Star Properties shall be conducting another round of their Star Auctions on July 3, 2010, at Max’s Star Mall, Edsa cor. Shaw Boulevard, Mandaluyong City, Philippines. Registration starts at 9:00am and the auction starts at 10:00am. This auction of repossessed properties was originally scheduled for June 19 and will push through on July 3, 2010 instead, which is turning out to be a very busy day. On the same day, Property Forum Philippines will also conduct the Subastahan ni Papa Auction and Independence Day Auction. I will also be attending the Money Summit and Wealth Expo on that day.
Anyway, based on the auction announcement, one can buy repossessed properties for as little as 10% downpayment, and with the balance payable up to 5 years at 15% interest per anum, or through bank financing. A “Knock out deal” option is also available where properties can be reserved prior to the auction. Now there is no need for 5% add-on.
Locations of repossessed properties
Repossessed properties up for grabs in “The Star Auction 2010” on July 3 are from the Greater Manila Area and available locations per property classification are as follows:
Residential repossessed properties
- Las Pinas
- Quezon City
- San Juan
Commercial repossessed properties
- Las Pinas
- Quezon City
Agricultural repossessed properties
Industrial repossessed properties
- Quezon City
Mixed-use repossessed properties
- Quezon City
Memorial repossessed properties
How to join this auction of repossessed properties
1. Click here to download a copy of the listing in PDF format or click on the image below to download a copy in JPG format.
Source: Star Properties Booth, REBAP National General Membership Meeting, June 24, 2010, Quezon City Sports Club
2. Call Star Properties, Inc.. directly to get more details about the property that interests you and also to schedule a property inspection if warranted. Their telephone numbers can be found on the listing above.
3. Do your due diligence by checking the legal condition of the property through its Transfer of Certificate of Title(TCT) or Condominium Certificate of Title (CCT), Tax declaration, etc. It is also advisable to check for any arrears for Homeowner Association dues/Condo dues, Utilities like water and electricity, real property taxes, etc. Please refer to these set of questions which can also help with your due diligence.
4. Attend the auction to bid if and only if the property passed your due diligence. Show money is Php10,000.00 cash or Manager’s Check per property payable to STAR ASSET MANAGEMENT ROPOAS, INC.
The fine print
All Properties are offered on an “As-is, Where-is” basis. Titles of properties are either under 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 any time. Changes in prices are subject to the sole discretion of the seller.
About Star Properties Inc.
STAR Properties is one of the companies belonging to the Star Group of Companies. The STAR GROUP specializes in the acquisition, management and disposition of personal and real properties and is basically structured into these three main components – acquisition, management and disposition of properties. It has so far acquired over three thousand properties located across the Philippines, ranging from residential, commercial and industrial properties.
Reminders – Please read!
For inquiries specific to any of the repossessed properties on the list, please contact Star Properties Inc. directly through the contact numbers which can be seen on the list and also above. I am not accredited with Star Properties Inc. so I really can’t answer questions about any of the properties on the list. I am just posting this as a public service to readers and subscribers of ForeclosurePhilippines.com
For other questions, please post them through a comment below so that others with the same questions may also benefit from the answers. Thank you.
To our success and financial freedom!
Real Estate Investor
Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.
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Tagged with: Acquired assets, agricultural repossessed properties, Bank Foreclosed Properties, Foreclosed properties, Greater Manila Area, industrial repossessed properties, knockout option, repossessed properties, residential repossessed properties, Star Group, Star Properties Inc., Star Properties Inc.
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