I’m sure a lot of you out there have been patiently waiting for new listings of foreclosed properties and here is a bunch from Philippine National Bank (PNB). My wife got these foreclosed property listings after she requested for them through e-mail.
Don’t forget to use as reference the “title id number” of the property that you wish to inquire. Furthermore, the people from PNB requests interested parties to prioritize a maximum of 5 properties per inquiry.
Before anything else, here are the guidelines in acquiring foreclosed properties from PNB:
Step 1: Choose a property.
You can get the list and details of PNB properties for sale through any of the following:
- PNB SAMS Customer Service Desk / Inquiry Desk
- SAMS Customer Service Hotline: 5734115
- PNB Line: 8916040 to 70 locals 4115, 4713, 2584
- E-mail address: firstname.lastname@example.org
- Nearest PNB Branch
- PNB SAMS Website at www.pnb.com.ph. Under the Assets Tab, click the Asset Management tab
- Asset Management Sector Portal at www.pnbassets.pnb.com.ph/Portal/do/web
Note: All properties are sold on an “As is, Where Is” basis. Listing of properties is subject to change without prior notice.
Step 2: Meet with a designated Account Officer to schedule your visit to the property you are interested to buy.
- You may call the SAMS Customer Service Hotline to connect you to the appropriate account officer.
Step 3: Request for a Purchase Proposal Form (PP Form) from the PNB SAMS Customer Service/Inquiry Desk.
Step 4: Make Purchase Offer and select payment terms.
- Attach to PP Form a deposit equivalent to 10% of your offer price.
- Attach Supporting documents
- Submit PP Form and deposit to PNB SAMS Customer Service/Inquiry Desk.
- Available Payment Terms:
- 10% Deposit upon submission of PP Form.
- 90% Balance within 30 days from receipt of Notice of Approval.
- 10% downpayment upon submission of PP Form.
- Additional 15% upon receipt of Notice of Approval for lots with improvements.
- 75% Balance payable up to 10 years monthly amortization.
- 10% Fixed Annual Interest Rate for up to 5 years.
- 12% Fixed Annual Interest Rate for up to 10 years.
Fixed Annual Interest Rates effective March 1, 2007.
Indicative Rates are subject to change without prior notice.
- Supporting Documents
- For Individual Buyers
- Income Tax Return (ITR)
- Certificate of Employment
- For Corporate Buyers
- Audited Financial Statements
- Article of Incorporation
- Company Profile
- SEC Registration
- Board Resolution of Signatory/ies
- For Individual Buyers
NOTE: Buyers availing term financing may be subjected to the usual Bank Credit Investigation.
Step 5: Relax and Wait for Notification.
An Account Officer will attend the expeditious processing of your papers. You will be notified within 2 weeks regarding the status of your offer.
Note: “As is, Where Is” Basis.
Please verify the availability of the property/ies before proceeding with your Purchase Proposal. PNB cannot assure that the list attached may have items that have been sold recently.
Download PNB Foreclosed Property Listings here:
- Prices are subject to change without prior notice.
- All sales are on an ” AS IS, WHERE IS” basis.
- The bank does not make any representation to the physical / legal condition of the property.
- It is the buyer’s responsibility to verify status of property and obtain additional information.
For more information, please feel free to call:
PNB Special Assets Management Sector
9th Floor PNB Financial Center, Pres. Diosdado Macapagal Blvd., Pasay City 1300
891-6040 to 70/ 526-3131 LOCALS 4115 / 4713/2584
My vision – financial freedom for all!
Real Estate Investor
Real Estate Broker License #: 20056
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Mobile phone (Call/SMS): +639178843882
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Text by Jay Castillo. Copyright © 2009 All rights reserved.
PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.
PS2. Larry Gamboa and Bo Sanchez will give the Think Rich Pinoy Seminar this November 21 at the Philamlife Building in UN avenue in Manila. Larry will discuss his unique Real Estate methods, buying foreclosed properties and turning them around for passive income. You’ll also get to play Robert Kiyosaki’s CashFlow 101 Game and learn! To attend, click here now!
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