As mentioned in my post about Philmay foreclosed properties from the Metro Manila and Luzon areas, here is the second part which contains Visayas and Mindanao foreclosed properties. Actually, a number of foreclosed properties from the Luzon area are also included in the following listings. These are also updated as of February 28, 2011.
I would like to reiterate that these foreclosed properties are for negotiated sale, and are not for public auction. You just have to submit your offers on a first come, best offer basis.
Yes, you may submit an offer which is less than the indicated selling price, subject to final approval of management.
Payment terms: 10% to 20% downpayment, with the balance payable up to 15 years, subject to final approval of the management of PPI. It goes without saying that cash offers are also accepted.
Download the foreclosed property listings
The following are foreclosed properties from Philmay and Maybank in PDF format:
For your convenience, you may also download a copy of the above listings in excel format: PHILMAY SUMMARY PRICELISTS OF VISAYAS-MINDANAO PROPERTIES FOR SALE AS OF FEBRUARY 28, 2011.XLS
- Prices are negotiable
- Prices are subject to change without prior notice
- Philmay reserves the right to amend the terms, conditions, and withdraw/replace anyand all properties anytime for whatever reason Management may deem appropriate
- All sales shall be on an “as-is, where-is” basis, no waranties and “no recourse” basis. Status and condition of the properties are not comprehensive or complete: Buyers are therefore advised to conduct their own due dilligence prior to submission of an offer to buy
- Submission of offer to buy is on a first come, best offer basis. PPI reserves the right to conduct private bidding in the event of multiple offers received on the same property subject to the bidding policy of PPI
- Mere submission of an offer does not construe a right of “first option” by the offeror
- The creditable withholding tax up to the agreed purchase price shall be for the acocunt of PPI. Any fractional cost or excess shall be for the buyer’s account
- Prices are not applicable to buyback of the former owners or relatives up to 1st degree of consanguinity. Please confirm with PPI any buyback price
- All sales transactions are subject to the final approval of the Management of PPI
- Brokers or agents are not allowed to accept any payment from prospective buyers
- Taxes and required fees due from buyer must be settled on time during documentation to avoid penalties
Foreclosed property details
For property details, just leave a comment below.
Happy real estate investing!
Real Estate Investor
Real Estate Broker License #: 20056
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Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.
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