Sterling Bank of Asia invites interested parties to bid for their repossessed vehicles for sale on an “As is where is” basis. The deadline for submission of sealed bids will be on Thursday, August 11, 2011, 3:00pm. I would like to acknowledge and give thanks to Junie Jamero for sending us this invitation to bid. Junie is also from the Acquired Assets Mgmt. Department of Sterling Bank of Asia. Please continue reading to see the complete list of repossessed cars for sale, bidding guidelines, and pictures of the vehicles.
INVITATION TO BID
“As is where is”
As of July 29, 2011
Sterling Bank of Asia is inviting everyone to submit sealed bids for the following repossessed vehicles:
Stored in Bagong Barrio, Caloocan City Make Year Model Color Plate No. Mileage Minimum Bid Price 1 BMW 116i A/T Gas 2010 White no plate 5,025 1,517,000.00 2 Chevrolet Captiva A/T Diesel 2009 Silver YHZ 722 12,235 1,036,000.00 3 Chevrolet Trailblazer A/T Gas 2005 Black HDK-888 53,150 662,000.00 4 Hyundai Tucson A/T Gas 2009 Blue NOI-938 32,813 747,000.00 5 Isuzu Alterra A/T Diesel 2010 Black NOG-355 17,409 1,128,000.00 6 Isuzu Dmax LS 4×2 M/T Diesel 2010 Black LGR 388 18,941 910,000.00 7 Isuzu Sportivo M/T Diesel 2010 Red YJV 931 4,870 964,000.00 8 Kia Soul A/T Gas 2010 Black YHN-955 7,272 975,000.00 9 Mazda Tribute 2.3L A/T Gas 2008 Black YGY-199 29,461 812,000.00 10 Mazda 3 1.6L A/T Gas 2009 Black NBO-118 17,971 530,000.00 11 Mitsubishi Lancer EX GT M/T Gas 2009 Black NKQ-942 13,310 895,000.00 12 Mitsubishi Lancer EX GLX M/T Gas 2010 White PQQ-954 6,934 777,000.00 13 Mitsubishi Lancer EX GLX M/T Gas 2010 Beige PHO-702 8,077 760,000.00 14 Nissan X-trail A/T Gas 2008 Black ZME-531 70,865 637,000.00 Stored in Sterling Bank Caloocan Branch Make Year Model Color Plate No. Mileage Minimum Bid Price 15 Chevrolet Aveo M/T Gas 2010 Silver FGX 232 5,212 534,000.00 16 Ford Everest A/T Diesel 2007 Black ZLE-751 67,664 774,000.00 17 Ford Focus Hatchback 1.8L A/T Gas 2008 Black ZNP 400 77,688 526,000.00 18 Honda Civic Vti M/T Gas 2004 White GTY-673 95,830 338,000.00 19 Hyundai Getz M/T Gas 2010 Silver PHO-983 2,353 420,000.00 20 Hyundai Getz M/T Gas 2010 Black PHO-437 17,141 416,000.00 21 Hyundai i10 Gold A/T Gas 2010 Black PXQ-588 9,990 515,000.00 22 Hyundai i10 GLS 1.2L A/T Gas 2010 Gold PGQ-627 14,257 428,000.00 23 Hyundai i10 GLS 1.2L A/T Gas 2009 Silver NTI-433 22,218 400,000.00 24 Hyundai i10 A/T Gas 2009 Gold NQI-675 57,577 377,000.00 25 Hyundai Sta Fe CRDi A/T Diesel 2008 White 7C1289D 37,634 865,000.00 26 Hyundai Tucson CRDi A/T Diesel 2009 Silver NHI-744 9,800 813,000.00 27 Hyundai Tucson A/T Gas 2009 Black NVO-908 54,808 746,000.00 28 Kia Carens A/T Diesel 2008 Black YHN 706 15,234 800,000.00 29 Kia Rio A/T Gas 2010 Gray YJG-236 26 560,000.00 30 Kia Rio M/T Gas 2010 White YHS-481 7,006 550,000.00 31 Kia Rio M/T Gas 2010 White FGX 234 35,170 500,000.00 32 Kia Rio M/T Gas 2009 Red ZTT-240 15,960 542,000.00 33 Mazda 3 1.6L A/T Gas 2010 White YJQ 205 3,031 694,000.00 34 Mazda 3 1.6L A/T Gas 2009 Red YGP-316 18,854 626,000.00 35 Mazda 3 1.6L A/T Gas 2007 Red ZNJ-468 64,954 455,000.00 36 Mazda 3 1.6L A/T Gas 2006 Red ZGK-628 25,308 380,000.00 37 Mitsubishi Adventure GX M/T Diesel 2009 Red NUI-712 78,164 560,000.00 38 Mitsubishi Fuzion GLX A/T Gas 2008 Silver NQI-836 24,588 680,000.00 39 Ssangyong Stavic A/T Diesel 2009 Black ZTT-402 16,582 548,000.00 40 Ssangyong Stavic A/T Diesel 2007 White ZKY-204 67,281 469,000.00 41 Suzuki Celerio M/T Gas 2010 Blue NIP-621 14,819 444,000.00 42 Suzuki Swift M/T Gas 2009 Red YHF 143 25,104 540,000.00 43 Toyota Altis G A/T Gas 2009 Black NII-818 42,094 588,000.00 44 Toyota Avanza J M/T Gas 2009 Black YJA 499 22,487 470,000.00 45 Toyota Hiace Commuter Van M/T Diesel 2003 Light Green XNC-255 152,056 446,000.00 46 Toyota Innova Sport Runner A/T Diesel 2010 Bronze NQG 528 15,310 820,000.00
BIDDING RULES AND GUIDELINES:
1. This invitation is open to the public.
2. 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 bidding can be viewed at the Bank’s website, www.sterlingbankasia.com. (you may also click on the image below to view the PDF file which contains pictures of the repossessed cars for sale)
3. Visits to the vehicles’ storage areas and photocopies of the ownership documents can be coordinated with the personnel of Acquired Assets, specifically Junie (0917-878-6540 or 02-982-9343) or Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-982-9377 or 02-217-6780) or Resnel (0917-534-2697 or 0932-691-1608 or 02-982-9388 local 2781) or Adrian (0927-394-8279 or 02-982-9388 local 2718). They may also be reached through [email protected].
4. The indicated floor prices are the minimum bid prices, thus, any bid below the floor price would automatically be disqualified.
5. All interested parties may submit their bids in sealed envelopes to the Office of the Audit Group Head, 2nd Flr. Sterling Bank of Asia Corporate Center,Ortigas Ave., Greenhills, San Juan.
6. 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.
7. The last day of submission of bids shall be on Thursday, August 11, 2011, 3:00 p.m. The prices quoted above shall be valid only up to the last day of submission.
8. 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.
9. 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.
10. 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.
11. 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 26th floor Wynsum Corporate Plaza, F. Ortigas Jr. Ave. (formerly Emerald Ave.), OrtigasCenter, Pasig City.
12. 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.
13. 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.
14. For further inquiries, you may call Resnel (0917-534-2697 or 0932-691-1608 or 02-982-9388 local 2781) or Adrian (0927-394-8279 or 02-982-9388 local 2718) or Junie(0917-878-6540 or 02-982-9343) or Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-982-9377 or 02-217-6780). They may also be reached through [email protected].
To our success and financial freedom!
Real Estate Investor
PRC Real Estate Broker Registration No. 3194
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.
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.