This is included in a public bidding of Repossessed Cars of various closed banks to be conducted by the Philippine Deposit Insurance Corporation (PDIC). The bidding shall be on Friday, March 1, 2019. More details below.
- Property Number: 168-2019-02-04
- Location: Rural Bank of Luna (Apayao) – Abulug Branch, Brgy. Libertad, Abulug, Cagayan
- Description: 2010 Toyota Innova 2.5G
- Title/TD No.: VEP 558
- MINIMUM BID (PhP): 530,000.00
- Disclosures*: 30 (See meaning below)
*Please refer to the meaning of the Disclosures below:
a – Title/OR/CR registered in PDIC’s name/Closed Bank’s name
b – Title, OR/CR registered in borrower’s name/former registered owner’s name
e – Covered with TD (only) not in PDIC’s name/Closed Bank’s name
k – With unpaid taxes
l – With lessee/tenants/informal dwellers/caretaker/encroachment/ planted to crops
m – Buyer to determine occupancy/tenancy
n – Needs relocation survey
o – No Right-of-Way or used as Right-of-Way / With annotation of right-of-way
r – Net of Right-of-Way/easement due to waterways, river, creek, erosion/traversed by road
t – Improvement without tax declaration
x – With subdivision/condominium restrictions and/or subject to special conditions
y – With annotation pursuant to Rules of Court or RA or Civil Code or other pertinent laws
K – Title in the name of mortgagee/originating bank/PDIC but TD still in the name of previous owner
1 – Registration not renewed
2 – OR/CR missing on file/original CR with LTO or vice versa
3 – With cancellation of chattel mortgage/REM but not annotated in the title/OR/CR
4 – TD in third party’s name
13 – Exact boundaries not determined due to absence of tax mapping in the area.
15 – The property is prone to flooding/landslide/erosion
21 – The property is located within an undeveloped subdivision/area
23 – Property traversed by Road/irrigational canal/transmission line/electrical post/creek
30 – OR/CR registered in the name of former owner but w/ Certificate of Sale/Deed of Absolute Sale/Deed of Assignment in favor of the Bank/PDIC
50 – Shape of the lot does not form a polygon when plotted based on the technical description appearing in the title
55 – With information that the property has already been sold allegedly by the former owner/s.
60 – Title registered in the name of the borrower/former owner but the TD is declared in the another party’s name
69 – Exemption of the Republic of the Philippines from the obligation to grant a right of way to the grantee of the property
74 – No approved subdivision plan on file.
- Date: Friday, March 1, 2019
- Time: Bids shall be accepted starting 9:00 A.M. until 1:45 P.M. (PDIC time/No extension)
- Venue: 9th Floor PDIC Training Room, SSS Bldg., Ayala Ave. corner Rufino St., Makati City
Please refer to important bidding information as stated in the invitation to bid:
1. Sealed bids will be accepted from direct buyers only.
2. The sale shall be for CASH and on “As-Is, Where-Is” basis and the winning bidder shall undertake the responsibility to acquire and maintain peaceful possession and enjoyment of the property without seeking the assistance of PDIC.
3. The term “As-Is-Where-Is” shall refer not only to the description and physical condition of the property and its contents or inclusions at the time of the bidding, if any is declared to be part of the sale, but also to the condition of the title of the property or other evidence of ownership and the extent and state of whatever rights, interests and participation over the property of closed banks may have at the time of the bidding. It shall also include the winning bidder’s assumption of all unpaid taxes, fees and/or expenses, such as, but not limited to capital gains tax or creditable withholding tax whichever is applicable, value added tax, documentary stamp tax, registration and transfer fees, association or condominium fees and/or assessments, and all other expenses and charges in order to, as applicable, cause the transfer of the title from the named owner to the winning bidder.
4. The bidder is deemed to have conduct due diligence on the condition, status and ownership of the properties and, for this purpose, make the appropriate inquiries or verification with the applicable registries or government agencies and units and other entities.
5. Each bid shall be accompanied by a deposit equivalent to at least ten percent (10%) of the submitted bid, which shall be in the form of cash or Manager’s/Cashier’s Check (or a combination thereof) issued by a universal or reputable commercial bank
payable to Philippine Deposit Insurance Corporation or PDIC.
6. The winning bidder shall pay the balance of the bid price/purchase price, in full, within fifteen (15) calendar days from receipt of the Certificate of Award or on 16 March 2019 (Note: Since the date falls on a Saturday, bidder to pay on the next working day). Checks should be cleared otherwise award is automatically cancelled.
7. PDIC reserves the right to withdraw without prior notice any or all of the properties offered for sale any time before the deadline for submission of bids.
“Bid forms, copies of the Conditions of Bid and standard format of the Special Power of Attorney and Secretary’s Certificate which are required for participants who are submitting a bid on behalf of another individual or an organization, respectively, may be secured free of charge from the abovecited PDIC address. Bid documents may also be downloaded from the PDIC website at www.pdic.gov.ph.
Complete description of the properties is available at the Asset Management and Disposal Group, PDIC 7/F SSS Building, Ayala Avenue cor. Rufino St., Makati City. For further information, you may call our Public Assistance Department at:
Tel. No. : (632) 841-4630 to 31 • Toll free : 1-800-1-888-7342 or 1-800-1-888-PDIC • Email : email@example.com
The holding of the bidding on the published date shall be cancelled in case there is a declaration that it is a non-working day or due to fortuitous events. In which case, the bidding shall be held on the following working day at the same time and venue. If there are any bid registered and submitted prior to the declaration of a non-working day and before the opening of bids, these shall be returned unopened immediately after the declaration of the work suspension.
Bidders are advised to bring proper identification (ID) with photo which shall be required for entry to the bidding area.
ROPA DISPOSAL COMMITTEE
For further information, you may call PDIC’s Public Assistance Department at:
- Tel. No. : (632) 841-4630 to 31
- Toll free : 1-800-1-888-7342 or 1-800-1-888-PDIC
- Email : firstname.lastname@example.org
View complete list of properties included in this auction
To view the complete list of properties included in this auction and also the invitation to bid, you may visit the following page:
Disclaimer and Reminders
- All foreclosed properties are for sale on an “AS IS, WHERE IS” basis. Interested parties are reminded to conduct proper due diligence prior to the purchase of any foreclosed property.
- Availability, prices, and property status are subject to change without prior notice.
- Misprints should not be construed as misrepresentation of the property.
Last updated on: 2019-02-21 with file PDIC-INVITATION_TO_BID_MARCH012019, which can also be downloaded from the link above.
Source: PDIC Website