A total of 97 repossessed vehicles from closed banks shall be for sale through a public sealed bidding to be conducted by the Philippine Deposit Insurance Corporation or PDIC, on November 16, 2012, at the PDIC Training Room, 9th Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino Street, Makati City, Philippines.
Submission of sealed bids will be from 9:00am to 2:00pm. Opening of bids will immediately follow the 2:00pm deadline of submission of bids.
All of the repossessed are for sale on an “as-is where is” basis hence all interested bidders are strongly advised to conduct proper and reasonable due diligence before the sealed bidding.
Bid bond and payment terms
All sealed bids are to include 10% (minimum) of the submitted bids in the form of cash or Manager’s Check. Winning bidders are required to pay the 90% balance on or before November 27, 2012.
Complete list of repossessed vehicles and other documents
To get a copy of the Invitation to Bid (contains a complete list of the repossessed cars), Conditions of Bid, Bid Form, Special Power of Attorney (proforma), Secretary’s Certificate (proforma), Bidder’s Advisory, checklist of requirements, and to view pictures of the repossessed cars for sale through sealed bidding, you may visit the following link to PDIC’s website:
How to inquire
Please call PDIC’s Asset Management and Disposal Group DIRECTLY through the following telephone numbers
- 841-4650
- 841-4651
- 841-4668
- 841-4770
- 841-4772
- 841-4777
Happy hunting!
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To our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2012 All rights reserved.
Full disclosure: Nothing to disclose.
Image courtesy of: David Castillo Dominici / FreeDigitalPhotos
can we view the cars thru internet? or do you have a list?
Hi Armi, yes, you may view the pictures and the whole list online using the link to PDIC’s website above. I’ll post it here for your reference:
http://pdic.gov.ph/index.php?newasset=1&astat=vbidding
By the way, PDIC has already removed the listing and auction details from their website after the auction.