Tuesday, March 3, 2015

PNB Koronadal Auction

The Philippine National Bank or PNB has scheduled an auction of real estate assets on Wednesday, March 11, 2015. Auction proper will begin 2:00 p.m. at the PNB Koronadal Branch on Morrow Street, Koronadal, South Cotabato.

Located in South Cotabato and Sultan Kudarat, the properties for bidding consist mainly of residential lots as well as residential house-and-lots, with one industrial and one residential/commercial entry each.

Assets up for auction include the following:

ITEM SA1
Type: Industrial
Lot Area: 9,734 square meters
Floor area: 132 square meters
Address: Lot 1370-A-1, Purok San Roque, Poblacion, Norala, South Cotabato
Mininum Bid Price: P8,800,000.

ITEM S6
Type: Residential
Lot Area: 455 square meters
Floor Area: 172 square meters
Address: Lot 1, Block 4, Zone III, Pantua Subd., Koronadal, South Cotabato
Minimum Bid Price: P2,700,000

ITEM S7
Type: Residential/Commercial
Lot Area: 571 square meters
Floor Area: 720 square meters
Address: Lot 660-A & B, Buencamino St., Kalawag 1, Isulan, Sultan Kudarat
Mininum Bid Price: P2,300,000

ITEM S9
Type: Residential
Lot Area: 1,020 square meters
Floor Area: 78 square meters
Address: Lot 2, 5, 6, Blk 5, Pioneer Village, General Santos City, South Cotabato
Minimum Bid Price: P1,800,000

ITEM S13
Type: Residential
Lot Area: 300 square meters
Floor Area: 137 square meters
Address: Lot 1320-Aa, Purok Libertad, Poblacion, Sto. Nino, South Cotabato
Minimum Bid Price: P650,000

ITEM S18
Type: Residential
Lot Area: 300 square meters
Floor Area: 96 square meters
Address: Lot 3-C-6, Brgy. Apopong, Yu Village, General Santos City, South Cotabato
Minimum Bid Price: P350,000

ITEM S22
Type: Residential
Lot Area: 693 square meters
Floor Area: 65 square meters
Address: Lot 2218, Purok Paglaum, New Iloilo, Tantangan, South Cotabato
Minimum Bid Price: P250,000

ITEM S23
Type: Residential
Lot Area: 402 square meters
Address: Lot 5 & 9 Block 3, Eborde Subd., Sto. Nino, South Cotabato
Minimum Bid Price: P200,000

For a copy of the bidding Terms of Reference, email reyesmcd@pnb.com.ph or call (02) 891-6040 / (02) 526-3131 oc. 4535.

Bids will be accepted at the auction proper. The winning bidder shall be based on the complying bid with the highest net proceeds to the bank and in accordance with the Terms of Reference.

Approach your nearest PNB branch or refer to the PNB Website for the complete list of properties for bidding. Interested parties are advised to to abide by auction rules, guidelines, and procedures.

As for terms of payment, winning bidders can pay via cash or by installment. Under a Regular Sale, interest rates are fixed at 6% for up to 5 years, or fixed at 8% for 5 to 10 years. For properties bought at P5 million or less, eligible under PNB's Pabahay Bonanza Program, interest rates are fixed at 6% for up to 10 years, or fixed at 8% for 10 to 20 years. The Pabahay Bonanza requires a 20% deposit from bidders. To know more about the Pabahay Bonanza, click here.

Bidders are advised to exercise due diligence and examine the physical and legal conditions of the property prior to the auction. Winning bidders must deposit 10% of the offer price, acceptable in cash or manager's check only. In the event that the winning bidder fails to comply with the specified payment terms, the deposit of 10% shall be forfeited as penalty.

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