I just got this listing of Union Bank foreclosed properties which are scheduled for public auction on July 24, 2010, Saturday, 9:00AM, at the Delas Alas Room, 2nd floor, Philippine Columbian Sports Club, Plaza Dilao, Paco, Manila, Philippines.
Foreclosed properties for bidding consist of residential lots, house and lots, townhouses, condominium units, residential buildings, commercial lots, industrial lots, agricultural lots, commercial space, and industrial / commercial warehouses. Credit terms, are as follows:
|Interest:||13% p.a. fixed for the first 3 years and
15% p.a. fixed for the next 12 years
|Term:||15 yrs. (maximum) thru in-house guaranteed financing|
Listing of foreclosed properties
Click here to download a copy of the list of foreclosed properties included in UnionBank’s 156th public auction in PDF format. A copy in JPG format will be available shortly.
How to join this auction of foreclosed properties form UnionBank
1. Download the listing of foreclosed properties above and then analyze the properties and create a short-list.
2. Call UnionBank directly to get more details about the foreclosed property that has made it to your shortlist and also to schedule a property inspection if warranted. Their telephone numbers can be found on the listing above.
3. Do your due diligence by checking the legal condition of the property through its Transfer of Certificate of Title(TCT) or Condominium Certificate of Title (CCT), Tax declaration, etc. It is also advisable to check for any arrears for Homeowner Association dues/Condo dues, Utilities like water and electricity, real property taxes, etc. Please refer to these set of questionswhich can also help with your due diligence.
4. Attend the auction to bid if and only if the property passed your due diligence. Just bring PhP 20,000 show money (cash or manager’s check) to qualify to bid for each property.
The fine print
UnionBank is a partnership among the Aboitiz Group, Insular Life and Social Security System. It started operations in 1981 and became a commercial bank by January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank. The bank acquired the International Corporate Bank (Interbank) in 1994. Click here to learn more.
Reminders – Please read!
For inquiries specific to any of the foreclosed properties on the list, please contact UnionBank directly through the contact numbers which can be seen on the list which can be downloaded above. I am not accredited with UnionBank so I really can’t answer questions about any of the properties 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.
To our success and financial freedom!
Real Estate Investor
Real Estate Broker License #: 20056
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Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.
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