We welcome 2013 with the first auction of Unionbank foreclosed properties for Luzon and Metro Manila, which will be held on January 26, 2013, Saturday, 9:00am, at the 29th Floor, UnionBank Plaza, Meralco Ave. cor. Onyx Road, Ortigas Center, Pasig City, Philippines.
Actually, there will be a second auction which will immediately follow the Luzon and Metro Manila foreclosed properties, and this is for the brand new AMALFI units located in Dasmarinas Cavite.
Interested bidders only need to bring Php20,000 show money in the form of cash or manager’s checks (MC) per property. The auction proper starts at exactly 9:00am, so bidders are reminded to come early to register!
New items
This listing of foreclosed properties from UnionBank has a number of new and interesting items, which includes two condo units at Raya Gardens Paranaque (developed by DMCI, very familiar for me because I am marketing a unit here).
The condo units have a total floor area of 120 sqm, and have a total selling price of Php4,850.000.00, which is about Php40,416.67/sqm. Please take note however that the CCT of the units are still undergoing consolidation, but they are unoccupied.
Auction terms
UnionBank still offers probably the most affordable *credit terms as follows:
| Downpayment: | 10% (minimum) 6 months to pay at zero-interest |
| Interest: | 11% per annum (fixed for 15 years) |
| Term: | 15 years (maximum) thru in-house guaranteed financing |
*Still no credit checking for residential properties!
Cash purchases will get a 5% discount (terms and conditions apply)!
Download the UnionBank foreclosed properties listing
You may download the complete list of foreclosed properties included in UnionBank’s 195th special public auction on December 15, 2012, just click on the image below…
or click on the following link:
Source: Lance Yadao and Ronald Panganiban, Union Bank of the Philippines Asset Recovery Group
How to inquire
To inquire about any of the foreclosed properties on the list, please call UnionBank directly through the following:
| 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 |
| MARLON | 667-6388 local 8371 |
*Please call during office hours: 8:30am to 5:30pm (Monday to Friday)
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 prior to auction
Are you bidding?
If you are going to bid on a property, and you learned about the property from www.foreclosurephilippines.com, kindly acknowledge me as your referror during the auction.
We would appreciate it if you can call/text to confirm your attendance so we can reserve a seat for you during the auction. Thank you.
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 – 2013 All rights reserved.
Full disclosure: If a buyer will acknowledge me as their referror, I may receive referral fees (at no additional cost to the buyer). Thank you in advance for supporting our hard work and this website.
i stay in one of the high rise condominium in pasay city where we are being charge an annual common area taxes 3k( apart from the personal real tax that we pay for our unit aprox 2k)
as im aware of city-land and other condos does not pass on the common area taxes to unit owners as a practice .. and i wonder is there a we can reprimand a developer/ condo owner for passing on the common area tax to the unit owners?? since we do not own the building itself i don’t see why we should be paying the common area tax..
Hi,
Ask ko lng po if meron kaung agricultural lot for sale somewhere in Davao del Sur?
Thanks,
Mariavil
Hi Jay,
Please let me know if I have my computations correct. Let’s consider Property #9 in the list (Condo/ Unit 513 & 514 Bldg. B / FA120) which is the 120 sq. m. condo in Raya Garden in Parañaque amounting to 4.85M.
Selling Price: 4,850,000.00
Downpayment (10% paid in full): 485,000.00
Loan balance: 4,365,000.00
Interest Rate: 11% per annum
Term: 15 years
Ammortization factor: 0.0113659693
Monthly ammortization: 49,612.46
Total monthly payments paid after 15 years: 8,930,242.11
Total monthly payments paid + DP after 15 years: 9,415,242.11
Total interest paid after 15 years: 4,565,242.11
If my computations are correct, wouldn’t this give me a negative cashflow if I’ll rent out the property @ ~14.8K?
Hi CA Pañebe, yup, looks like your computations are on the dot.
And yes, cashflow would definitely be negative. I suppose this property would only be suitable for end-users not concerned with getting a positive cashflow.
Thanks for the comment, cheers!
Hi Jay, are there any other foreclosed properties na available, not for bidding.. But just for sale. sa may bandang las pinas or cavite. Please send me details and computations. Thank you. If ok, as soon as possible,
Thanks Jay I will look forward to seeing your response Also some where i had read that you have a list of foreclosed CAR’S AND TRUCKS like vans and small trucks not Hugh construction type Please let me know if financing also applies to foreigners Thank you again Salamat
Hello Sir Jay,
I have a question for you I am a foreigner American who has been going to the Philippines for the past 10 years and I want to know if I place a bid on a condo I want do I need to pay it off 100% in full or can I get The NOW AT ONLY 11% INTEREST P.A. (FIXED FOR 15 YRS
Kevin R.M. Buckley | Chief Engineer
CBRE | Engineering
Hi Kevin, I believe financing also applies to foreigners, just make sure the foreign ownership of the condo has not yet exceeded the 40% cap. I’ll also confirm this with Lance or Ronald. Thanks for the dropping by, and no need for “sir”. 🙂
sir jay, i am just a newbie, plan to attend the UNIONBANK public auction but only to observe muna. i read in one of your blogs that i need to bring 25k as show money. do i need to inform the bank officers that i will be attending in advance or i just go there on jan. 26 ? are you conducting any real estate seminar this january or february? thank you so much.
Hi Jack, you only need to bring show money if you are bidding. If you are observing, no need. Just call Lance in advance so he can reserve a seat for you. You can also mention you’re with me.
As for seminars, there’s one from Think Rich Pinoy this Feb 9 but there should also be other CPE seminars for real estate sales persons from which you can also learn a lot from. Just browse our list of review centers for the March 2013 real estate brokers exam, the same providers ususally oferr the CPE seminars.
By the way, no need for “sir”, and the same goes for everyone… hehe!
Thank you so much Jay for the info. May GOD shower you with more blessings this year.
Hi Sir Jay, please check my email sent to your gmail address re: updated pricelists of properties and vehicles with revised offer forms.
thanks and regards….
Leslie / Philmay-Maybank
Hi there,
I saw a frontage foto of property I have identified below on the union bank website. Any other fotos for this property?
Item #: 29 Area : LA: 185 sqm; FA: 88 sqm Min. Bid : 3,250,000
*NEW ITEM: House & Lot
Lot 6 Blk 2 Via Sagana corner Pisana Streets, Venezia 2, Citta Italaia, Phase 2
Mambog, Bacoor, Cavite
Cheers
gina
Do you know the rental yield for those properties in Raya Gardens Paranaque? Do you think that the area could have a good rental demand?
Which is the best website to to find apartments for rent in Manila? Sulit?
Hi Dalamar, I know of a two bedroom unit in Raya Gardens that’s being rented out for Php14,800 (net of monthly dues which is around Php2,200 per month). I can assume the 2 units included here are also 2 bedroom units at 60sqm each.
Yes, sulit would be one of the best places to look, along with olx, myproperty, and ayosdito…
Thanks a lot for the information!
You’re welcome!