BE A WISE REAL ESTATE INVESTOR
Home » Foreclosed Properties » Sterling Bank foreclosed properties for sealed bidding on February 9, 2017

Sterling Bank foreclosed properties for sealed bidding on February 9, 2017

Just received this list of Sterling Bank foreclosed properties that are for sale via sealed bidding. Deadline of submission of bids is on February 9, 2017. Details below.

We received a copy of the listing the other day from Ms. Marie Perez of Sterling Bank’s Acquired Assets Management Department, and I was only able to post this now. Sorry for the short notice.

As usual, these foreclosed properties are all for sale on an “as is, where is” basis.

The invitation to bid with complete list of properties and pictures can be found below.

Sterling Bank of Asia foreclosed properties for sealed bidding on February 9, 2017

[gview file=”https://www.foreclosurephilippines.com/wp-content/uploads/2017/02/sterling-bank-foreclosed-properties-invitation-to-bid-for-real-estate-properties-as-of-feb-3-2017.pdf”]

Alternately, you may also click here to download a copy of the listing

Note: You will need Adobe Acrobat Reader to view PDF files, which is free to download at Adobe.com

Bidding guidelines

INVITATION’S RULES AND GUIDELINES:

  1. This invitation is open to the
  2. THE INDICATED PRICES ARE ONLY VALID UNTIL February 9,
  3. The assets are offered on an “as is, where is” basis, thus, prospective buyers are advised to personally visit, inspect and verify them and their pertaining document/s of ownership to ascertain their actual condition and
  4. Visits to the property, photocopies of the ownership documents, pictures and vicinity maps can be coordinated with the personnel of Acquired Assets Management Department, specifically Adrian (361-7771 or 0917-8786540) and Joey (361- 7766 or 0917- 3058373) They may also be reached through assets@sterlingbankasia.com.
  5. The indicated floor prices are the minimum bid prices, thus, any bid below the floor price would automatically be disqualified.
  1. All interested parties may submit their bids in sealed envelopes to the Office of the Audit Group Head, 2nd Sterling Bank of Asia Corporate Center, Ortigas Ave., Greenhills, San Juan.
  2. All bids must be submitted in the prescribed bid form and must be accompanied by a deposit in the form of a check payable to Sterling Bank of Asia amounting to PhP 50,000 or 10% of the bid price, whichever is lower. It would form part of the purchase price in case the bidder wins. In the case of a losing bid, it would be returned to the bidder.
  3. The last day of submission of bids shall be on Thursday, February 9, 2017, 3:00 p.m. The prices quoted above shall be valid only up to the last day of
  4. The bids would be opened and evaluated by the Office of the Internal Audit Head together with a representative from acquired assets mgt. dept. on the next banking day following the last day of submission. The properties shall be awarded to the highest bidder. In the event of a tie, the same shall be settled by the drawing of
  5. Sterling Bank reserves the right to reject any or all bids, to waive any formality therein and to accept the bid most advantageous to the Bank.  The decision of Sterling Bank would also be final and binding.
  1. Winning bidders would be notified by Acquired Assets Mgt. Dept. after the results of the bidding are approved by the Bank’s Notified winners would have ten (10) working days from receipt of notice to complete the purchase price either in cash or through an approval for a real estate loan facility from Sterling Bank. Failure to fully settle the bid price within the prescribed 10 working day period shall revoke the winning bidder’s right to purchase the subject property and forfeit his/her bid deposit in favor of the Bank.
  2. Losing bidding participants would also be notified of the results the following day after the Bank’s approval of the bidding results. Bid deposit checks of the losing bidders can be claimed upon receipt of notice at Acquired Assets Management Department, Between 7th and 8th Rizal Ave. Gracepark Caloocan.
  3. Upon full settlement of the winning bid price or purchase price, the Bank would execute a Deed of Sale in favor of the winning bidder and release all pertinent documents of the property within five (5) working days subject to the documentary requirements of the Bank. The creditable withholding tax on the sale shall be shouldered by the Bank while the other taxes, fees and expenses necessary for the transfer of ownership to the winning bidder or buyer shall be for the account of the
  4. The subject property would be turned over to the winning bidder or buyer upon full payment of the winning bid and completion of the Bank’s documentary requirements on the

For further inquiries, you may call Adrian (361-7771 or 0917-8786540) and Joey (361-7766 or 0917-3058373). They may also be reached through acquired.assets@sterlingbankasia.com.

~~~

Text by Jay Castillo and Cherry Castillo. Copyright © 2017 All rights reserved.

Full disclosure and reminder: Nothing to disclose, we are not brokering these properties from Sterling Bank. Please contact Sterling Bank directly for any inquiries. Thank you for understanding!

P.S. Do you work for a bank and you want us to include your listing of foreclosed properties and/or repossessed cars? Click here to submit your listings!

Photo of author
About Jay Castillo
People encounter problems and make mistakes when buying foreclosed properties, and Jay wants to help people avoid those problems/ mistakes. Jay encountered a lot of those, which is why he started this blog in 2008 to serve as a guide where he shares lessons learned, and how to overcome challenges you may encounter when investing foreclosed properties in the Philippines … [Read more]
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.

Leave a Comment

13 thoughts on “Sterling Bank foreclosed properties for sealed bidding on February 9, 2017”

  1. Hello Sir Jay, do you have a forclosed house here in Eastwind Homes and Centella Homes Rodriguez, Rizal? Kindly send me a mail please. Thank you and God Bless.

    Reply
  2. hi mr. castillo do you have somewhere here in san pedro laguna or sta rosa.? hope to hear from you about this. thank you.

    Reply
    • Sorry Ms. Elena, we have stopped brokering properties which is why we can no longer provide assistance to people looking for properties in a specific location. If you cannot do the searching yourself, then my suggestion is for you to get the sevices of a licensed real estate broker.

      SInce most people ask me if I can refer someone, the first that comes to mind would be my friends Eden and Bryan Dayrit and their colleagues at TRP/Remax. Their contact details can be found in this article: http://www.foreclosurephilippines.com/how-to-succeed-husband-and-wife-real-estate-brokers/

      Reply
      • Sir tanong ko lang po.kapag po yung nkuha mong unit or bahay e may nkatira po pano po kung ayaw po nilang umalis kahit may pinang hahawakan kana na ikaw na yung may ari nung bahay o nung unit.eskwat lang naman po sila dun.thank you po.

        Reply
  3. Dear Jay,

    I’m a govt employee for 17 years and a PAG-IBIG member. Do you know which bank could I get in touch which could buy out a foreclosed property? Thanks!!! 

    GEORGE

    Reply
  4. Thanks Jay for the prompt reply, can you assist us coz we are looking for property around 300sqm in BF Paranaque and I saw this, we are interested at this property. 
    Residential Lot w/ 2-storey Improvement421 Orbit St., cor. Atlas St., Aero Park Subd., Better Living, ParañaqueCity5 minutes away from SM Bicutan and Bicutan Interchange, 10 minutes to the Airport1,046 sqm452 sqm.PhP11,700,000
    Thanks! 
    Marian 

    Reply
    • You’re welcome Marian, we will visit this property today and send you pictures and other details we can get from Sterling Bank. Thank you also!

      Reply
    • Hi Marian, yes you may, no need to go through any bidding as these are for negotiated sale. You just have to submit your offer. Thanks for asking that!

      Reply
    • Hi Errol, this might be one of the reasons why none of these got sold during the sealed bidding last December 1, 2011, as stated above. Let me reiterate that this time around, the properties are for negotiated sale, which means selling prices are now negotiable.

      Reply
Share

Did you miss buying a foreclosed property because it was too late when you saw the listing/ auction schedule?

Here's the solution...

DON'T BE THE LAST TO KNOW!

GET UPDATES FOR FORECLOSED PROPERTIES VIA EMAIL

Join over 100,000 smart real estate investors who receive

updated foreclosed property listings, auction schedules,

and real estate investing tips via email, it's free!

No thanks / Already subscribed
x
We take privacy seriously and we'll never spam you.
Please refer to our Privacy Policy

X
I'm looking for foreclosed properties in...


Looking for an article?
Click here to search the blog
Share