Sterling Bank repossessed cars sealed bidding slated on December 15, 2011

Sterling Bank invites all interested parties to submit sealed bids for their repossessed cars for sale on or before December 15, 2011.

The repossessed cars can be inspected at Kotse Network, SM North Edsa beside SM Hypermart, and at the Sterling Bank ShawWarehouse located at No. 412 Shaw Blvd., Mandaluyong City (refer to vicinity map below).

Please keep take note that any bids below the minimum bid price as indicated on the list below shall be disqualified. Please refer to complete bidding rules and guidelines below after the list of repossessed cars.

Complete list of Sterling Bank repossessed cars for sale

Displayed at Kotse Network, SM North Edsa beside SM Hypermarket
	Make	Year Model	Color	Plate No.	Mileage	Minimum Bid Price
1	Chevrolet Aveo M/T Gas	2010	Silver	FGX 232	5,212	470,000.00
2	Chevrolet Captiva A/T Diesel	2009	Silver	YHZ 722	12,235	829,000.00
3	Chevrolet Trailblazer A/T Gas	2005	Black	HDK-888	53,150	662,000.00
4	Ford Escape A/T Gas	2010	Blue	FGT-217	13,255	795,000.00
5	Ford Focus Hatchback 1.8L A/T Gas	2008	Black	ZNP 759	44,651	456,000.00
6	Hyundai Getz 1.1L M/T Gas	2010	Black	PHO-437	17,141	416,000.00
7	Hyundai i10 GLS 1.2L A/T Gas	2010	Black	PXQ-588	9,990	465,000.00
8	Hyundai Tucson A/T Gas	2009	Blue	NOI-938	32,805	675,000.00
9	Isuzu Sportivo A/T Diesel	2010	Green	PRO-687	15,173	950,000.00
10	Mitsubishi Adventure GLX M/T Diesel	2010	Red	PBI-596	11,590	600,000.00
11	Mitsubishi Lancer EX GLX M/T Gas	2010	Beige	PHO-702	8,077	760,000.00
12	Mitsubishi Montero Sport GLS A/T Diesel	2010	Black	PNO-570	37,455	1,150,000.00
13	Toyota Avanza 1.3 J M/T Gas	2009	White	YGY-827	9,143	420,000.00
Stored in Sterling Bank Shaw Warehouse – No. 412 Shaw Blvd., Mandaluyong City beside Liberty Center and in front of Red Ribbon
	Make	Year Model	Color	Plate No.	Mileage	Minimum Bid Price
14	BMW 116i A/T Gas	2010	White	No plate	5,107	1,500,000.00
15	BMW 530i A/T Gas	2006	Green	ZDA – 584	22,578	2,050,000.00
16	Chery A5 Sedan M/T Gas	2008	Black	YGH 687	26,845	200,000.00
17	Chery QQ 311 M/T Gas	2009	Yellow	YHN 990	24,722	180,000.00
18	Chevrolet Venture A/T Gas	2002	Blue	XEN-493	68,142	243,000.00
19	Ford Expedition A/T Gas	2003	Black	XEN-625	odometer not functioning	405,000.00
20	Ford Expedition A/T Gas	2004	Black	XND-717	92,824	650,000.00
21	Honda Civic Vti M/T Gas	2004	White	GTY-673	95,830	338,000.00
22	Hyundai Accent M/T Diesel	2009	White	YJB-327	90,247	450,000.00
23	Hyundai Getz Gold M/T Gas	2010	Silver	PHO-983	2,353	420,000.00
24	Hyundai Getz M/T Gas	2010	Silver	NQR-856	11,186	416,000.00
25	Hyundai Getz M/T Gas	2010	Black	NOR-446	19,009	405,000.00
26	Hyundai i10 GLS 1.2L A/T Gas	2010	Gold	PGQ-627	14,257	428,000.00
27	Hyundai i10 GLS 1.2L A/T Gas	2009	Silver	NTI-433	22,214	400,000.00
28	Hyundai Tucson A/T Gas	2009	Black	NVO-908	54,808	675,000.00
29	Isuzu Trooper A/T Diesel	2003	Silver	XGN-659	77,233	584,000.00
30	Kia Carens A/T Diesel	2008	Black	YHN 706	15,234	800,000.00
31	Kia Picanto M/T Gas	2009	Silver	YHH 836	20,495	389,000.00
32	Kia Rio A/T Gas	2010	Gray	YJG-236	26	560,000.00
33	Kia Rio A/T Gas	2009	Red	ZTT-240	15,960	542,000.00
34	Kia Rio M/T Gas	2010	White	FGV-461	25,291	550,000.00
35	Kia Rio M/T Gas	2010	White	YHS-481	7,006	550,000.00
36	Kia Rio M/T Gas	2010	White	YHR-983	28,062	523,000.00
37	Kia Rio M/T Gas	2010	White	YGH-123	5,242	465,000.00
38	Kia Rio M/T Gas	2010	White	7LU102 (temp. plate)	5,285	465,000.00
39	Kia Rio M/T Gas	2009	White	YGM 596	19,096	445,000.00
40	Kia Rio M/T Gas	2009	Red	YHN 358	10,558	437,000.00
41	Mazda 2 1.3L M/T Gas	2011	Black	YJU-993	15,449	580,000.00
42	Mazda 3 1.6 S A/T Gas	2011	Red	PQF-408	12,926	625,000.00
43	Mazda 3 1.6 S A/T Gas	2010	White	YJB-942	16,931	611,000.00
44	Mazda 3 1.6 V A/T Gas	2009	Black	7CD800 (temp. plate)	30,671	470,000.00
45	Mazda 3 1.6 S A/T Gas	2007	Red	ZNJ-468	64,953	405,000.00
46	Mazda Tribute A/T Gas	2008	Black	YGY-468	64,953	405,000.00
47	Mitsubishi Adventure GLS Sport M/T Diesel	2009	Red	NFQ-408	35,830	586,000.00
48	Mitsubishi L300 FB M/T Diesel	2008	White	ZSG-549	88,943	386,000.00
49	Mitsubishi Lancer EX GLS A/T Gas	2010	White	NQJ-283	92,468	786,000.00
50	Mitsubishi Lancer EX GLX M/T Gas	2010	White	PQQ-954	6,931	750,000.00
51	Mitsubishi Lancer EX GT-A A/T Gas	2010	Blue	NKK-88	9,625	897,000.00
53	Nissan Urvan Shuttle M/T Diesel	2010	Green	PCO-570	46,027	820,000.00
54	Suzuki APV GLX Gold M/T Gas	2010	Red	PBO-469	10,192	645,000.00
55	Suzuki Celerio A/T Gas	2010	Blue	PUI-332	18,242	424,000.00
56	Suzuki Celerio M/T Gas	2010	Blue	NIP-621	14,819	364,000.00
57	Suzuki Swift A/T Gas	2009	Red	YGX-135	22,443	570,000.00
58	Toyota Avanza J 1.3 M/T Gas	2009	Black	YJA-499	22,469	395,000.00
59	Toyota Innova J M/T Diesel	2010	Red	PUQ-598	21,555	640,000.00

Source: Resnel Laquindanum of Sterling Bank of Asia

INVITATION’S RULES AND GUIDELINES:

1. This invitation is open to the public.
2. THE INDICATED PRICES ARE ONLY VALID UNTIL DECEMBER 15, 2011.
3. The vehicles 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 status.  Pictures of the vehicles offered for sale can be requested from Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-217-6780) or Resnel (0917-878-6540 or 0917-534-2697 or 0922-851-8070).  They may also be reached through acquired.assets@sterlingbankasia.com. 
4. Visits to the vehicles’ storage areas and photocopies of the ownership documents can be coordinated with the same personnel of Acquired Assets, mentioned in No. 2.
5. The indicated floor prices are the minimum bid prices, thus, any bid below the floor price would automatically be disqualified.
6. All interested parties may submit their bids in sealed envelopes to the Office of the Audit Group Head, 2^nd Flr. Sterling Bank of Asia Corporate Center, Ortigas Ave., Greenhills, San Juan.
7. 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 10% of the bid price.  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.
8. The last day of submission of bids shall be on Thursday, December 15, 2011, 3:00 p.m.  The prices quoted above shall be valid only up to the last day of submission.
9. The bids would be opened and evaluated by the Office of the Internal Audit Head together with a representative from Acquired Assets 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 lots.
10. Sterling Bank reserves the right to reject any or all intentions, to waive any formality therein and to accept the offer most advantageous to the Bank.  The decision of Sterling Bank would also be final and binding.
11. Winning bidders would be notified by Acquired Assets after the results of the bidding are approved by the Bank’s management.   Notified winners would have five (5) working days from receipt of notice to complete the purchase price either in cash or through an approval for an auto loan facility from Sterling Bank.  Failure to fully settle the bid price within the prescribed 5 working day period shall revoke the winning bidder’s right to purchase the subject vehicle and forfeit his/her bid deposit in favor of the Bank. 
12. 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 Department 26^th floorWynsumCorporatePlaza,F. Ortigas Jr. Ave. (formerlyEmerald Ave.),OrtigasCenter,PasigCity.    
13. 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. 
14. The winning bidder must pull out the vehicle/s from the Bank’s premises within two (2) working days from date of full payment, otherwise, ONE THOUSAND PESOS (PhP 1,000.00) per day shall be charged as storage fee.
15. For further inquiries, you may call Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-217-6780) or Resnel (0917-878-6540 or 0917-534-2697 or 0922-851-8070).  They may also be reached through acquired.assets@sterlingbankasia.com. 

~~~

To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://www.foreclosurephilippines.com
Follow me in Twitter: http://twitter.com/jay_castillo
Find us in Facebook: Foreclosure Investing Philippines Facebook Page

Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.

Full disclosure: Nothing to disclose.