Pag-IBIG NCR to dispose Acquired Assets via sealed public auction on August 15, 2016

This is the invitation to bid for a public auction to be conducted by the Pag-IBIG Fund Committee on Disposition of Acquired Assets scheduled on August 15, 2016. The auction includes various properties in Bulacan, Cavite, Laguna, Metro Manila and Rizal.

More than 300 properties on the list are priced below Php 1 Million, with the cheapest at only Php177,100.00, which is a 35sqm vacant lot in Dasmarinas Cavite.

The complete list contains three hundred forty seven (347) properties, which can be purchased via cash, installment, or through a Pag-IBIG Housing loan.

After doing their due diligence, interested bidders can submit their sealed bids at the 7th Flr. JELP Business Solutions Center, 409 Shaw Blvd. Mandaluyong City, on August 15, 2016, from 9:00 AM to 12:00 NN only.

Please refer to the invitation to bid and general guidelines below for more details.

Invitation to bid

Acquired Asset Management Group

7th Flr. JELP Business Solutions Center

Shaw Boulevard Mandaluyong City

INVITATION TO BID

July 15, 2016

The Pag-IBIG Fund Committee on Disposition of Acquired Assets shall conduct a sealed public auction for the sale of acquired asset properties at 7th Flr. JELP Business Solutions Center, 409 Shaw Blvd. Mandaluyong City on the following dates:

GENERAL GUIDELINES

1. Interested parties are required to secure copies of: (a) INSTRUCTION TO BIDDERS (HQP-AAF-104) and (b) OFFER TO BID (HQP-AAF-103) from the office of the Acquired Assets Management at 7th Flr. JELP Business Solutions Center, 409 Shaw Blvd. Mandaluyong City or may download the forms at www.pagibigfund.gov.ph (link Disposition of Acquired Assets for Public Auction).

2. Properties shall be sold on an “AS IS, WHERE IS”

3. All interested buyers are encouraged to inspect the property/ies before tendering their offer/s. The list of the properties may be viewed at pagibigfund.gov.ph/aa/ (Other properties for sale- Disposition of Acquired Assets for Public Auction).

Note: web address corrected by Jay Castillo

4. Bidders are also encouraged to visit our website, pagibigfund.gov.ph/aa/ five (5) days prior the actual auction date, to check whether there are any erratum posted on the list of properties posted under the sealed public auction.

Note: web address corrected by Jay Castillo

5. Sealed proposals shall be received by the Committee on Disposition of Acquired Assets’ Secretariat at 7th Flr. JELP Business Solutions Center, 409 Shaw Blvd. Mandaluyong City, starting 9:00 AM but not later than 12:00 NN on the scheduled date; the said proposals shall be opened immediately in the presence of the committee and attending bidders. Bidders are advised to submit their proposals only on the scheduled date of batch. No proposals shall be accepted by the committee earlier or later than the scheduled date.

6. The Bid Offer shall not be lower than the minimum bid set by the Fund.

7. Each bid proposal shall be accompanied by a BIDDER’S BOND either in CASH or MANAGER’S CHECK issued by any commercial bank, payable to Pag-IBIG FUND, for an amount equivalent to 10% of the BID PRICE. It shall likewise serve as the down payment of the winning

8. Payment of the remaining ninety percent (90%) bid offer balance may either be thru any of the following modes:
   1. Cash – on which the approved purchase price shall be paid not later than thirty (30) calendar days from date of receipt of Notice of Award (NOA).
   2. Installment basis – on which payment shall be in equal monthly installment inclusive of 12% interest per annum and provided the chosen payment term shall not exceed twelve (12) months.
   3. Pag-IBIG Housing Loan – payment shall be in the form of monthly amortization based on the approved loan term, which may be up to a maximum of thirty (30) years with the following considerations:
      1. Loan approval and term shall be subject to eligibility requirements stipulated under the Pag-IBIG End-User Home Financing Program guidelines;
      2. The loan amount shall be the bidder’s bid offer, net of the 10% downpayment;
      3. In case the housing loan application has been disapproved, the 10% bidder’s bond shall be forfeited in favor of the fund
      4. The buyer shall be required to file his Pag-IBIG housing loan application and pay the following incidental expenses within thirty (30) calendar days from receipt of the Notice of Approval of Sale:
         1. Processing fee of Three Thousand Pesos (the P1,000.00 shall be paid on the auction day while the remaining P2,000.00 shall be paid upon submission of complete requirements);
         2. Equity, if applicable;
         3. One year advance insurance premiums (sales redemption insurance as well as fire and allied peril insurance);
      5. In case the Bid Offer, net of the ten percent (10%) bid bond, is still higher than the appraisal value of the property, the amount in excess of the appraisal value shall be treated as equity. It shall be paid by the buyer within thirty (30) calendar days upon receipt of Notice of Loan Approval.
      6. Original Borrowers who wish to participate on the Sealed Public Auction shall not be allowed to bid thru housing loan availment. They may only bid thru cash or installment basis.

9. The Bidders shall be present at the opening of bids. Bidders may designate their Authorized Representatives, provided they shall issue the following documents:
   1. Notarized Special Power of Attorney (SPA) for individual-bidder. The SPA’s purpose shall be specific and limited only to authorized representative’s participation on the auction in behalf of the principal bidder.
   2. Secretary’s Certificate for company-bidder

10. The Opening of Bids shall commence from 12:01 PM until completion.

11. The bidder who offers the highest bid shall be declared as the winner.

12. In case of a tied highest bid, it shall be resolved by applying the following order of preference:
    1. Cash Offer (Mode of Payment);
    2. Time of entry/registration in the auction room.

If there is still a tie, it shall be resolved immediately by an open auction between/among the tied highest bidders.

13. The non-winning bidders’ respective bid bonds shall be returned to them immediately together with an Acknowledgment Receipt once a winning bidder has been declared.

14. If the winning bidder fails or refuses to push through with the purchase of the property, or fails to pay in full the remaining balance within 30 calendar days from receipt of the Notice of Award (NOA), he shall lose his right as winning bidder and the 10% bidder’s bond shall be forfeited in favor of the Fund.

15. Interested parties may visit the ACQUIRED ASSETS MANAGEMENT or contact ROSCIEL A. BRIONES or MR. CONAN ACENAS at tel. no. 654-1398. You may also email your inquiries for further details at aad_ms@pagibigfund.gov.ph.

PAG-IBIG FUND RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS, TO WAIVE ANY FORMALITY THEREIN OR ACCEPT SUCH BIDS AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE FUND. THE DECISION OF THE FUND IS FINAL AND BINDING.

(signed)

ATTY. DIGNA P. MAGPANTAY

Vice President

Acquired Asset Management

List of foreclosed properties

Note: I reformatted the original list so it can fit in the table below, which is search-able (just type in the search box to search/filter the foreclosed properties. You can also sort according to price, just click on MINIMUM BID column)

Download Invitation To Bid

You may download a copy of the original invitation to bid for offline viewing using the link below:

Source: Pag-IBIG official website

For more details, please contact Pag-IBIG directly through the contact details specified above. You may also download the official forms directly from Pag-IBIG’s website.

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P.P.S Click here to view other Pag-IBIG foreclosed properties auction schedules for August 2016.

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