The Philippine Deposit Insurance Corporation (PDIC) shall conduct another public sealed bidding of PDIC foreclosed properties and various closed banks on July 31, 2018. Up for bidding are a total of 58 foreclosed properties, with a total selling price of PHP 40.9M (based on the minimum bid per property). Sealed bidding details can be found below.
According to the Invitation To Bid, sealed bids shall be accepted at the 9/F PDIC Training Room, SSS Building, Ayala Avenue corner V.A. Rufino Street, Makati City.
Sealed bids shall be accepted from 9:00 A.M. until 1:45 P.M. (PDIC time/no extension)
As usual, all foreclosed properties included in the listings 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.
Please take note of the 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 of each property. Here’s a table from the invitation to bid that explains what those disclosures mean:
a – Title registered in PDIC’s name/Closed Bank’s name
b – Title, OR/CR registered in borrower’s name/former registered owner’s name
g – Original Owner’s or ROD’s copy of TCT missing/ reportedly gutted by fire — reconstitution for buyer’s account
k – With unpaid taxes
l – With lessee/tenants/informal dwellers/caretaker/encroachment/ planted to crops
n – Needs relocation survey
o – No Right-of-Way or used as Right-of-Way
r – Net of Right-of-Way/easement due to waterways, river, creek, erosion/traversed by road
v – Inconsistencies in data found in the title/TD
y – With annotation pursuant to Rules of court or RA or Civil Code or other pertinent laws
15 – The property is prone to flooding/landslide/erosion
20 – Buyer to reimburse real estate tax payments advanced by PDIC/closed banks CY 2018 onwards
21 – The property is located within an undeveloped subdivision/area
27 – Former Bank Premises
48 – With technical discrepancy in describing the lot number of the property between the title and in the subdivision plan
57 – Original copy of Owner’s Duplicate of Title is in the custody of PDIC.
67 – With typographical error in the name of the registered owner on the title
68 – Exemption of the property from the provision of Article 567 of the Civil Code (on the right of usufructuary to the fruits)
View list of properties
This list of properties have already been uploaded in our database, and you can view them through the button/link below:
Download invitation to bid
Alternately, you may also download a copy of the invitation to bid below:
Source: PDIC website
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!