Pag-IBIG Foreclosed Properties Auction

Pag-IBIG foreclosed properties are up for grabs through public auctions to be held on July 18 and 19, 2013 at the 7th flr. Conference Room, JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City.

General auction guidelines, the complete list of Pag-IBIG foreclosed properties for sale, a vicinity map of the auction venue, contact info, and other details, can be found below.

Pag-IBIG General Auction Guidelines

1. Interested parties are required to secure copies of: (a) INSTRUCTION TO BIDDERS (HQP-AAF-104) and (b) OFFER TO BID (HQP-AAF-103) from the office of the Acquired Assets Management at 7th Flr. JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City or may download the forms at www.pagibigfund.gov.ph (link Property Finder/Acquired Asset Properties).
2. The Schedule for Public Bidding shall be in two (2) tranches, as follows:

Tranche	Date	Area
1st	July 18, 2013	Manila, Bulacan, Laguna, and Rizal
2nd	July 19, 2013	Cavite

3. The Invitation to Bid shall be published at least once in newspapers of general circulation; a listing of available acquired assets shall be continuously posted in the Pag-IBIG Fund website
4. Sealed proposals shall be received by the Committee on Disposition of Acquired Assets’ Secretariat at Conference Room 7th Flr. JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City starting at 8:00 AM but not later than 12:00 NN on the scheduled date per tranche as indicated above (see no. 2), immediately afterwhich, the said proposals shall be opened in the presence of attending bidders. Bidders are advised to submit their proposals only on the scheduled date of tranche. No proposals shall be accepted by the committee earlier or later than the scheduled date.
5. The Opening of Bids shall commence from 1:00 PM to 5:00 PM of the scheduled dates.
6. Purchase of the said property may be either of the following modes of payment:
   • 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.
7. The Minimum Bid shall be based on the appraisal value. The occupancy status on the “REMARKS” portion is based on the condition of the property upon appraisal
8. The Bidders shall be present at the opening of bids. Bidders may delegate their Authorized Representatives, provided they shall issue the following documents:
   • Special Power of Attorney for individual-bidder
   • Secretary’s Certificate for company-bidder
9. Each bid proposal shall be accompanied by a BIDDER’S BOND 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
10. Properties shall be sold on an “AS IS, WHERE IS” basis.
11. If the winning bidder fails or refuses to push through with the purchase of the property, or fails to pay in full the remaining balance within 30 calendar days from receipt of the Notice of Award (NOA), he shall lose his right as winning bidder and the 10% bidder’s bond shall be forfeited in favor of the Fund.
12. All interested buyers are encouraged to inspect the said property before tendering their offers.
13. Interested parties may visit the ACQUIRED ASSETS MANAGEMENT or contact Ms. ROSCIEL A. BRIONES or MR. JEFFREY D. ALVARICO at tel. nos. 654-1398 and 654-2410. You may also email your inquiries for further details at aad_ms@pagibigfund.gov.ph.

Pag-IBIG Fund RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS, TO WAIVE ANY FORMALITY THEREIN OR ACCEPT SUCH BIDS AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE FUND. THE DECISION OF THE FUND IS FINAL AND BINDING.

Source: Pag-IBIG website

Source: http://www.foreclosurephilippines.com/2013/07/pag-ibig-foreclosed-properties-for-sale-through-auction-july-18-and-19-2013.html#ixzz2YpxokLZo