The Philippine Deposit Insurance Corporation (PDIC) shall conduct 3 public biddings for a total of 104 PDIC foreclosed properties and repossessed cars/equipment from various closed banks on April 24, 25, and May 7, 2019. Sealed bidding details can be found below.
Sealed bids shall be accepted from 9:00 A.M. until 1:45 P.M. (PDIC time/no extension) during each day of the biddings.
As usual, all foreclosed properties/chattels included in the listings included in the public biddings below are for sale on an “as-is, where-is” basis, and interested parties should have already done their due diligence prior to submitting their bids.
Disclosure(s) applicable for each property
Before attending/purchasing a property through this bidding, please check the issues pertaining to each property under “Disclosures” included with the details. Here’s a table from the invitation to bid that explains what those disclosures mean:
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
View list of PDIC foreclosed properties
This list of properties have already been uploaded in our database, and you can view them all through the button/link below:
Download invitation to bid
Alternately, you may download a copy of the invitation to bid below:
Source: PDIC website
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 : email@example.com
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.
ROPA DISPOSAL COMMITTEE
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 : firstname.lastname@example.org
Past auctions of PDIC (Archive)
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.
Full disclosure: Nothing to disclose. The PDIC bidding is for direct buyers only. We are posting this as a form of public service because a lot of you out there have been asking for these listings.
If you have any questions/inquiries regarding a property included in the auction, please contact PDIC directly through the contact info included with the details of each property, and also in the invitation to bid above. Thank you for understanding!