Yesterday, my wife and I inspected some of the foreclosed properties from RCBC Savings Bank just to familiarize ourselves with what’s available out there, in BF Resort Village Las Pinas to be exact. We are still learning as much as we can in this new niche of ours and so far things look very promising.
We were able to inspect only two foreclosed properties from RCBC Savings Bank. It could have been more but we could not find some of those on our list and we just gave up. Actually, we inspected a number of foreclosed townhouses from a government agency and these were in the same area, so we decided to inspect these as well.
Pictures and details of the foreclosed properties
- (Update as of September 24, 2011 – This property has been SOLD!) Property 11 – No. 25 B6 L12 B. Gutierrez St., Heritage Homes, BF Resort Village, Talon 2, Las Pinas City (Minimum bid price is Php3,145,000.00 as per listing below). Sorry I was not able to take pictures of the inside of the house. This property has 3 bedrooms, 2 toilets and 2 baths, and a 1-car garage. You will also see on the picture below that there is what appears to be a store or office area on the left side (the caretaker said that portion of the property used to be an agency).
- (Update as of September 24, 2011 – This property has been SOLD!) Property 17 – No. 60 B21 L24 Margie Moran St., BF Resort Village, Talon 2, Las Pinas City (Minimum Bid Price is Php 2,255,000.00 as per listing below). This property has 3 bedrooms, 2 toilets and 2 baths, a 1-car garage, and a water tank.
The gallery below contains pictures of the interior of the house
* Note – appliances, etc. are not included, they belong to the caretaker
RCBC Savings Bank dream buys auction on September 24, 2011
Yes, these are included in the public auction to be conducted by RCBC Savings Bank tomorrow, September 24, 2011. If you have not seen the complete listing, checkout my scanned copy below. The properties above are on page 1.
If this is the first time for you to see this list, it is obviously too late for you to do your due diligence (getting a certified true copy of the TCT’s alone would take 3 days at the Registry of Deeds in Las Pinas City).
As usual, “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 to withdraw any property before auction. Inadvertent misprints shall not alter the property’s factual condition nor shall they be deemed as misrepresentation of the property.”
Anyway, if no one makes a bid for any of these RCBC Savings Bank foreclosed properties in tomorrow’s auction, they will still be for sale through negotiated sale, although the the minimum bid price will be the same.
Looking for Las Pinas foreclosed properties?
By the way, if you are interested in any of the foreclosed properties located in Las Pinas, I would be more than glad to assist you as I am already an accredited real estate broker of RCBC Savings Bank.
For those attending tomorrows auction, good luck on your bids!
~~~
To our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: https://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: I am an accredited real estate broker of RCBC Savings Bank and will earn a professional fee for each sale of their foreclosed properties credited to me.
P.S. I am helping a fellow real estate investor market a Quezon City Townhouse for sale located in Kamuning. This is also available through a rent-to-own scheme. Please call/txt 09157603090/5059259 for more details. A video of the townhouse can be seen below.
Hello Jay!
i am interested dun sa property sa bfrv 9 available pa ba yun and pano arrangement and how abt the taxs updated ba payments.hope to hear from you
thanks
malou/09158875099
hello mr. jay…can you please update me if u have foreclosed properties in las pinas? amounting to 1.5. tnx a lot
Hi Mr. Jay,
Can you please furnish me some of the foreclosed properties in Las Pinas?
Thank you.
I like your style and wish you could be my mentor in seeking oppurtunities in foreclosed properties.
Sir Jay, I am also interested in the foreclosed properties of Las Pinas. Can you please update me with the foreclosed properties you have in Las Pinas. Thank you very much. Hope to hear from you soon.
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Good evening,
If you still have foreclosed house and lot for sale. Please let me know, Ive been searching but no luck. I am currently station in korea but I do have family there that can check the property. I will be in the philippines around mid june to august.
Looking forward to hear from you.
In case you have one here is my fb account: [email protected]
@gmail:disqus
Thanks
Raisa Ramirez
Hi Jay,
Good to know that you also focus on the properties in Las Pinas (hope that also includes BF Homes Paranaque). I was one of the TRP seminar participants last May 28, 2011. I would like to ask if you can assist me (as an investor) with my two buyers (end-buyers) of a house and lot in BF Homes (Las Pinas/Paranaque). There are already foreclosed properties that they like and they are willing to buy on ‘as is where is’ basis. Hope you will reply or send me an email. Thanks very much.
Hi Madet, yes I would be glad to assist you, even with Paranaque properties. After the TRP seminar last May, and I’m glad you are taking action!
Your comment could not have come at a better time since I am just about to checkout the available properties they will include in their next auction and I can definitely assist you with those properties you and your buyers are interested in. I’ll send you an e-mail as well. Thanks!
Hi Jay, I dont have any experience in bidding yet but I’m interested on foreclosed properties in Las Pinas. Can you please send me the list (with details) if you have any ranges from P1M to P2.2M at [email protected]. Thanks.
hello Jay thanks for the encouragement. . . so you have expanded your areas by including las pinas. . . we’ll i think las pinas is indeed a good place, it was not really affected by ondoy (except for very few places)…and almost all places are covered by the friendship route to evade traffic. . . plus of course, the recent maynilad invasion. . .
i wonder why nobody bidded for the paranaque properties though. . .
Actually I have decided to limit my focus to Las Pinas (used to be Antipolo). Yup, I was also wondering why not even a single property from Paranaque, Pasig, and even Antipolo got sold. Judging from the turnout, either las Pinas is a hot market, or most of the brokers are focused in Las Pinas area. 🙂
hi orly , may i know what is the advantage of tagged as direct buyer? does it mean you can get the property without paying any commissions to a broker? which in turn can lower the total property cost? thanks
Hi n5110, on behalf of Orly, let me try to answer your question. Being tagged as a direct buyer simply means you deal with the bank directly with no broker representing you. By the way, the selling price of a property is not affected at all by having a broker because broker fees are always for the account of the bank. Accredited real estate brokers of banks do not get broker fees from buyers. The absence of a broker in turn would not however mean that the bank can lower their price. I believe this is bank policy.
hi jay, thanks for the reply. i got my first investment through rcbc auction. at the moment still looking for tenant to rent my space. hinde pala ganun kabilis and rentahan. but im happy with my investment and pagpuno ng tenants ito it will really help to earn income for bank amortization. salamat po 🙂
Wow, glad to hear you got your first investment! It is also nice to know you are renting it out, and you are not flipping it. I believe rentals is the way to go for long term cashflow and wealth. Goodluck and I would love to hear updates from you with regard to your rental property!
Sir Jay i saw you during the auction last Saturday. . . I was about to approach you since i dont have a broker but since Alex Siao already tagged me as dirrect buyer, i just didint bother. . . That was the first time that i participated an auction. I bidded for 2 properties both in Las Pinas but i didnt win any. . .hehehe. .. the first proerty has a minimum bid of 1.517 M but it ended at 2.8 million. . . (i just bidded up to 1.750 M) the second property i bidded is the one in your blog, again, i just bidded up to 2.5 it reached up to 2.750 i think. . .
I was hoping sana to make my first home as my first inverstment but twas not yet my time…
Hi Orly,
You should have approached me, I also met another bidder after the auction who is also a frequent visitor here. His name was Richard and he brought along his whole family, but they also lost on their bid, just like you and my client, who also made a bid on the property in Simonette street in Las Pinas (the one that wound up sold for 2.8M from 1.517M). Yes, the winning bid for the one on Margie Moran Street was 2.75M
It seems the auction had lots of participants because a lot of brokers brought clients. Anyway, don’t worry, there is always a next time and I too had a lot of failed bids before I won and the rest, as they say, is history. 🙂
Just look at it this way, you found properties that a lot of people also wanted. It could mean they are really good deals and now you can spot them right? Just keep at it and you will find even more good deals and it would be only a matter of time before you will win on your bid.
Sir Alex Siao of RCBC Savings Bank was the one who spearheaded an event prior to the auction where they invited accredited brokers (including me… hehe) for the south area and I believe it was a great success. I will be focusing on the Las Pinas area (both as an investor and a broker) and I hope to see you in their next auction!