, what is the current value of property I will use (CGT) in case I will sell it to a buyer – the one used by the bank or between me and my buyer.
Thanks,
Anthony
Hi Jay,
If you don’t mind, can I get your email address/ phone number? I have other questions on acquiring property from the bank. You can send it to my email add as well.
Thanks,
Mike
Sir Jay i asked RCBC and they said before there can be posession of the property, we need to give at least 25% of the total price of the property. . . What others sort of usual expenses do we have to pay aside from the renovation cost?
Do we need to pay taxes for this?
UCPB and Union bank only requires 10% down, ang mahal naman ng RCBC. . .
Hi Orly, you will also need to check for any arrears with the real property tax, HOA, and utilities and check who shoulders these, if any. CWT is shouldered by RCBC and the rest is for the account of the buyer.
Jay, what bank offers more quality properties, Is it BPI or RCBC? Jut a thought!
Hi Francis, it depends on a lot of factors like location, price range, etc. Sometimes both have a lot of promising deals, sometimes very few. It’s really hit and miss.
Hi jay can i have the contact number of your lawyer . I just want to consult the deal i have now its about deal of sale many thanks.
Hi Romeo, sorry for the late reply. Actually my lawyer is my wife Cherry but she is not inclined to handle real estate right now. Let me check with my other lawyer contacts and get back to you.