Just a quick heads up. A public sealed bidding of the acquired assets of the  Philippine Deposit Insurance Corporation (PDIC), through their Real and Other Properties Acquired (ROPA) Disposal Committee,  will be conducted on June 28, 2011 from 9:00am to 2:00pm, at the Training Room, 9th Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino St., Makati City, Philippines.

I found this while I was checking my list of Philippine bank websites with foreclosed property listings.

PDIC public bidding details

All documents related to the public bidding on June 28, 2011 can be found below

• Invitation to Bid – This contains the invitation to bid and a list of all the PDIC acquired assets or ROPA that are included in public sealed bidding
• Conditions of Bid
• Bid Form
• Secretary’s Certificate (proforma)
• Special Power of Attorney (proforma)
• Bidder’s Advisory – Read this prior to filling-up the bid form!
• Checklist of Requirements

Source: http://www.pdic.gov.ph/index.php?newasset=1&astat=1

By the way, the PDIC website has been updated and the new address of the page that contains all of their assets for disposal is as follows: http://www.pdic.gov.ph/index.php?newasset=1

Happy hunting!

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker Registration No. 3194
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.

PS. Facing foreclosure? Tired of being a landlord? Need to liquidate your proprty because you need money? Click here to sell your property fast!

Public sealed bidding of PDIC acquired assets slated on June 28, 2011 is a post from: Foreclosure Investing Philippines

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The Philippine Deposit Insurance Corporation (PDIC), through their Real and Other Properties Acquired (ROPA) Disposal Committee, shall be having another sealed bidding of properties of closed banks on December 17, 2010, 9:00am, at the 9th Floor,  PDIC Training Room, SSS Building, PDIC Extension Office, Ayala Avenue corner Rufino Street, Makati City. They will accept sealed bids only up to 2pm.

The list of closed banks whose ROPA are for sale are as follows:

• Accord Savings Bank, Inc.
• Balayan Bay Rural Bank (Batangas), Inc.
• Bank of East Asia [Banco Rural del Bisayas (Minglanilla, Cebu)], Inc.
• Orient Commercial Banking Corporation
• Rural Bank of Bautista (Pangasinan), Inc.
• Rural Bank of Dasol (Pangasinan), Inc.
• Rural Bank of Malilipot (Albay), Inc.
• Rural Bank of Nampicuan (Nueva Ecija), Inc.
• Rural Bank of Oas (Albay), Inc.
• Rural Bank of San Miguel (Bulacan), Inc.
• Rural Bank of San Pedro (Laguna), Inc.
• Rural Bank of Sta. Rita (Pampanga), Inc.
• Sandigan Savings Bank, Inc.

Download the complete list of foreclosed properties or bank acquired assets

Click here to download the INVITATION TO BID for the sealed bidding of ROPA of closed banks.

Source: PDIC Website

Bid forms, copies of the Conditions of Bid and standard format of the Special Power of Attorney and Secretary’s Certificate which are required for participants who are submitting a bid on behalf of another individual or an organization, respectively, may be secured free of charge from: PDIC Ayala Extension Office, Asset Management Group, 7th Floor, SSS Bldg., No. 6782 Ayala Ave. cor. Rufino St., Makati City. Bid documents may also be downloaded from the PDIC website.

Reminders (PLEASE READ)

Don’t forget to call the PDIC ROPA Disposal Committee directly to get more information through telephone numbers 841-4000 local 4729 or 4731.

Yes, please call the PDIC ROPA Disposal Committee directly! I am neither connected, nor accredited with PDIC. I am just posting this as a pubic service to readers and subscribers of Foreclosure Investing Philippines.

Happy hunting!

To our success and financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead!

PDIC sealed bidding of ROPA of closed banks slated on December 17, 2010 is a post from: Foreclosure Investing Philippines

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This serves as a reminder for those interested in joining the sealed bidding of Philippine Deposit Insurance Corporation or PDIC foreclosed properties and acquired assets on November 26, 2010. If you regularly check our Ultimate list of Philippine bank websites, you should already know this.

Close to 200 foreclosed properties and bank acquired assets located all over the Philippines are included on the list of bank acquired assets/foreclosed properties for sale. As mentioned in the invitation to bid, it is highly recommended that prospective buyers do the following as part of their due diligence:

“Before submitting their bids, prospective buyers are enjoined to physically inspect the properties they are interested in, examine and verify their titles and other related documents, and determine any unpaid taxes, fees and/or expenses, such as, but not limited to, capital gains tax or creditable withholding tax, whichever is applicable, documentary stamp tax, registration and transfer fees, association or condominium fees and/or assessments, and all other expenses and charges in order to cause the transfer of title from the named owner to the bidder.”

One thing I like about this list from the PDIC is they include the status of each property as indicated on the Title/TD column on the list of foreclosed properties for sale. This is undoubtedly very helpful to interested buyers. Here is a list of the status codes and their respective descriptions:

a – Title registered in PDIC’s name
b – Title registered in borrower’s name
c – Title registered in the name of mortgagee / originating bank
d – Covered with TD (only) in PDIC’s name
g – Original Owner’s or ROD’s copy of TCT missing; for reconstitution
h – Title not in possession of PDIC but with conditional guarantee for release by entity in possession
i – With notice of levy or attachment, notice of tax lien, lis pendens or encumbrance / legal case
j – With annotation of encumbrance for cancellation
k – With unpaid taxes
l – With lesses / tenants / informal dwellers / caretaker / encroachment / planted to crops
m – Buyer to determine occupancy / tenancy
n – Needs resurvey
o – No Right-of-Way or used as Right-of-Way
p – Land owned by another party
r – Net of Right-of-Way / easement due to waterways, river, creek, erosion
s – Improvement, vault door, FFEs & other items thereat not included
x – With subdivision / condominium restrictions and/or subject to special conditions
y – With annotation pursuant to Rules of Court or RA or Civil Code or other pertinent laws
C- Title registered in the name of mortgagee / originating bank and the co-owner
D – Subject to DAR clearance for account of buyer

Click here to download the invitation to bid for PDIC foreclosed properties for sale through sealed bidding on November 26, 2010

Source: pdic.gov.ph

Reminders: Please read!

I am neither accredited nor connected with PDIC so if you need further information, please call PDIC directly through telephone numbers 841-4000 local 4665 or 4671.

Happy hunting!

To our success and financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.

PS. Attend Larry Gamboa‘s Think Rich Pinoy Seminar on December 4, 2010. Click here now to grab your seats! or click here to download more information (please feel free to forward this your friends).

PPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Mailbox getting full? Subscribe through my RSS Feed instead!

PDIC foreclosed properties for sale through sealed bidding on November 26, 2010 is a post from: Foreclosure Investing Philippines

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I recently came across an invitation to bid from the Philippine Deposit Insurance Corporation (PDIC). This invitation to bid is quite interesting because the properties that are for sale through sealed bidding are actually the Real and Other Properties Acquired (ROPA) of closed banks. I guess this helps confirm my answer to a recent comment by Jun where he had a concern with regard to a property he got through a tax foreclosure auction whose title had an inscription of mortgage with a bank that was already closed. It appears that properties of closed banks really do end up with PDIC.

Up for sale through sealed bidding are properties from the Visayas and Metro Manila areas. Submission of sealed bids for Visayas properties will be on December 8, 2009, 10:00 am – 2:00 pm. For Metro Manila and other areas, the submission of sealed bids will be December 15, 2009, 10:00 am – 2:00 pm.

*Update – I forgot to mention that the list also contained a number of bank repossessed cars.

Please refer to the invitation to bid below for more details.

PHILIPPINE DEPOSIT INSURANCE CORPORATION

PDIC Ayala Extension Office, R/L Administrative & Special Services Department

4th Floor, SSS Bldg., No. 6782 Ayala Ave. cor. Rufino St., Makati City 1226

eMail:cbropa@pdic.gov.ph

www.pdic.gov.ph

INVITATION TO BID

Sealed bids will be accepted by the Philippine Deposit Insurance Corporation (PDIC), the Liquidator, thru the Receivership and Liquidation (R/L) Real and Other Properties Acquired (ROPA) Disposal Committee (hereinafter referred to as the “Committee”) on the following dates and venues:

Area where the properties are located	Date/Time of Submission of Bids	Venue
Visayas	December 8, 2009/10:00 am – 2:00 pm (PDIC Time/No Extension) There is a registration process. In order to comply with the 2:00 pm deadline for the submission of bids, participating bidders are enjoined to come one (1) hour earlier to allow enough time for registration.	BSP Bacolod Branch Lacson cor. Luzuriaga St. Bacolod City
Metro Manila and other areas	December 15, 2009/10:00 am – 2:00 pm (PDIC Time/No Extension) There is a registration process. In order to comply with the 2:00 pm deadline for the submission of bids, participating bidders are enjoined to come one (1) hour earlier to allow enough time for registration.	6F Resource Center Conference Room, PDIC Extension Office SSS Building, Ayala Avenue cor. Rufino St., Makati City

for the sale of properties of closed banks subject to terms and conditions in the Conditions of Bid. Prospective buyers are enjoined to inspect the following listed properties before participating in the public bidding. Property descriptions below are based on available records of PDIC and the bidder must verify them against the property itself…

The fine print

…Pursuant to the Conditions of Bid, the sale shall be for CASH and on “AS-IS” basis. Each bid proposal shall be accompanied by a deposit equivalent to at least ten percent (10%) of the submitted bid in the form of Cash or Manager’s/Cashier’s Check payable to PDIC FAO (Bank Under Liquidation). The winning bidder shall pay the balance of the bid price not later than 15 and 22 December 2009 for the Visayas and Metro Manila biddings, respectively.

The bidder shall be responsible in determining the actual amount of unpaid taxes due on the properties and holds him/herself solely liable for the payment thereof. The winning bidder shall assume the payment of all taxes, fees and expenses such as but not limited to capital gains tax, creditable withholding tax, documentary stamp tax, notarial fee, registration expenses, transfer fees and all other fees incidental to the execution and registration of the Deed of Absolute Sale and the transfer of title. The winning bidder shall undertake the responsibility of acquiring and maintaining peaceful possession and enjoyment of the property without seeking the assistance of PDIC.

The Committee reserves the right to reject any or all bids; to accept the bid most advantageous to the bank and to withdraw any of the properties from the bidding at any time before 2:00 p.m. (PDIC time) on 8 and 15 December 2009 for the Visayas and Metro Manila biddings, respectively.

Bid forms, copies of the Conditions of Bid and standard format of the Special Power of Attorney and Secretary’s Certificate may be secured free of charge from the above cited PDIC address. Bid documents may also be downloaded from the PDIC website at www.pdic.gov.ph.

For further information, interested bidders may call telephone numbers 841-4000 local 4729, 30 or 31. In case of flood, storm or other natural calamities or if the published date is declared a non-working holiday that may result in the cancellation of holding the public bidding on the published date, such public bidding shall be held on the next working day at the same time and venue.

Bidders/observers are advised to bring proper identification (ID) which shall be required for entry to the bidding area. Bidders are also advised to come one (1) hour earlier than the 2:00 pm deadline to allow enough time for registration.

R/L ROPA DISPOSAL COMMITTEE

Click here to download PDIC’s invitation to bid which contains the complete list of bank acquired properties for sale on December 8 and 15, 2009.

Source: http://www.pdic.gov.ph/index.php?asset=1

Don’t forget to checkout the bid documents from PDIC’s website:

• Conditions of Bid
• Bid form
• Bidder’s advisory

Note: I am posting this as a service to readers and subscribers of Foreclosure Philippines. For further information and inquiries, including but not limited to specific questions about any of the properties on the list, please contact PDIC directly. Thank you.

Happy hunting!

—

My vision – financial freedom for all!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Click here to contact me via E-mail
Mobile phone (Call/SMS): +639178843882
Follow me in twitter: http://twitter.com/jay_castillo
Become a Fan in Facebook: Foreclosure Philippines fan page

Text by Jay Castillo. Copyright © 2009 All rights reserved.

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PDIC to sell bank acquired properties of closed banks through sealed bidding is a post from: Foreclosure Investing Philippines

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