Home » Foreclosed Properties » Why Buy Foreclosed Properties From RCBC Savings Bank’s Dream Buys Public Auction On April 18, 2009?

Why Buy Foreclosed Properties From RCBC Savings Bank’s Dream Buys Public Auction On April 18, 2009?

One reason would probably be because they are giving discounts on previously unsold bank foreclosed properties. I noticed some foreclosed properties that remained unsold in previous Dream Buys Auctions of RCBC Savings Bank have had their minimum bid prices reduced by 5%.

If you have been watching this particular public auction listing like me, you may have noticed this as well. Don’t take my word for it, checkout the previous auction listing and compare them with the properties listed in this post. Look for properties that exist on both lists and do the math.

This run of RCBC Savings Bank’s Dream Buys Auction will be held on April 18, 2009, 9:00AM, at the Development Academy of the Philippines (DAP) Building, San Miguel Avenue, Pasig City. Take note that this public auction coincides with the public auction of Unionbank so you need to decide which auction you would want to attend.

The bank foreclosed properties up for public auction are from Makati, Paranaque, Las Pinas, Muntinlupa, Quezon City, Marikina, Antipolo, Caloocan, Cainta, Rizal, Valenzuela, Laguna, Cavite, Bulacan, Bataan, Pampanga, Tarlac, Pangasinan, Baguio, Batangas, and Quezon Province.

For more details, download the foreclosed property listing of RCBC Savings Bank’s Dream Buys Auction for April 18, 2009 here!

As low as 20% downpayment is required and the balance is payable for up to 10 years at 12% interest per annum fixed for the first 5 years, repriceable on the 6th to the 10th year. At 12% per annum, that’s about Php1,435.00 monthly amortization for every Php100,000.00 amount financed.

So what do you need to bring if you want to buy a foreclosed property? Just bring your show money of Php25,000 in cash or manager’s check (highly recommended) per property.

Please do take not that this public auction is for RCBC Savings Bank foreclosed properties and acquired assets. The main RCBC Bank will also be having their own public auction on April 25, 2009.

Happy hunting!

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About Jay Castillo
People encounter problems and make mistakes when buying foreclosed properties, and Jay wants to help people avoid those problems/ mistakes. Jay encountered a lot of those, which is why he started this blog in 2008 to serve as a guide where he shares lessons learned, and how to overcome challenges you may encounter when investing foreclosed properties in the Philippines … [Read more]
Avoid losing money, wasted time and effort caused by buying foreclosed properties that have too many problems, with our free 60-item Property Due Diligence Checklist. Grab your free copy now.

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20 thoughts on “Why Buy Foreclosed Properties From RCBC Savings Bank’s Dream Buys Public Auction On April 18, 2009?”

  1. Thanks for your reply…

    with my small clients, Would you work with a non real estate broker like me.. If so, how do we get started?????

    have a nice day

  2. Greetings Sir,

    I wish to learn more about foreclosed properties
    and how to secure details of said properties…

    I also wonder why the interest rate is at 12% my bank charges only 9 to 10%

    We have buyers waiting.

    This is one good site.

    have a good day and thanks.

    • @ Eric, the 12% interest is usually for payment terms that are 10 years for properties with minimum bid prices more than 1M. Thanks for the kind words! Please feel free to browse the site to learn more about foreclosed properties or you can also post your questions here. Thanks again!

  3. Greetings Sir,

    I wish to learn more about foreclosed properties
    and how to secure details of said properties…
    I buyers at hand waiting.

    I also wonder why the interest rate is at 12% my bank charges only 9 to 10%


  4. @Donna, thanks for the email. I already replied with the details. Please check. Thanks!

    @Ghunzel, Why don’t you treat your house as your first investment? I suggest you do this so that in the future, when you do decide to move to a new home, you can still keep the property as a rental property or sell it at market value and make a hefty profit. Sayang naman yung opportunity. To take care of the 12% interest and to lower the monthly amortization, yes you may ask the bank when and what are the requirements for you to have the property refinanced with pag-ibig or other banks that would offer lower interest rates. They would at least require a letter of guarantee from the other bank or lending institution but it would be better to ask as well when you inquire about a property. I believe banks would actually welcome refinancing as the property would be removed from their books sooner than later.

    @Tyrone, thanks a lot! my e-mail address is I suppose I’ll limit my search to residential properties, covering the entire Philippines as I see a lot of visitors are also searching for properties outside of Metro Manila.

  5. By the way, when requesting for a specific list of properties, I suggest to narrow down your search as we have a lot before. Narrow it down to say, location, then type of land (residential, commercial, etc.) and minimum land area, if possible. We have listings from Luzon to Mindanao.

  6. Hi Jay, thanks a lot. We are surely looking forward for that post of yours. 🙂

    By the way, what’s your email address? I can email you the number of my manager before. During my last stay, I was with the ROPOA Group. It was the group handling the foreclosed properties that we bought from several banks.

  7. Thank you for the answer. Actually, im not looking for an investment. Im planning to buy a house of my own although I’ve seen (through this blogsite) that real estate properties (especially, foreclosed properties) could be a future endeavor. That said, my primary concern is to look for a decent foreclosed property at a very affordable monthly amortization rate (which is why im a little concerned with the 12% interest rate).

    With regards to the tip, I can ask the bank when can they allow me to refinance the property to pag-ibig or other banks? prior to buying the property?

    Thanks again.

  8. @Donna, I know a few individuals who can do due diligence and I can send their contact info to you, please send me an e-mail through and I’ll reply with the contact details. Thanks for visiting!

  9. @ghunzel, yes the 12% would be high if this would be in place for the whole loan term. Here’s a tip: One can get it refinanced at lower interest rates through pag-ibig or even other banks as soon as possible, this depends on how soon the bank will allow this. As for the comparison with brand new properties, take note that foreclosed properties are way below market value(I target properties below 40%) as compared to new properties. This means if you are an investor, it does not make sense to buy brand new properties even if their financing is only at 10.5% per annum as there is no room for profit margins no matter what investment strategy you apply as described in this post about foreclosure investing strategies. For example, if you try to rent out a brand new property, you will get a negative cashflow because of the high monthly amortizations due to the high price even with a 10.5% interest rate. Furthermore, you can’t flip a brand new property and make a profit as you can’t sell it at a higher price. I hope this answers your question. Thanks for dropping by!

  10. Hi Jay,

    Thank you for the very informative blog. Do you think you can point me to companies or individuals that can conduct due diligence on properties that I’m interested in? Would really appreciate the lead.


  11. Hi Tyrone, thanks for the list of SPAVS, I currently have an old list from the the Star Group and I am going to request for an update. I’ll also be asking a list from Cameron Granville, and Capital Servicing. Would you be able to help me secure a list with Capital Servicing or can you please refer me to the person-in-charge? Thanks!

    Thanks for the heads-up with the slow page loading, it was caused by remnants of a reblog script from zemanta that I was not able to completely delete. Things are back to normal but I am also planning to do some housekeeping with regards to banners and graphics.

    Thanks for the compliment! Actually your blog is a very reliable source for personal finance management for entrepreneurs and real estate investors need information from your site. I’m cooking up a post recommending sites like yours, James’, and Fitz’. =)

  12. Hello Sir Jay,

    I would just like to ask, isn’t the 12% per annum interest rate a little too high? there are brand new properties that are financed by banks with 10.5% interest rate. am i missing something?

    Thanks in advance

  13. By the way Jay, just a comment. I noticed that your site loads quite slow. This is a disadvantage for users with slow internet connections. I hope you can arrange or delete some banners or images perhaps? And again I would like to congratulate your site. This site of yours has becoming an authority in foreclosed real estate investing here in the Philippines.

  14. Hi Jay, I do suggest to get listings of foreclosed properties from Special Purpose Vehicle (SPV-AMC) companies. I worked from one before and there I got a lot of information not only to loans but also to real estate. These are companies who acquired large portfolio of distressed assets including foreclosed properties from banks taking advantage of the SPV Law passed by Congress to help the Philippine banks disposed their bad assets and clean their balance sheets. I’m sure they have a lot of listings. From what I know, there were only few active SPV companies right now. Star Group, Cameron Granville, and ours Capital Servicing.


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