This property is included in the latest list of BDO foreclosed properties that are for negotiated sale, updated as of 2022-JAN-07. More details below.
- Property Source: Banco De Oro (BDO)
- Property Type: RESIDENTIAL – HOUSE AND LOT
- Vicinity: Laoag, Ilocos Norte
- Property Address: Lot 34228-A, Brgy. 23 (San Matias), Laoag City, Ilocos Norte (With Certificate of No Improvement)
- Lot Area (sqms.): 183.67
- Floor Area (sqms.): 155.00
- Indicative Price (Php): PHP 3,871,860.00
For more information or clarification you may call or visit BDO’s office:
Mila Dioneda / Sales Officer
09564920261 / 09223724522
BDO Asset Management Group / Sales Department
25/F, Pacific Star Building, Sen. Gil Puyat Ave., corner Makati Ave., Makati City
How to avail – a summary of how to buy BDO foreclosed properties
Based on our past transactions with BDO, here’s a quick overview of the buying process via negotiated sale:
1. Identify properties you are interested in
Browse through the list and Identify properties you are interested in.
2. Contact BDO directly to get more property details
You can proceed and contact BDO directly to get more property details / payment terms / schedule an ocular, etc. Contact info can be found below.
3. Do your due diligence
If you are seriously interested in a property/ies, you should do your due diligence (inspect the properties, verify the title/tax declaration, check what are the taxes and fees you will shoulder as the buyer, etc.). We recommend that you do the inspection personally. If you’re abroad, you can ask a trusted relative do the inspection for you, but I still recommend that you come home at least once to personally inspect the property yourself, before submitting an offer.
4. Choose your payment terms
In addition to cash payment, here are the payment terms we got last time we checked for BDO:
- Reservation Fee: 5% of selling price
- Minimum downpayment: 25% of selling price (exclusive of the 5% reservation fee)
- 70% balance: Payable over 5 years at 12% annual interest rate. Optionally, you may choose to get a loan takeout later either from BDO or other banks/lending institutions. Call BDO for details.
By the way, since payment terms often change, most especially the interest rates, always call the bank directly to get what currently applies before you submit your offer(s).
5. Submit an offer
Note: Offers are now received on a “first come first served basis”. This is the new sales process as of June 1, 2021. In the past, if a property gets multiple offers, there will be a bidding. Now, whoever made the first offer will get processed and can end up as the winning offer if it gets approved (no need to go through a bidding).
If the property/ies you are interested in pass your due diligence, you can go ahead and submit an offer, inclusive of the 5% reservation fee. Call BDO directly to get all details and complete list of forms and requirements. Note: If your target property is under promo, you can submit an offer up to 20% below the listed price. All offers are subject to management approval.
6. Wait for your offer to get approved/disapproved
a. If your offer was approved, your 5% reservation fee becomes part of the downpayment, and BDO will assist you with finalizing the purchase. You need to choose between cash payment (usually due in 30 days after notice of approval), in-house financing, or bank loan (you need to finalize your downpayment amount/ years to pay for the balance and interest rate, submission of requirements, contract signing, when you can move-in, etc.)
b. If your offer was not approved, your reservation fee will be returned to you.
c. If the BDO received multiple offers including yours, you might be invited to participate in a sealed bidding to determine which bid will be accepted. If ever this situation arises, BDO will contact you and explain the whole process.
Note:The above is just a quick overview based on our own experiences from past transactions with BDO. Their exact procedure is subject to change without prior notice. Our standard Site Disclaimer applies.
To get more details, please contact BDO directly. Refer to their contact details above. ~ Jay Castillo
View the complete list of BDO foreclosed properties
To view the entire list of BDO foreclosed properties in this update, you may visit the following page:
- Sale shall be on “as is where is” basis.
- All offers are subject to Management approval.
- Availability of units and prices are subject to change without prior notice.
- Misprints should not be construed as misrepresentation of the property.
- Lease offers welcome for all C0ND0MINIUM units listed except those under “With Authority to Sell”. Please call for price.
- Where applicable, prices are exclusive of VAT”
Last updated on: 2022-JAN-07 with file BDO-FORECLOSED-PROPERTIES-FOR-SALE-JANUARY-2022.pdf
Source: Mila Dioneda – BDO Asset Management Group
- BDO Foreclosed RESIDENTIAL – HOUSE AND LOT at Lot 2-F-13-B-1-A, Barangay 38-A (Mangato), Laoag City, Ilocos Norte (Lot Area: 500.00 sqm; Floor Area: 224.00 sqm)
- Philmay Foreclosed Property at #62 Lot 11072-A, Abadilla Street, Poblacion, Barangay #17 San Francisco, Laoag City – Residential with a single- storey structure – vacant (Lot Area: 347.00 sqm)