Wednesday, March 11, 2015

More Than 1,500 Pag-IBIG Foreclosed Properties For Public Bidding On March 16 and 17, 2015

A total of 1,507 Pag-IBIG foreclosed properties located in Batangas, Bulacan, Cavite, Laguna, Metro Manila, and Rizal shall be for sale through a public sealed bidding on March 16 and 17, 2015. You may download the complete list of pag-ibig foreclosed properties below. Please refer to the general guidelines and instructions for bidders within the listings for more details.

The two batches of sealed biddings with respective dates, areas included, and total number of  Pag-IBIG foreclosed properties per batch, can be seen below:

Batch 1:

DATEAREASNO. OF UNITS
March 16, 2015Batangas, Bulacan, Cavite, Laguna, Metro Manila, and Rizal755

 

Batch 2:

DATEAREASNO. OF UNITS
March 17, 2015Batangas, Bulacan, Cavite, Laguna, Metro Manila, and Rizal752
Bidding Terms:

As stated in the general guidelines, Bids cannot be lower than the minimum bid on the list.

Furthermore, bidders are required to submit a “BIDDER’S BOND either in CASH or MANAGER’S CHECK issued by any commercial bank, payable to Pag-IBIG Fund for an amount equivalent to 10% of the BID PRICE”, per bid proposal.

The bidder’s bond will also serve as  the down payment for winning bidders.

Note: The bidder’s bond should be refundable for non-winning bidders, although I did not see any provision for this in the guidelines.

Payment for the balance amounting to ninety percent (90%) of the winning bid can be paid through:

  • Cash – on which the approved purchase price shall be paid not later than thirty (30) calendar days from date of receipt of Notice of Award (NOA).
  • Installment basis – on which payment shall be in equal monthly installment inclusive of interest and provided the chosen payment term shall not exceed twelve (12) months.
  • Pag-IBIG Housing Loan

As usual, all foreclosed properties are for sale on an “as is where is" basis.

For more details, please contact Pag-IBIG directly. (their contact details are within the listings that you can download below)

About Jay Castillo

Jay is the founder of Foreclosurephilippines.com where he shares real estate investing tips and foreclosed property listings. He quit his job as an I.T. Manager to focus on Real Estate Investing and Internet Marketing. He is a PRC licensed Real Estate Broker (REB License # 3194)


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