The 189th Special Public Auction of UnionBank foreclosed properties will be on August 25, 2012, at the 29th Floor UnionBank Plaza, Meralco Avenue corner Onyx Road, Ortigas Center, Pasig City, Philippines. Auction proper starts at 9:00am. Interested bidders are reminded to come early for registration prior to the auction proper. Keep in mind that UnionBank auctions start promptly.
This auction includes foreclosed properties from the Metro Manila and Luzon areas.
Interested bidders only need to bring PHP 20,000 show money in the form of cash or manager’s checks to qualify to bid per property. As usual, foreclosed properties are for sale on an “as is where is” basis.
Bidding terms
| Downpayment: | ONLY 10% DP (6 months to pay, zero-interest) |
| Interest: | Only 11% per annum (fixed for 15 years) |
| Term: | 15 years (maximum) thru in-house guaranteed financing |
Still NO CREDIT CHECKING for residential properties!
Commercial and agricultural properties are subject to credit approval.
Download the foreclosed properties listing
You may now download the complete list of UnionBank foreclosed properties included in the public auction on August 25, 2012, in PDF format (requires adobe acrobat reader). Just click on the image below…
or click on the following link: 189th UnionBank Foreclosed properties auction on August 25 2012 – PDF
Who to contact
To learn more about the foreclosed properties for sale, please contact:
| Mobile Nos. 0920-96 ASSET (27738) / 0917-81 ASSET (27738) | |
| LANCE | 637-1445 or 667-6388 local 8362 |
| ERIQ | 638-1445 or 667-6388 local 8373 |
| DORIS | 638-0125 or 667-6388 local 8358 |
| RAP | 667-6388 local 8364 |
| RONALD | 637-1445 or 667-6388 local 8372 |
| GEL | 667-6388 local 8374 |
| JENNY | 637-1441 / 667-6388 local 8376 |
| LUI | 637-1441 / 667-6388 local 8371 |
The “fine print”
- Commercial properties are subject to credit approval
- CWT is for the account of the buyer
- The sale is on an “as is where is” basis
- Misprints are not misrepresentation of any property
- UnionBank may, at anytime, withdraw any of the properties listed above
Happy hunting!
~~~
To our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2012 All rights reserved.
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How come the minimum bid prices dont sound like a good deal. its practically market value. Is the minimum bid price actually upheld? Or do people bid below that?
Thanks
Hi Jay, as I have mentioned in the past, selling prices of foreclosed properties are not always always at below market value. While there cheap ones, there are those that are being sold at full market value and the key is finding which is which.
For public auctions, bidding starts at the minimum bid price and can only go higher, not lower.
After the auction however, unsold properties are available for negotiated sale and people can submit offers below the indicative price but are still subject to management’s approval.
Thanks, got it. This was the first page I read on your blog – only read the other pages after this one, where I found more information…
Hoping to buy some sort of property soon!
Hi sir. I’m a graduating college student who wants to engage in wholesaling properties. Can I attend the auction as an observer? I’ve never been to any real estate auctions before and if ever, this will be my first time to attend one. I believe this would be a great experience for me..
Hi AK, yes you may attend as an observer but I highly suggest you register and confirm in advance to ensure seat availability. I remember the excitement when I first attended a public auction of bank foreclosed properties and I’m quite sure you will experience the same. I would also suggest you come early so you can catch the explanation of bidding rules and guidelines.