PDIC acquired asset (Residential lot w/ improvement) at Lot 10 Block 16, Isabelle Gardens Homes (now Mariano South Centerpoint) Barangay Moonwalk, Parañaque City – For Bidding on 24-Apr-2019

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by Editorial Staff
Published: March 26, 2019 (11 months ago)
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This is included in a public bidding of Foreclosed Properties from various closed banks to be conducted by the Philippine Deposit Insurance Corporation (PDIC). The bidding shall be on Wednesday, April 24, 2019. More details below.

Property details

  • Property Number: 1-1029-000000040
  • Location: Lot 10 Block 16, Isabelle Gardens Homes (now Mariano South Centerpoint) Barangay Moonwalk, Parañaque City
  • Description: Residential lot w/ improvement
  • Title/TD No.: TCT No. 154430
  • MINIMUM BID (PhP): 812,000.00
  • Disclosures*: a,k,l (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
d – Covered with TD (only) in PDIC’s name/Closed Bank’s name
e – Covered with TD (only) not in PDIC’s name/Closed Bank’s name
g – Original Owner’s or ROD’s copy of TCT missing/ reportedly gutted by fire — reconstitution for buyer’s account
i – With notice of levy or attachment, notice, of tax liens, lis pendens or encumbrances/ legal case/adverse claim affidavit of loss
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
v – Inconsistencies in data found in title/TD
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
A – COS Stamped registered by ROD but not annotated in the Tax Declaration
B – With notarized Deed of Sale/Dacion en Pago/Deed of Assignment/Court Clearance/Decision/ Certification in favor of the bank/PDIC but not annotated in the title
K – Title in the name of mortgagee/originating bank/PDIC but TD still in the name of previous owner
1 – Registration not renewed/Car key missing
3 – With cancellation of chattel mortgage/REM but not annotated in the title
6 – The property is located within the residential compound of the previous owner
7 – Creek/river/legal easement not yet deducted in the area
9 – Properties to be sold as a whole
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
27 – Former Bank Premises
40 – With discrepancy in the lot area per latest TD and old TD or in the lot area indicated in the TD & COS
42 – With typo-discrepancy in describing lot area of the property in words versus in figure indicated in the title
43 – No available tax map/cadastral map at the Assessor’s Office
49 – Verification of property records with the Assessor’s / Treasurer’s Office at the buyer’s instance
50 – Shape of the lot does not form a polygon when plotted based on the technical description appeearing on the title
53 – Property consists of 2 adjoining lots covered by one (1) title
57 – Original copy of Owner’s Duplicate of Title is in the custody of PDIC
60 – Title registered in the name of the borrower/former owner but the TD is declared in the another party’s name
62 – With discrepancy in the lot area per latest TD with the title
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
75 – 2nd Owner’s duplicate copy is with a 3rd party
76 – With annotation of Option to Buy; for cancellation of the buyer

Bidding Details

  • Date: Wednesday, April 24, 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 the following dates:

April 24, 2019 bidding – May 9, 2019 (Thursday) | April 25, 2019 bidding – May 10, 2019 (Friday) | May 7, 2019 bidding – May 22, 2019 (Wednesday)

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 : pad@pdic.gov.ph

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.


Contact info

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 : pad@pdic.gov.ph

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:

==> PDIC foreclosed properties for sale and auction schedules

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: 2019-03-26 with file PDIC-ITB_APRIL_MAY-2019, which can also be downloaded from the link above.

Source: PDIC Website


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