China Bank Savings has an updated nationwide list with 344 foreclosed properties for sale. This is updated as of November 29, 2023. Details below.
Reminder – Please read : If you want to inquire with regard to any foreclosed property, you should contact the selling bank/institution directly (see contact details below). We have stopped selling foreclosed properties as real estate brokers. I am sharing listings as a public service announcement for readers/subscribers. Thank you for understanding.
- This list is from China Bank Savings (CBS) which is a subsidiary of China Banking Corporation (China Bank has a separate list of foreclosed properties).
- There are a total of 344 foreclosed properties in this list from Metro Manila and Provincial areas.
- These foreclosed properties are for negotiated sale.
View China Bank Savings Foreclosed Properties List
You may view and/or download the complete listing and other details from CBS, below.
Source: China Bank Savings Website
Reminder: You will need Adobe Acrobat Reader to view PDF files, which is free to download at Adobe.com
Payment terms for China Bank Savings foreclosed properties
- Minimum Downpayment: 20% of the selling price
- Balance: Payable up to 5 years, at 10% annual interest rate
- Note: After the third year, repricing for the interest rate is possible
- Taxes: CWT is to be shouldered by the bank upon full payment, all other taxes and fees (DST, Transfer Tax, Registration Fees, etc.) are to be shouldered by the buyer.
How to avail
Here’s a brief overview of the buying process. (As always, only proceed with the purchase if you have done Proper Due Diligence).
1. Submit an offer
If the property/ies you are interested in pass your due diligence, you can go ahead and submit an offer. Call CBS directly to get all details and complete list of forms and requirements. All offers are subject to management approval.
2. Wait for your offer to get approved/disapproved
a. If your offer was approved, you will receive a notice of approval, along with the next steps/requirements. (Tip: Follow-up to check the status of your offer, and if you need to improve).
c. If the bank receives 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, the bank will contact you and explain the whole process.
Note: The above is just a quick overview based on the info I received when I inquired about properties on the list I am interested in. Please call CBS directly for more details (please refer to their contact info below). Our standard Site Disclaimer applies.
Does China Bank Savings accredit licensed real estate brokers?
I already asked this because of a possible future project with licensed brokers, and the bank said “Yes”, they accredit licensed real estate brokers to sell their foreclosed properties.
Professional fees/commission rates are as follows:
- Selling price is up to Php 5Million: 5% of selling price
- Selling price is above Php 5Million and up to Php 20Million: 4% of selling price
- Selling price is above Php 20Million and up to Php 50Million: 3% of selling price
- Selling price is above Php 50M: 2% of selling price
For inquiries, please contact China Bank Savings directly through their contact info below:
For inquiries, please contact China Bank Savings Directly:
China Bank Savings Acquired Assets Division
- Tel. No. 8-988-9555 loc. 72644
- Direct Line: 8 8124958
“NOTE: Indicative Selling Price may change without prior notice. Thus, please coordinate with Acquired Assets Division for any changes and for the property’s availability before submitting offer.”
For more details on the listed properties, please call the Sales Officer assigned per area:
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.
Search for more foreclosed properties in our database…
You can also search from over 20,000 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.
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:
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.