10,663 Bank of Commerce Foreclosed Properties in March 2024 Nationwide Listings

March 6, 2024 – A total of 10,663 foreclosed properties from Bank of Commerce are available for negotiated sale in their latest batch of pricelists as of March 2024 (1st Quarter). Details below.

Bank of Commerce releases Q1-2024 listings of foreclosed properties for sale

Update Summary

The updated listings include foreclosed real estate from Metro Manila, Luzon, Visayas, and Mindanao areas. It also has a big list of memorial lots in provincial areas.

View all Bank of Commerce foreclosed properties (searchable database)

For easy searching and filtering, all the pricelists have been uploaded to our foreclosed real estate database. Use the button/link below to view.

==> Click to view list with all Bank of Commerce Foreclosed Properties

View/download the listings per geographical region

Listing Details# of Foreclosed
Properties
Properties in Metro Manila
314
Properties in Luzon
1,110
Properties in Visayas
394
Properties in Mindanao
193
Foreclosed Memorial Lots (Provincial)
8,652
Total:
10,663

*The pricelists above replaces all previous listings from Bank of Commerce that we have shared in the past here at ForeclosurePhilippines.com

Please take note of properties with no price (for re-appraisal) and “special concerns”

Please take note that quite a number of properties have no price (they will appear as “Read More” in my foreclosed real estate database) and the remarks state they are “For re-appraisal”.

You should call Bank of Commerce DIRECTLY to ask for the selling price if it is already available.

Also, some properties from Bank of Commerce have the following statuses or “special concerns” as follows:

* No Possession
** With pending case
*** Under redemption

“No Possession” means the property either has illegal occupants or the property is locked and the bank is unable to enter and take over the possession (Properties that are classified as “No possession” can be easily excluded when searching our database, more on this below).

“With pending case” means a court case is ongoing (usually between the bank and the former owner) and the buyer will take over the case from the bank.

“Under redemption” means a property is still within redemption period and the former owner can still get the property back by redeeming it. To learn more about the redemption period, visit this page at BATASnatin.com

As always, we do not recommend buying foreclosed properties that have illegal occupants and/or have pending court cases.

Exclude properties with zero prices, no possession

Here are quick links to exclude properties with zero prices and no possession/occupied:

==> Click here to exclude all properties that have zero prices (those for re-appraisal)

==> Click here to exclude all properties that have issues (those that have illegal occupants/bank has no possession)

Listing details and important reminders

The foreclosed properties from Bank of Commerce are for negotiated sale, no need to go through a public auction.

This means that interested parties only need to submit their offers. There will only be a bidding if a property receives multiple offers.

More details can be found in the following reminders from the Acquired Assets Management Department (AAMD) of Bank of Commerce below.

IMPORTANT REMINDERS:

1) All sales on “AS-IS, WHERE-IS” and “NO RECOURSE” bases. No warranties.

2) Prices NOT applicable to buybacks by former owners. Please contact Acquired Assets Management Department for buyback price.

3) Properties & prices subject to change anytime & may be removed from the list for any reason Top Management deems appropriate.

4) The list may reflect properties sold without the knowledge of AAMD. For immediate correction, kindly advise AAMD of such fact if identified.

5) If multiple offers are received for the same property, a bidding shall be conducted and the property shall be awarded to the highest bidder.

6) Mere submission of an Offer to Purchase does not confer “first option” or “first right” to the offeror.

7) The deficiencies stated herein are not meant to be exhaustive, comprehensive or complete. Buyers are advised to conduct their own due diligence prior to making an offer.

8) The Bank only shoulders Creditable Withholding Tax up to purchase price. Excess CWT are for buyer’s account.

9) This list is an intellectual property of Bank of Commerce. However, Bank of Commerce is not in anyway liable if this shall be copied, reproduced, altered and/or tampered for any activities other than the purpose of marketing properties contained in it.

10) No application fee is required.

11) Bid Offer should be labeled as “Bids and Awards Committee – Bank Property Bid” and be addressed to:

Bids and Awards Committee Secretariat
Finance and Controllership Group
12th floor SMPC Bldg., Ortigas Center
c/o Maritess C. Claveria

I would like to emphasize what was mentioned in the reminder that the list might contain properties that are already sold since the list is updated quarterly, and these foreclosed properties are offered to the public through various channels.

So if you are interested in any property, you should first check the availability with the bank to avoid wasting time.

Please be patient when waiting for updates regarding your offers

I remember I assisted a friend of mine when he made an offer for one of the properties from Bank of Commerce (I was still active as a real estate broker back then).

After around 6 months of consistent follow-up, we almost gave up and thought our offer was not approved.

However, we were pleasantly surprised when we got notified that my friend’s offer was approved!

We were able to complete that transaction successfully… patience is key!

However, I would advice that you consistently follow-up, just like what we did. 🙂

Bank of Commerce Contact Details

For inquiries, please refer to contact details below, depending on the location of your target properties:

METRO MANILA PROPERTIES
VISAYAS PROPERTIES
CLUB SHARES
LUZON PROVINCES PROPERTIESMINDANAO PROPERTIES
OTHER LUZON PROPERTIES
GEDETTE "GED" L. DE TAZA
GLDeTaza@bankcom.com.ph
8982-6000 loc. 6373

VAN LEMUEL "VANNY" O. SANCLARIA
VOSanclaria@bankcom.com.ph
ANNA PATRICIA "ANNA" R. T. LEON
ARLeon@bankcom.com.ph
8982-6000 loc. 6374

BEA EUNICE "BEA" F. AGUILAR
BFAguilar@bankcom.com.ph
BRIXCLEO "BRIX" P. ROSALDO
BPRosaldo@bankcom.com.ph
8982-6000 loc. 6273

Source: Bank of Commerce website

~~~

Does Bank of Commerce have repossessed cars for sale?

If you are looking for repossessed cars from bank of Commerce, here’s their latest list:

==> Bank of Commerce Repossessed cars for sale

Happy hunting!

Disclaimer and disclosure

  • 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.
  • Foreclosed property listings often include properties that are occupied. We do not recommend that you buy occupied properties, even if they are cheap.
  • Since we no longer broker foreclosed properties, those who are requesting for foreclosed properties in any particular city/village/subdivision, can just search my foreclosed properties database or browse my compilation of ALL LOCATIONS (per city/provinces) with foreclosed properties.
  • Because we don’t broker foreclosed properties anymore (as stated above), we obviously cannot entertain requests for foreclosed property details. We highly suggest that you contact the banks/sellers/government lending institutions directly for your requirements, or get the services of their accredited and licensed real estate brokers who may assist you.
  • Let me reiterate: PLEASE DO NOT CONTACT US/LEAVE A COMMENT TO REQUEST FOR PROPERTY SPECIFIC DETAILS. As stated above, the correct way to get details is to CONTACT SELLING BANK/INSTITUTION DIRECTLY TO INQUIRE (REFER TO THE LISTING FOR CONTACT DETAILS). Thank you for understanding!
  • To get notified when the next updated listings of foreclosed properties are published, you may subscribe to e-mail alerts (this is 100% free!).

Search for more foreclosed properties in our database…

You can also search from over 30,000 foreclosed properties in our database.

This includes other banks and lending institutions that have foreclosed properties for sale.

Use this to quickly search for all foreclosed properties in a subdivision, village, condominium project, city, etc.

==> Click for advanced foreclosed properties search

All locations with foreclosed properties by Province/City

You can also browse all locations within the Philippines with foreclosed properties available from ALL banks/lending institutions inside our database, grouped by Province/ City, on this page:

==> Click to browse all foreclosed property locations

Note: The “Foreclosed Properties Database” is a work in progress. If you have comments/ suggestions, please do let me know by leaving a comment below.

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