China Bank Savings has an updated nationwide list with 336 foreclosed properties for sale. I found this listing over the weekend, and noticed this is updated as of June 18, 2020. Details below.
Table of Contents
- 1 Listing Summary
- 2 View China Bank Savings foreclosed properties list (database)
- 3 Foreclosed Properties Search (FPS) – Search all foreclosed properties in the Philippines
- 4 Browse all locations with foreclosed properties by Province/City
- 5 Payment terms for China Bank Savings foreclosed properties
- 6 How to avail
- 7 Does China Bank Savings accredit licensed real estate brokers?
- 8 Contact Info
- 9 Disclaimer and Reminders
- 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 336 foreclosed properties in this list from Metro Manila and Provincial areas.
- These foreclosed properties are for negotiated sale.
You may view and/or download the complete listing and other details from CBS, below.
View China Bank Savings foreclosed properties list (database)
To view the entire list CBS foreclosed properties in our database for easy searching/filtering, click on the button below:
Source: CBS Website
Foreclosed Properties Search (FPS) – Search all foreclosed properties in the Philippines
To quickly search for ALL available foreclosed properties in your preferred location/ village/ subdivision etc., use our Foreclosed Properties Search or FPS tool below.
- Search by typing keyword(s) and/or location(s) and click “Search” (Hint: Include keyword “cbs” to only include CBS foreclosed properties in search results, leave blank for all)
- Use “Advanced Search” to choose preferred price range, lot/floor areas (if data is available), and also to exclude those classified as occupied/without possession.
Browse 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, grouped by Province/City, on this page:
Note: The “Classifieds Database” is a work in progress. If you have comments/suggestions, please do let me know by leaving a comment below.
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.
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 the telephone numbers below:
- Tel. No. 8-988-9555 loc. 72644
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.
FREE CHECKLIST: IDENTIFY AND AVOID PROBLEMATIC FORECLOSED PROPERTIES BY DOING PROPER DUE DILIGENCE!
Avoid losing money, wasted time and effort caused by buying foreclosed properties that have too many problems, with our free 60-item Property Due Diligence Checklist. Grab your free copy now.