Friday, February 6, 2015

PNB to hold auction of properties in Mindanao

A major local bank in the country, Philippine National Bank the  has scheduled a public auction of acquired real estate assets located in Bukidnon, Misamis Occiental, Misamis Oriental , and Lanao del Norte.

Auction proper starts at 2:00 p.m. on Wednesday, February 11. Bidders, registered brokers and referrers should be present at the PNB Oroquieta Branch on Sen. Jose Ozamiz St., Lower Lamac, Oroquieta City, Misamis Occidental.

The auction features residential lots as well as a number of agricultural lots. Among the assets up for bid are the following:

Item S1: an agricultural lot measuring 80,299 square meters, located in Poblacio Sur, Don Carlos, Bukidnon. Minimum bid price: P1,610,000.

Item S17: a residential lot measuring 521 square meters in lot area, located in Purok 10, Poblacion, Valencia, Bukidnon. Minimum bid price: P365,000.

Item S21: a residential lot measuring 211 square meters in lot area, located in Brgy. Tubod, Rosario Heights Subd., Iligan City, Lanao del Norte. Minimum bid price: P380,000.

Item S25: a residential lot measuring 209 square meters in lot area, located in Brgy. Tubod, Rosario Heights Subd., Iligan City, Lanao del Norte. Minimum bid price: P340,000.

Item S26: a residential lot measuring 7,272 square meters in lot area, and 148 square meters in floor area. Located in Maningcol, Ozamiz City, Misamis Occidental. Minimum bid price: P2,700,000.

Item S39: a residential lot with improvement, measuring 358 square meters in lot area and 102 square meters in floor area. Located in Tudela, Misamis Occidental. Minimum bid price: P80,000.

Item S40: a residential lot measuring 481 square meters in lot area, located in Brgy. 13, Poblacion, Cagayan de Oro City. Minimum bid price: P4,330,000.

Item S45: a residential lot measuring 1,853 square meters in lot area, located in Brgy. Cabug, Medina, Misamis Oriental. Minimum bid price: P380,000.

Interested parties are advised to refer to and abide by auction rules and guidelines, available from PNB. 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. 

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.

For inquiries, call (02) 573-4115 or (02) 573-8-PNB loc. 8762.


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