It’s been a long time since I last posted a list of bank foreclosed cars for sale (also referred to as repossessed cars), and I hope this listing will not disappoint those who are looking for cheap second hand cars. I have here 2 listings of bank repossessed cars and these are from RCBC Savings Bank and UCPB. Please checkout the individual listings below for more details.

RCBC Savings Bank repossessed cars for sale

These repossessed cars for sale from RCBC Savings Bank are for auction on October 28, 2010. I was thinking most of you out there would have already accessed this list directly at their website but it seems they forgot to update the actual list, which is why I am posting this here. Details about the auction are on the list

Click here to download a copy in PDF format or just click on the image below to download a copy in JPG format.

Source: Manila Bulletin, October 24, 2010 edition, page G-15

UCBP Repossessed Vehicles for sale

The deadline for the submission of offers for the repossessed vehicles for sale on this list from UCPB is on November 4, 2010, at 4:00pm. Just like the list of repossessed cars from RCBC above, the list of UCPB repossessed cars on UCPB’s website is not updated, and here is their latest. More details can be found on the list.

Click here to download a copy in PDF format or just click on the image below to download a copy in JPG format.

Source: Manila Bulletin, October 24, 2010 edition, page G-15

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. For those who purchased their TRQ 2.0 tickets using my affiliate links, I will be sending you your free copy of the detailed case study of one of my real estate deals latest on the second week of November 2010. It is taking longer than expected to complete. Thanks again for helping make TRQ 2.0 a huge success!

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. Inbox getting full? Subscribe through my RSS Feed instead!

Bank foreclosed cars for sale from RCBC and UCPB is a post from: Foreclosure Investing Philippines

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If you are looking for bank repossessed cars, then this post is for you. With so many listings of bank repossessed cars for sale coming out lately, I’ll just put them all here in a single post. This round-up of listings of bank repossessed cars includes listings from AMA Bank, Eastwest Bank, RCBC Savings Bank, UCPB, and Unionbank. Checkout the individual listings of second-hand cars below for more details.

AMA Bank repossessed cars

These repossessed cars from AMA Bank are for sealed bidding on August 20, 2010, See list below for more details.

EastWest Bank repossessed cars

The following is updated as of August 17, 2010. The deadline for submission of bids is on August 23, 2010. Opening of bids follows on August 24, 2010 at 10AM. Please visit EastWest Bank’s website for more details.

For auction sale guidelines and other details, please visit this page on EastWest Bank’s website: http://www.eastwestbanker.com/tool/prop4sale_auto.asp

RCBC Savings Bank repossessed cars

The repossessed cars on this list from RCBC Savings Bank were actually scheduled for public auction earlier today, August 18, 2010, 1:00pm. However, I’ll post them anyway, just in case some of the cars were not sold(which is very likely). Just call them up directly to check if a repossessed car you might be interested in remained unsold.

For more details and to check for updates on the list of repossessed cars from RCBC Savings Bank, please visit this page on their website: http://rcbcsavings.com/?p=78

UCPB repossessed cars

This list of UCPB repossessed cars is updated as of August 15, 2010 and are for sealed bidding on August 24, 2010. See list below for more details.

UnionBank repossessed cars

For more details and to check for updates on the list of repossessed cars from Unionbank please visit this page on their website: http://unionbankph.com/index.php?option=com_content&view=article&id=1039&Itemid=248

Reminders!

Please don’t forget to contact the respective banks directly for information about any of the repossessed cars for sale and other details. I am just posting this as a service to readers and subscribers of foreclosurephilippines.com.

Wondering why I am posting bank repossessed cars for sale? Well, repossessed cars are actually bank foreclosed cars and a lot of people are looking for them here. Checkout this post for more details. You might also learn a thing or two as I share how a  real estate investor friend of mine applies real estate investing techniques to investing in bank repossessed cars.

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. Inbox getting full? Subscribe through my RSS Feed instead!

Bank repossessed cars round-up as of August 18, 2010 is a post from: Foreclosure Investing Philippines

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As requested by a lot of readers and subscribers of foreclosurephilippines.com, I am posting another updated list of repossessed cars for sale. This post features UCPB repossessed vehicles for sale as of July 23, 2010. Please keep in mind that the deadline for the submission of offers is on August 3, 2010, at 4:00pm. Please continue reading below for more details.

UCPB’S  REPOSSESSED VEHICLES FOR SALE as of JULY  23, 2010

TYPE	FLOOR PRICE	Mileage / Fuel
2007, Chevrolet Optra, 1.6LS, Gray, ZJM-450, A/T	372,866	32,322 kms/Gas
2003, Hyudai Matrix, Green, FFC-309, M/T	175,455	84,663 kms/Gas
2008, Nissan Sentra GX, Silver, ZSY-938 M/T	355,502	28,988 kms/Gas
2009, Kia Carens, Silver, ZSX-774, A/T	673,313	23,228 kms/Diesel
2008, Ford Escape XLS 4X2, Red, ZPM-839 A/T	574,047	32,199 kms/ Gas
2008, Mitsubishi Lancer GLX, Black, ZPY-956, M/T	374,490	28,182 kms/Gas
2006, Toyota Innova G, Silver, ZEM-689, A/T	549,765	42,640 kms/Gas
2008, Hyundai 10 GLS, Hatchback, Black, ZTF-488, A/T	233,511	Not seen ( Flooded)
2008, Mazda 3, Red, ZRY-318,  A/T	536,750	37,947 kms / Gas
2008, Mazda 3, Silver, ZSH-307, A/T	532,000	41,146 kms/Gas
2009, Mazda 3, White. ZTJ-834, A/T	583,300	22,273 kms / Gas
2010, Toyota Innova G., Brown, NOL-419, A/T	887,300	8,449 kms/ Gas
2003, BMW318i, Silver, XLJ-800, A/T	430,200	Not seen (Flooded)
2009 Mitsubishi Outlander GLS Sport, Silver, ZTV-707, A/T	969,950	20,581 kms/Gas
2008, Hyundai Getz, Red, FGF-112, M/T	314,450	30,996 kms/Gas
2008, Toyota Vios 1.3 J, Blue, ZMU-680, M/T	332,100	22,712 kms/Gas (Flooded)
2009, Hyundai Tucson, Ebony Black, (no plate), M/T	652,650	2,538 kms/Gas
2007, Toyota Innova G Night Mist, ZHA-483, A/T	545,300	109,236 kms/Gas
2006, Ford Ranger Trekker Pick-up, Silver, ZEF-837, A/T	563,350	61,830 kms/Diesel
2008 Chevrolet Captiva 4×2, Black, ZSU-896, A/T	748,600	21,569 kms/Gas
2010, Toyota Grandia GL, Pearl White, NIN-841, M/T	1,254,000	16,015 kms/Diesel
2008, Kia Rio EX, Red, KDS-615, A/T	296,685	40,230 kms/ Gas
2005, Honda Jazz I-Dsi, Red, MCD-334,  M/T	282,000	121,604 kms/ Gas
2006, Toyota Vios 1.3 J, Blaze, ZGS-690, M/T	312,000	89,923 kms/Gas
2008,  Izusu D-Max 4X2, Gold, ZSE-209 A/T	849,000	48,483 kms / Diesel
2008, Toyota Vios 1.3 E, Beige, ZPB-760 M/T	460,000	34,541 kms / Gas
2009, Toyota Vios 1.3 J, Red, ZTB-190, M/T	413,000	44,528 kms / Gas
2008, M. Adventure GLS Sport, Red Mica, ZLE-308 M/T	547,000	47,208 kms / Diesel

1) DEADLINE FOR SUBMISSION OF OFFER IS ON AUGUST 3, 2010 4:00 PM.

2) Units may be inspected at 1 Vitales Compound, Sucat Road Paranaque City ( beside PureGold B Sucat Road ) from 8:30 to 5:00 p.m. Monday to Saturday. For inquiries, please call Asset Management & Disposition Division at tel Nos. 8119963 / 811-9000 LOOK FOR GINA OR ROLLY.

3) Prices are applicable for outright purchase only.

4) All Officers interested in acquiring units under the Bank’s car lease program are required to coordinate with AMDD and HRG for the terms at least 3 days before end of auction period.

Disclaimer:

All units are on an “AS IS WHERE IS “basis. Units and prices are subject to change without prior notice. The Bank has the right to withdraw any vehicle before the auction. Inadvertent misprints shall not alter the vehicle’s factual condition nor shall be deemed as misrepresentation on the vehicle.

FINANCING AVAILABLE (for qualified units) – For inquiries, please call Auto Loans Department at tel No. 811-9000 loc 9044

Reminders – Please read!

For inquiries specific to any of the repossessed cars on the list, please contact UCPB Asset Management & Disposition Division DIRECTLY at Tel Nos. 811-9963 / 811-9000 and LOOK FOR GINA OR ROLLY

I really can’t answer specific questions about any of the UCPB repossessed cars on the list. I am just posting this as a public service to readers and subscribers of ForeclosurePhilippines.com

For other questions, please post them through a comment below so that others with the same questions may also benefit from the answers. Thank you!

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 the first ever Internet Marketing Boot Camp in Manila on July 29 and 30, 2010, an event created by Internet Marketing Maven Anton Diaz together with Larry Gamboa and Randy Manaloto. There will be 17 speakers in this two-day event in Dusit Hotel. Register now!

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. Inbox getting full? Subscribe through my RSS Feed instead!

UCPB repossessed vehicles for sale as of July 23, 2010 is a post from: Foreclosure Investing Philippines

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This is an updated listing of United Coconut Planters Bank (UCPB) repossessed cars for sale. Do take note that the deadline for submission of bids for these second hand cars is on March 24, 2010 at 4:00pm and opening of sealed bids shall follow at 4:30pm.

I highly suggest that interested parties call up UCPB directly to get more details like  the bidding procedure, payment terms, financing options, etc., and ensure these are acceptable before inspecting these UCPB repossessed cars. This should help avoid wasted time and effort. The contact details for UCPB’s Asset management and Disposition division can be found below.

As with foreclosed properties, don’t forget to do your due diligence which should at least include inspecting/verifying the physical and legal conditions of the repossessed car(s) before you even consider submitting a bid.

UCPB  REPOSSESSED CARS FOR SALE

TYPE	Floor  Price	Mileage  / Fuel
2006, Chevrolet Lumina,  Silver, ZEW-753,Automatic	P350,000	9,735 kms/ Gas
2007 Kia Rio, Sedan, Clear Silver,  KDP-617, Manual	P275,600	53,606 kms/Gas
2002, Toyota Rav 4  4×2, Gold, RQQ -888,Automatic	P331,700	78,908kms /Gas
2008, Honda City idsi  A Variant, Alabaster Silver,FGM-801, Manual	P379,600	Unreadable
2009, Nissan Urvan Estate, polar White, NOO-280,Manual	P1,020,000	8,595,kms /Diesel
2006, Suzuki Grand Vitara, White, ZGN – 644,Automatic	P574,000	34,465kms/Gas
2002, Toyota Rav 4 4×2, White FFE-931,Automatic	P396,000	112,902 kms / Diesel
2008,  Toyota Innova  J,  Wagon Blaze,  ZRR- 584 ,Manual	P551,700	9,975 kms / Gas
2007,  Mitsubishi L-200 Strada GLX –P.up , BlueLFX – 467,  Manual	P646,200	85,822 km/Diesel
2009, M. Adventure GLX – NCI-261, White,Manual	P557,100	19,810 kms  / Diesel
2007 Honda Civic 1.8V, Bluish Silver, ZLZ -979,Automatic	P536,400	23,652 kms / Gas
2007, Honda Civic 1.8S,  Sedan  Habanero Red,ZMA – 513, Automatic	P516,600	36,209 kms / Gas
2005, M. Outlander GLS 4X2, Red, XSX – 331,Automatic	P394,200	71,648 kms / Gas
2008, Mitsubishi GLX Fusion, Blue, ZRV-931,Automatic	P729,000	13,303kms/Gas
2001,  BMW 316i, White, ZAK-168, Manual	P640,000	19,350 kms/Gas
2008 Mitsubishi Outlander, Black, ZPG-115,Automatic	P1,025,000	21,611kms / Gas
2008,  Cherry QQ311, Hatchback, Yellow,ZMF-  959, Manual	P246,000	19,211kms/ Gas
2007,  Isuzu Dmax 2.5 Std. Double Cab Pick – up,Alphine White, ZKC-440, Automatic	P716,000	85,889kms/Diesel
2008 Mitsubishi Lancer GLX, Silver, ZSJ-608,Manual	P500,000	18,988kms / Gas
2008, Hyundai Tucson, Blue, ZRX-965, Manual	P665,000	57,147kms / Gas
2005, Toyota Hi-lux G, Pick up, Flaxen, YCH-789,4X4 Automatic	P713,000	69,478 kms/Diesel
2008, Dodge Caliber SXT, Black, ZRV-900,Automatic	P827,000	5,793 kms / Gas

DEADLINE FOR SUBMISSION OF OFFERS IS ON March24, 2010  4:00 PM.

Opening of sealed bids is on March 24, 2010, at 4:30 pm.

Units can be inspected at 1 Vitales Compound, Sucat Road Paranaque City ( beside PureGold Sucat ) from 8:30 to 5:00 p.m.   Monday to Saturday. For inquiries, please call Asset Management & Disposition Division at tel Nos.  8119963 / 811-9000

Disclaimer:

All units are on an “AS IS WHERE IS “basis.  Units and prices are subject to change without prior notice.  The Bank has the right to withdraw any vehicle before the auction.  Inadvertent misprints shall not alter the vehicle’s factual condition  nor shall be deemed as misrepresentation on the vehicle.

FINANCING AVAILABLE  (for qualified units) – For inquiries, please call Auto Loans Department at tel No. 811-9000 loc 9044

Source: UCPB website

Happy hunting

To our 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
Become a Fan in Facebook:Foreclosure Philippines fan page
Text by Jay Castillo. Copyright © 2010 All rights reserved.

PS. If you are an OFW who will be here in Manila, Philippines on March 28, 2010, reserve your seats NOW for the free Secrets of Wealth seminar for OFW’s by calling Joy: +63927-5707599, or Will: +63917-8580064/(632) 9645512. Remember, this is a free seminar so seats will definitely run out fast, and there are only 100 seats available. Act now and learn the secrets of wealth from Trace Trajano! Click here for more information about the free Secrets of Wealth seminar for OFW’s.

PPS. If you have a friend or loved one who is an OFW or who knows an OFW, please do them a favor and invite them to the free Secrets of Wealth seminar for OFW’s by Trace Trajano. The first 5 who refer at least 3 OFW’s that confirm and attend the seminar will get a free 1-hour consultation from me where you can ask me anything about investing in foreclosed properties (more about this in a later post). Just leave a comment below if you are interested or have any questions. Thanks!

Updated listing of bank repossessed cars for sale from UCPB is a post from: Foreclosure Investing Philippines

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As mentioned in my recent post about PNB’s Asset Gazette for January 2010, Property Forum Philippines will be conducting a series of “New Moon” auctions of foreclosed properties that coincide with the actual dates of the “New Moon”. This particular auction will be held on February 13, 2010, at Max’s Restaurant, Jupiter St., Makati City, Philippines. Registration starts at 8:00am and the auction proper starts at 9:00am.

Foreclosed properties can be acquired for as little as 10% Downpayment, with up to 10 years to pay and at low interest rates. However, the actual interest rates were not indicated on the print ad. This probably means that participating banks might have different interest rates available for their foreclosed properties included in the auction. Better call Property Forum Philippines to verify this as part of your due diligence.

Yes, you read that right, I believe that aside from PNB, there are other participants in this auction. Based on the prefixes of the property codes on the list, I can see that majority of the foreclosed properties are from PNB, while the rest are from TPF (The Property Forum?), UCPB (This is obviously United Coconut Planters Bank), CSB, GHP, UOB (United Overseas Bank?), CB (ChinaBank?), UNI, etc. Although the meanings of some of the acronyms are quite obvious, I can’t decipher the rest. Please do leave a comment below if you happen to know which banks or SPV’s these refer to. Thanks!

Locations of the foreclosed properties for sale

Mega Manila

• Antipolo
• Caloocan
• Las Pinas
• Makati
• Mandaluyong
• Manila
• Muntinlupa
• Paranaque
• Pasig
• Quezon City
• San Juan
• Tanay, Rizal
• Valenzuela

Luzon

• Baguio
• Bataan
• Batangas
• Bulacan
• Cagayan
• Cavite
• Isabela
• Laguna
• Nueva Ecija
• Quezon Province
• Pangasinan
• Rizal
• Tagaytay
• Tarlac City

Visayas

• Bacolod
• Bohol
• Capiz
• Cebu City
• Iloilo City
• Leyte
• Negros Occidental

Mindanao

• Agusan Del Norte
• Cagayan De Oro
• Davao Oriental
• General Santos
• Iligan
• South Cotabato
• Misamis Oriental
• Sultan Kudarat
• Zamboanga Del Sur/Norte

Click here to download the complete listing of foreclosed properties for sale in Property Forum’s New Moon public auction on February 13, 2010.

Source: Philippine Daily Inquirer, February 1, 2010 issue, page B4

Want to bid on a foreclosed property?

Before you bid, you should at least analyze the properties and do the numbers. If the numbers make sense, then the next logical step would be to inspect the properties as part of  due diligence. For property inspection, please call The Property Forum Philippines directly through the following telephone numbers: (02) 534-9536 / (02) 534-6954 / 0921-672288

To participate in the auction and bid on any of the foreclosed properties for sale, just bring the required show money which is Php25,000 per property in the form of cash or managers check.

The fine print

All properties are offered on an “As-is, Where-is” basis. Titles of properties are either under seller’s name or under various stages of title consolidation to seller’s name thus protective buyers are advised to conduct their due diligence prior to entering into any contract with the seller.

Property details, prices, and terms are subject to change without prior notice. The seller reserves the right to pull-out any property from the auction at any time. Changes in prices are subject to the sole discretion of the seller.

Looking for multi-door apartments?

If you are looking for multi-door apartments, then you better check this list of foreclosed properties as I saw a 7-door apartment with a minimum bid price of Php2.5M and an 8-door property with a minimum bid price of Php2.06M, both of which are in the Mega Manila area. I haven’t checked the details yet so I really can’t tell if they are good buys.

Happy hunting!

To our financial freedom!

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 © 2010 All rights reserved.

PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

PPS. If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe through my RSS Feed instead.

New Moon Auction of foreclosed properties on February 13, 2010 is a post from: Foreclosure Investing Philippines

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Did your car get flooded at the height of Typhoon Ondoy (International codename: Ketsana) or Typhoon Pepeng (International codename: Parma) and now you’re still waiting for advice when it can be brought in for repair? What if your car was already under repair but it turns out you will have to wait for several months for spare parts like a computer box for example to become available? Maybe it’s simply too expensive to have the flood damage to your car repaired because your car insurance doesn’t cover Acts of God or flood damage?

Cheer up! Just remember to count your blessings and I hope the following listings of bank repossessed cars for sale can be of help or at least give you an option just in case you really need to have a car soon and you are looking for cheap cars. Just make sure that these repo cars were not flood damaged as well.

I have compiled listings of bank repossessed cars for sale from Robinsonsbank, United Coconut Planters Bank (UCPB), and Unionbank. Just refer to the details on each respective listing of repossessed cars for sale in case you are interested.

Robinsonsbank repossessed vehicles

UCPB repossessed vehicles for sale

Unionbank repossessed cars

*Source: Manila Bulletin, October 18, 2009 issue, classified ads section

Goodluck and happy hunting!

—–

To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Social Network: http://foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor [at] gmail [dot] com

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

P.S. – If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

P.P.S – If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe instead to my RSS Feed.

Car got flooded? Why not consider looking at these bank repossessed cars for sale? is a post from: Foreclosure Investing Philippines

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Pardon me if I may have been bombarding you with a lot of listings of repossessed cars for sale from a number of banks lately. It just so happens that a bunch of them came out this week and the deadlines for the submission of bids are already next week so I really need to post them here quickly. I’m also quite sure that there are lots of people out there searching for bargain second hand used cars and I really hope that by posting these listings of repossessed cars here, I am able to help in my own little way.

Anyway, this is the last one I will post (for now) as this is the last one remaining. This list of repossessed vehicles is from United Coconut Planter’s Bank (UCPB).

I saw this listing in last Sunday’s copy of the Manila Bulletin and also at UCPB’s website when I was searching for updated listings of foreclosed properties. Last year, I wasn’t able to buy any of the bargain foreclosed properties (yes, there were a lot of them) from UCPB as described in my post about pre-auction bids – another lesson learned and I don’t want to miss the same opportunity this year. This is why I am keeping a close watch for any new listings of UCPB foreclosed properties. I have observed that they (UCPB) only conduct auctions of foreclosed properties once a year.

Before I digress too much, please see below the complete list of UCPB repossessed cars for sale. One item that caught my eye was a 2008 Toyota Vios 1.3E being sold for only Php 415, 800.

A similar 2008 Toyota Vios (not actual unit)

The cheapest 2008 Toyota Vios 1.3E with manual transmission that I was able to find at sulit.com.ph was being sold for Php490,000. So does that make this repossessed Vios a bargain? It depends on the physical and legal condition of the car. I also noticed that the mileage for this particular car was stated as “not seen” on the list below. What the heck does that mean?! Anyway, if you are interested, you may contact UCPB’s Asset Management & Disposition Division through the contact numbers below.

UCPB REPOSSESSED CARS FOR SALE

TYPE	Floor  Price	Mileage  / Fuel
2008 Cherry QQ311, Hatchback, Green, ZPA –870 Manual	P223,200.00	14,854 kms / Gas
2005       Hyundai Starex GRX, Van, Green, FFP-382 Manual	P604,800.00	66,684 kms / Diesel
2008 Toyota Vios 1.3E Sedan, Black, FGF -610 Manual	P415,800.00	Not seen / Gas
2006       Toyota Innova J, Wagon, Red, FGC -796 Manual	P540,000.00	45,203 kms / Diesel
2006 Hyundai Tucson Wagon, Blue, ZGB -300 Manual	P507,600.00	47,092 kms / Gas
2005 Isuzu Truck Ambulance, White, ZCD – 821 Manual,	P693,000.00	Diesel
2001 Nissan Patrol 4X4 Wagon, Gray / White, WSW – 822, Manual	P723,600.00	71,434 kms Diesel
2007       Honda Civic 1.8V, Sedan, Black, FGG -381, Automatic	P556,200.00	29,745 Gas
2008       M. Adventure GLS Sport, Wagon, Aspen While / Verona Silver, ZSG – 443, Manual	P641,700.00	8,595 kms Diesel
2009       M. Adventure GX Wagon, Monzar Silver , ZTY – 642 Manual	P568,800.00	7,472 kms Diesel
2008 Mitsubishi Outlander 4X4, Wagon, Gray, ZSR-953, Automatic	P1,280,000.00	3,778 kms / Gas
2004-Mitsubishi  Outlander GLS 4X4, Wagon, Silver,  XNM- 155, Automatic	P533,000.00	43,796 kms/Gas
2008 Chevrolet Captiva, Wagon, Silver, ZNY-  570,Automatic,	P877,000.00	24,576 kms / Diesel
2008 Mitsubishi Strada GLX, Pick – up, Blue, ZNJ- 172, Manual	P658,000.00	58,586 kms / Diesel
2008 Mazda 3.6S, Sedan, White, ZNT-201 Automatic	P580,000.00	24,640 kms /Gas
2007 Mitsubishi L-300 FB, White, ZLV-429, Manual	P425,000.00	53,728 kms / Diesel
2006 Mitsubishi L-300 FB, White, VDZ-223, Manual	P362,000.00	34,496 kms/ Diesel

DEADLINE FOR SUBMISSION OF OFFER IS ON September 23,2009 4:00 PM.

Opening of sealed bids is on September 23,2009 4:30 pm.

Units can be inspected at 1 Vitales Compound, Paranaque City  from 8:30 to 5:00 p.m.   Monday to Saturday. For inquiries, please call Asset Management & Disposition Division at tel Nos.  8119963 / 811-9000

Disclaimer:

All units are on an “AS IS WHERE IS “basis.  Units and prices are subject to change without prior notice.  The Bank has the right to withdraw any vehicle before the auction.  Inadvertent misprints shall not alter the vehicle’s factual condition  nor shall be deemed as misrepresentation on the vehicle.

FINANCING AVAILABLE – For inquiries, please call Auto Loans Department

at tel No. 811-9000 loc 9044

Source:http://www.ucpb.com/(click on Assets For Sale at the bottom of the left side bar)

Some of you may be wondering if I have already started buying/selling bank repossessed cars. Aside from the fact that I believe I still have lots of things to learn, I really can’t venture into other stuff at the moment as I still have a real estate deal to close. Wish me luck!

Happy hunting!

—

To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Social Network: http://foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor@gmail.com

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

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UCPB repossessed cars for sale is a post from: Foreclosure Investing Philippines

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After asking for a copy of the auction guidelines, I received instead a copy of the CONDITIONS OF SALE for the UCPB auction of foreclosed properties on November 29, 2008. I advice interested bidders to carefully read all the provisions in the CONDITIONS OF SALE which I pasted below prior to the auction date.

It would be better to read this now and raise any questions you may have prior to the auction right? Read on…

CONDITIONS OF SALE

A. PAYMENT TERM:

Clean properties (properties with possession and without lis pendens placed by UCPB or annulment of foreclosure cases): minimum 10% down, 11% pa, up to 10 years to pay (regular monthly amortizations start 1 month from date of downpayment, with interest starting from date of downpayment).

For chattel and club shares – payment term is CASH payable within 30 days from auction date.

B. MONIES PAID TO UCPB PRIOR TO THE EXECUTION/NOTARIZATION OF THE

CONTRACT TO SELL:

Within seven (7) days from the issuance of the Award Certificate, the Buyer shall be required to pay option money to UCPB as prescribed in provision #12 of “Notice to Bidders” below, through any UCPB branch, via a bills payment form addressed to “UCPB FAO AMDD”. The option money payable shall be equivalent to the required downpayment net of reservation fee on the property awarded. Once the Contract to Sell is executed/notarized, the option money shall be immediately applied by UCPB as a downpayment for the property.

In the event that UCPB cancels the Conditional Award Certificate under any of the circumstances prescribed in the Section entitled “Cancellation of Award”, all option monies paid including the reservation fees shall be refunded to the winning bidder without penalty or interest.

No official receipts shall be issued for payments of option monies. The official receipts shall only be issued (and current-dated) upon application of the option money as downpayment and execution/notarization of the CTS or DOAS. Buyers shall receive a validated deposit slip evidencing their option payment as received by UCPB.

C. DOWNPAYMENTS AND INSTALLMENT PAYMENT TERMS

Downpayments may only be accepted strictly in exact increments of 10% (i.e. 10%, 20%, 30%, 40%…).

For Buyers who have paid 10% down (as option money) and who wish to put up additional downpayment, UCPB will only accept the additional downpayment up to a cut-off date of 1 month from auction day.

All Buyers are required to finalize their desired term of payment (e.g. cash, number of years) on or within the cut-off date of 1 month from auction day.

D. CANCELLATION OF AWARD AND REFUND OF RESERVATION FEE/OPTION MONEY:

All award certificates are conditional and UCPB may cancel the reservation and the certificate under any of the following circumstances:

a) if the winning bidder does not submit a complete set of the required documents for itself or of its assignee to UCPB within 30 days from issuance of the Conditional Award Certificate;
b) If the winning bidder is unable to comply with any of the requirements or deadlines stated in these “Conditions of Sale” or “Notice to Purchasers”
c) UCPB, based on advise by its Legal or Operations Department determines that the property is rendered unfit for sale;
d) in the event that any discrepancies or errors on the prices, terms, details and status of the properties are discovered.

If a sale is cancelled due to (a) and (b) above, UCPB shall forfeit the reservation fee in its favor. Option money payments over and above the reservation fee shall be returned without interest or cost of money.

If a sale is cancelled to due (c) and (d) above, UCPB shall refund the reservation fee and all option money paid without any interest or cost of money.

All refunds are in the form of manager’s checks payable to the winning bidder. All refunds shall be made available for pick-up at the Head Office of UCPB on or within 7 days from cancellation date.

Should UCPB determine that a quitclaim document needs to be executed, the Buyer shall execute the quitclaim document on or before receipt of the refund payment.

E. FORFEITURE:

If the Buyer fails to comply with any of the rules and regulations or payment deadlines specified herein, or refuses to continue with the sale despite UCPB having fulfilled its obligations under any of the abovementioned warranties, UCPB may automatically rescind the awarding of the sale and the reservation fee shall be forfeited in favor of the Bank.

F. PREPAYMENT CONDITIONS:

Prepayments are allowed, provided, that if the prepayment is made within the first calendar year (i.e. the year in which the CTS was executed/notarized), the Buyer shall pay UCPB a surcharge of 3% of the purchase price. This surcharge is non-negotiable.

All prepayments shall be subject to whatever additional guidelines that may be imposed by UCPB from time to time.

G. VALID IDENTIFICATION:

Any of the following is considered a valid ID:
• Current Driver’s License
• Current Passport (1st 2 pages & last page)
• Company ID, SSS ID, Postal ID
• Voters ID
(ALL OF THE ABOVE ID’S MUST HAVE A CLEAR SIGNATURE OF THE BIDDER)

G. LIMITATION AS TO ASSISTANCE FROM UCPB FOR PROPERTY DEFICIENCIES:

Buyers are duly advised that, once the Conditional Award Certificate is issued, no financial assistance shall be extended to Buyers with respect to relocation surveys or any studies, surveys, negotiations, or whatever other activities may be required to correct title deficiencies, occupancy status or any other deficiency that may be identified by the Buyer post-award.
UCPB may, at the request of the Buyer, render non-financial assistance to Buyers. Such assistance shall be limited only to issuances of Notices to Vacate, accompanying Buyers to conduct relocation surveys, witnessing of taking of possession or discussions with government officials (if the Bank so determines that its presence is required) and provided, further, that adequate notice has been given directly to UCPB’s AMDD Operations personnel.

H. STANDARD CONTRACT TO SELL PROVISIONS:

1. SUBJECT MATTER – The subject matter of this CONTRACT TO SELL consists of all the rights, title and interests of the VENDOR together with all the improvements existing in and to the above described (the “PROPERTY”), particularly described in the copy of title hereto attached as “Annex __” and made an integral part thereof.

2. PURCHASE PRICE – The purchase price shall be paid to the VENDOR in the manner set forth below:

a. Down-payment payable on or before execution of this CONTRACT TO SELL.
b. The remaining balance shall be paid based on the amortization schedule attached hereto as “Annex __”. 48 Post Dated Checks (PDCs) shall be delivered simultaneously with the execution of the CONTRACT TO SELL. This procedure shall continue until full payment of purchase price. Failure of the VENDEE to pay the downpayment or any installment on due date shall grant the VENDOR the right to demand full payment of the entire amount remaining unpaid together with any and all penalties accrued thereon, or to cancel and rescind this CONTRACT pursuant to No. 6.

c. Prepayments of the remaining

balance of the Purchase Price shall be accepted, provided, that if the prepayment is made within the same calendar year in which this CONTRACT TO SELL is executed, a non-negotiable surcharge equivalent to 3% of the purchase price shall be imposed upon the VENDEE.

All amendments to the Amortization Schedule shall, once finalized, be automatically considered part & parcel of this CONTRACT TO SELL.

3. OBLIGATIONS OF THE PARTIES -

3.1 Upon receipt by the VENDOR of at least 20% downpayment, the VENDOR shall deliver possession of the said PROPERTY to the VENDEE in his capacity as installment buyer only and for the period and under the terms and conditions provided herein.

3.2 Notwithstanding that the title to the PROPERTY has not been transferred to the VENDEE, the VENDEE shall, in place of the VENDOR, observe all conditions and restrictions on the PROPERTY and shall henceforth be liable for all risk of loss or damage to the PROPERTY.

3.3 Real estate taxes and all levies, imposts and other governmental charges due on the PROPERTY shall be solely for the VENDEE’s account after the execution of theis CONTRACT TO SELL. For and on behalf of the VENDEE, the VENDOR shall pay these taxes, imposts and charges on the due date and shall bill the VENDEE all amounts paid. The VENDEE shall reimburse the VENDOR all amounts billed on or before the due date prescribed in the billing statement. Failure to reimburse the VENDOR by the due date shall grant the VENDOR the right to charge penalties prescribed under Section 3.6, computed from the due date until fully reimbursed by the VENDEE, or, to declare the VENDEE in default pursuant to No. 6.

3.4 VENDEE shall pay all association dues and utilities (water, electricity and telephone charges) as and when they fall due, including any penalties and surcharges due on the PROPERTY after the execution of this CONTRACT TO SELL and every year thereafter. Should the VENDEE fail to pay any amounts due under this Section 3.4, the VENDOR may, at its sole option but without any obligation on its part, bill the VENDEE and pay these amounts due for and in behalf of the VENDEE, with right of reimbursement from the VENDEE, with penalties prescribed under Section 3.6, computed from the time payments were made by the VENDOR until fully reimbursed by the VENDEE, or, to declare the VENDEE in default pursuant to No. 6.

3.5 VENDEE shall keep fire and lightning insurance on any improvements on the PROPERTY existing as of the date of execution of this CONTRACT TO SELL, and shall pay the insurance premiums due starting from the date of execution of the CONTRACT TO SELL and every year thereafter. The VENDEE shall submit to the VENDOR a copy of the insurance policy for such improvements, duly endorsed to the VENDOR or its beneficiary. Failure by the VENDEE to submit a copy of the endorsed insurance policy on or before the expiry date of the insurance policy for the previous year while this CONTRACT TO SELL remains outstanding shall constitute an event of default pursuant to No. 6.

3.6 The VENDEE shall make all payments and submit all checks due under this CONTRACT TO SELL to the VENDOR, whether billed by the VENDOR (in the case of Section 3.3 and 3.4) or without necessity of demand or notice (in all other cases), and failure by the VENDEE to do so shall entitle the VENDOR to charge penalty at the rate of 3% per month based on the amounts due. Likewise, in the event that the VENDOR agrees to extend the due date, the VENDOR shall also be entitled to charge penalty at the same rate of 3% per month.

3.7 VENDEE shall comply with all laws, rules and regulations required by government and shall, if required, obtain the necessary permit(s) and/or approval(s) for this CONTRACT TO SELL.

3.8 VENDEE shall maintain the PROPERTY with the diligence of a good father of a family. The cost and expense for any and all renovation, repairs, alterations and improvements made on the PROPERTY shall be paid by and for the account of the VENDEE.

3.9 VENDEE shall not without the prior written consent of the VENDOR, sell, assign, transfer, cede or donate, his rights, interests and obligations over this CONTRACT TO SELL to any party. In case the VENDOR approves the transfer, the VENDEE shall pay the VENDOR a transfer fee in the amount of P25,000.00 or such other amount as the VENDOR may otherwise fix. Furthermore, any violation of this provision shall constitute grounds for termination/rescission of this CONTRACT TO SELL by the VENDOR in accordance with No. 6.

3.10 VENDEE is hereby obligated and agreed to execute any and all documents that may be required by the VENDOR to implement this CONTRACT TO SELL.

4. DEED OF ABSOLUTE SALE –

4.1 Upon receipt of full payment of the total purchase price in accordance with the terms and conditions hereof, and all other amounts due including interests, penalties and other charges such as, but not limited to, telephone, cable, electric and water connections and deposits which may have accrued or which may have been advanced by the VENDOR, including all other obligations of the VENDEE under this CONTRACT TO SELL such as insurance premiums, cost of repairs, real estate taxes or insurance premiums advanced by the VENDOR, the VENDOR shall execute in favor of the VENDEE a Deed of Absolute Sale over the PROPERTY.

4.2 Any and all taxes such as, but not limited to, the transfer tax and documentary stamp tax; all charges, fees and/or expenses of whatever kind and nature including, but not limited to, documentation, notarization and registration expenses relative to the execution and/or implementation of this CONTRACT TO SELL and for the transfer of title to the PROPERTY to the VENDEE, shall be for the exclusive account of the VENDEE; provided, however, that creditable withholding taxes for capital gains shall be for the account of the VENDOR. The VENDEE shall also be liable for, and shall indemnify and hold the VENDOR free and harmless from, any interest, penalty or surcharge arising from the VENDEE’s late or non-payment of any taxes, charges, fees and expenses due on the sale of the PROPERTY.

4.3 In the event that the Deed of Absolute Sale is executed prior to the VENDEEs settlement of association dues, electric and water deposits and other advances and fees as may be imposed or incurred on the PROPERTY, the VENDOR shall not deliver title until such time as all of the
VENDEE’s payables are settled in full.

5. REPRESENTATION AND WARRANTIES -

5.1 The VENDEE hereby recognizes and confirms that the VENDOR has acquired full title to and ownership over the PROPERTY and has the right to enjoy all proprietary rights inherent therein, including, but not limited to, the use and possession of the PROPERTY.

5.2 VENDEE hereby warrants that the VENDEE has seen and inspected the PROPERTY and all muniments of title thereto; the VENDEE is aware that the VENDOR has acquired the PROPERTY by way of dacion en pago/foreclosure; VENDEE is aware of any and all incidents, transactions and proceedings affecting or involving the rights and the PROPERTY; and VENDE

E hereby agrees that the sale of the rights shall be made on the basis of the condition of the PROPERTY at the time of the sale, on an “AS IS, WHERE IS” basis.

6. TERMINATION / RESCISSION -

6.1 In case of VENDEE’s failure to comply with any of his obligations under this CONTRACT TO SELL, including but not limited to non-payment of any installments due, non-payment of any obligation regarding telephone, cable, electric and water connections and deposits, as well as assessments, association dues and similar fees, abandonment of the PROPERTY or violation of any of the terms and conditions of this CONTRACT TO SELL for whatever reason, the VENDOR shall be entitled to the following in accordance with Republic Act 6552: Maceda Law:

a. To automatically terminate and rescind this CONTRACT TO SELL without need of notice or demand, rendering the VENDEE’s rights herein null and void;

b. If VENDEE is in possession, to demand from VENDEE to peacefully vacate and surrender the PROPERTY within 30 days from the date of the written demand from the VENDOR. Upon expiration of the 30 – day period, the VENDEE hereby authorizes the VENDOR to enter and forcibly open, if necessary, and take possession of the PROPERTY without need of prior demand, notice or court order; and,

c. Automatic forfeiture in favor of the VENDOR of all improvements which are permanent in nature introduced by the VENDEE on the PROPERTY without reimbursement or payment to the VENDEE.

6.2 The VENDEE hereby agrees that as penalty for such failure of the VENDEE to pay any amounts in accordance with terms and conditions hereof, the VENDEE shall also forfeit one – hundred percent (100%) of the total amounts paid in favor of the VENDOR and that the VENDOR may sell the PROPERTY to any other interested party at its exclusive option.

6.3 In case of termination/rescission, the VENDOR shall be at liberty to dispose of and sell the PROPERTY to any other person as if this CONTRACT TO SELL had never been executed or entered into.

7. MISCELLANEOUS CONDITIONS -

7.1 Failure on the part of the VENDOR to insist at any instance upon the performance by the VENDEE of any of the terms and conditions of this CONTRACT TO SELL or exercise of any rights or privileges herein contained shall not be construed as a waiver of any such conditions, rights or privileges and the same shall continue and remain in full force and effect.

7.2 VENDEE shall hold the VENDOR, including its officers and employees, free and harmless from all actions, suits, damages, liabilities or claims of whatever kind and nature which may be brought or instituted by reason of this CONTRACT TO SELL, including performance thereof, the non-observance or non-performance by the VENDEE of performance obligation under any rule, regulation, ordinance or law, or of any covenant or representation contained herein. The VENDEE unconditionally assumes all liability for any injury or death to its personnel, guests and invitees, as well as for any loss or damage to their property, which occurs or is sustained within or by reason of the VENDEE’s use and possession of the PROPERTY, or to any third persons or their property while casually remaining within or surrounding the premises of the PROPERTY regardless of whether or not such is with the consent or tolerance of the VENDEE.

7.3 Only official receipts signed by the VENDOR or its cashiers shall be recognized as valid and binding.

7.4 If there are two or more VENDEEs under this CONTRACT TO SELL, they shall be deemed solidarily liable for the obligations of the VENDEE hereunder.

7.5 The VENDOR shall have the right to determine the application of payments made by the VENDEE. Unless otherwise amended by the VENDOR, payments shall be applied in the following order: (i) to costs and expenses incurred or advanced by the VENDOR pursuant to the CONTRACT, including but not limited to the advances for taxes, dues, insurance premiums, etc., (ii) to penalties, (iii) to interests on the scheduled balance of the purchase price, and (iv) to the remaining principal balance of the purchase price.

7.6 The VENDEE shall be deemed to have taken possession of the PROPERTY in any of the following analogous instances: (1) on the date specified in the VENDOR’s notice of turnover and upon the VENDEEs actual or constructive receipt thereof irrespective of his/her non-occupancy of the PROPERTY for any reason whatsoever, (2) when the VENDEE actually occupies the PROPERTY, (3) when the VENDEE commences to introduce improvements, alterations, furnishings, etc. on the PROPERTY, or (4) when the VENDEE receives the keys to the PROPERTY.

7.7 The VENDEE shall notify the VENDOR in writing of any change in his address. Should the VENDEE fail to do so, his address stated in the CONTRACT TO SELL shall remain his address for all purposes including, but not limited to, the transmittal or service of
all notices, billings, court summons or messages related to this CONTRACT TO SELL and/or required by law.

7.8 If any condition of this CONTRACT TO SELL shall be held invalid and contrary to law, the validity of the other conditions shall not be affected thereby.

7.9 This CONTRACT TO SELL is binding upon the heirs, assigns and successors-in-interest of the parties. The VENDOR duly authorizes the representative signing for and in behalf of the VENDOR.

7.10 In the event of litigation that may arise by reason of this CONTRACT TO SELL or in connection therewith, the parties hereto have agreed that the venue shall be in the proper courts of Makati City. In addition, the prevailing party shall be entitled to reasonable attorney’s fees of not lower than 10% of the Purchase Price.

I. NAME OF BUYER OR BUYER/S APPEARING ON THE CONTRACT TO SELL (CTS) / DEED OF ABSOLUTE SALE (DOAS):

Winning bidders shall be given a period of 15 days from issuance of the Conditional Award Certificate to decide on the actual name of the Buyer or Buyer/s to be included in the CTS / DOAS.

The actual Buyer or Buyer/s whose name will appear on the CTS/DOAS must accomplish the Customer Information Sheet and comply with all of the requirements prescribed in the Reservation Agreement within the 30 day deadline prescribed in Section D above.
No changes to the Buyer’s name shall be entertained beyond the 15th day from issuance of the Award Certificate.

J. CHANGE IN PROPERTY:

If a winning bidder wishes to change the property previously awarded to him, or if UCPB has advised the bidder that he/she is revoking the Conditional Award Certificate and the bidder has selected another property as a replacement, UCPB shall process the sale of the new property.
The procedure to be followed is as follows:

1. The original Conditional Award Certificate shall be revoked via notice of termination.
2. A new Conditional Award Certificate shall be issued to the winning bidder, and the winning bidder shall sign his conformity on the new Award Certificate.
3. The winning bidder shall be given 7 days from issuance of the new Certificate to pay the option money described i

n Section B above, which shall be applied by UCPB as downpayment upon execution/notarization of the CTS/DOAS.
4. The winning bidder shall be given 15 days from issuance of the new Certificate to advise UCPB on the actual name of the Buyer or Buyers to be included in the CTS/DOAS.
5. The winning bidder shall be given 30 days from issuance of the new Certificate to comply with all of the requirements enumerated in the Reservation Agreement.

Please note that:
1. Buyers may select a substitute only from the list of assets available for auction.
2. The minimum purchase price of the property is the floor price.
3. Buyers must decide on the substitute property on or before a cut-off date of 15 days from auction day (may be extended by UCPB if reason for substitution is attributable to UCPB).

K. MARITAL CONFORMITY:

For Buyers who indicate their status as “married” in the Customer Information Sheet, or whose status changes before the execution of their CTS, their spouses shall be required to sign their marital conformity on the CTS/DOAS. Buyers must also file change of status with the Bank by filling in a new Customer Information Sheet.

For Buyers or their spouses who are residing outside the Philippines, please refer to Section P and Q below.

UCPB will not process the sale transaction and will cancel the Conditional Award Certificate if marital conformity cannot be obtained within 60 days from issuance of the Certificate.

L. LEGALLY SEPARATED BUYERS:
Buyers who indicate their status as legally separated shall be required to submit proof of their separated status within 30 days from issuance of the Conditional Award Certificate.

M. SPECIAL POWER OF ATTORNEY:

Buyers who appoint representatives to sign their CTS/DOAS are required to submit a Special Power of Attorney (enclosed an Annex A) authorizing the representative to purchase the property and to sign on their behalf.

The Special Power of Attorney must be submitted within 30 days from the issuance of the Conditional Award Certificate.

UCPB will not process the sale transaction and will cancel the Conditional Award Certificate if the Special Power of Attorney cannot be obtained by the abovementioned deadline.
A General Power of Attorney shall not be accepted by UCPB under any circumstances.

N. CONSULARIZATION:

All Buyers and their spouses residing outside the Philippines are required to consularize the CTS/DOAS. Consularized CTS/DOAS must be submitted within 90 days from the date of payment of the option money.

All Buyers who will be residing outside the Philippines, and who appoint representatives to sign their CTS/DOAS, are required to submit a consularized Special Power of Attorney authorizing such representative to purchase the property and to sign on their behalf. The consularized Special Power of Attorney must be submitted within 30 days from the issuance of the Conditional Award Certificate.

UCPB will not process the sale transaction and will cancel the Conditional Award Certificate if the Special Power of Attorney cannot be obtained by the abovementioned deadline.

O. TAX IDENTIFICATION NUMBER:

Since the TIN number of Buyers, their spouses, or their representatives is a requirement for payment of Creditable Withholding Tax, all Buyers, their spouses, and their representatives who purchase properties from UCPB are required to comply with the TIN requirement prescribed in the Reservation Agreement.

UCPB will not process the sale transaction and will cancel the Conditional Award Certificate if the TIN number/s of the Buyer/s and their spouse/s and their representative/s is not provided to UCPB within the deadline prescribed in the Reservation Agreement.

P. DOUBLE NOTARIZATION:

If the Buyer/s and their spouse/s are unable to execute the CTS/DOAS at UCPB Head Office, the CTS/DOAS shall be signed and notarized by the Buyer/s & their spouse/s first, then the CTS/DOAS shall be transmitted to UCPB Head Office for signing and notarization by UCPB representatives.

In order to meet the deadline for payment of Creditable Withholding Tax, all CTS/DOAS requiring double notarization are required to be transmitted to UCPB Head Office at least 7 days before the end of the month in which the CTS/DOAS was executed by the Buyer/s and spouse/s.

Q. UCPB’S EXECUTION OF CTS AND DELIVERY TO THE BUYER:

UCPB shall undertake to sign and notarize the documents within 7 days from receipt of the documents and shall process payment of CWT immediately.
Provided that the Buyer has complied with all the requirements for the sale and has paid the required downpayment, UCPB undertakes to deliver the fully notarized CTS/DOAS to the Buyer before the end of the following month from CTS notarization date.
Please note that the Buyer shall be liable to pay all penalties and surcharges on Creditable Withholding Taxes arising from the delivery of the CTS/DOAS to UCPB beyond the abovementioned cut-off date.

R. REQUIREMENTS UNDER THE RESERVATION AGREEMENT AND POST-DATED CHECKS:

Prospective bidders are duly advised to prepare in advance all the requirements prescribed under the Reservation Agreement and to have at least 48 checks to cover the post-dated check requirement of UCPB.
UCPB shall not process the CTS/DOAS unless all of the above requirements are submitted and duly received by UCPB.

S. DEADLINES AND CUT-OFF DATES:

If the last day of a deadline for submission or payment by a Buyer falls on a non-working day, then the last day shall be the first working day immediately following the non-working day.

T. BUYBACK TRANSACTIONS

The auction prices, terms of payment, and warranties/options set forth in A-b, A-c and A-d of this Conditions of Sale are not applicable to former mortgagors / borrowers who repurchase their properties. In this regard, former mortgagors / borrowers are advised to contact UCPB AMDD Sales Team directly for the appropriate guidelines and procedures on property buybacks.
If in the course of its investigation, UCPB determines that any sale transaction is a buyback, UCPB has the right to amend the auction prices, terms of payment and warranty provisions at anytime and impose appropriate buyback guidelines.

You may also download a copy of the CONDITIONS OF SALE here.

Conditions Of Sale for UCPB Auction on Nov 29, 2008 is a post from: Foreclosure Investing Philippines

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UCPB’s most awaited public auction will be held on November 29, 2008 at 11th Floor, UCPB Bldg., 7907 Makati Avenue, Makati City, Philippines.

10% Downpayment

11% Interest

10 Years to pay

Click here to download the UCPB Listing of foreclosed properties for public auction.

Show Money is Php25,000.00 per property

Happy Hunting!

UCPB Public Auction on November 29, 2008 is a post from: Foreclosure Investing Philippines

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