A total of 288 UCPB Foreclosed Properties are for sale via sealed bidding, and the deadline for submission of bids is on November 4, 2021. Details below.
UCPB Foreclosed Properties Sealed Bidding Schedule
Here’s a summary of important dates related to the sealed bidding of foreclosed properties from United Coconut Planters Bank (UCBP):
- Pre-bid conference: October 25, 2021 at 10am (to be conducted online via MS Teams. Details on how to join the pre-bid conference are inside the bidding rules and procedure below).
- Deadline of submission of bids: November 4, 2021
- Announcement of bid results: November 5, 2021
UCBP Contact Info
For more information, you may DIRECTLY contact UCPB Asset Management and Disposition Division through the following telephone numbers:
- (632) 8811-9963
- (632) 8811-9968
- (632) 8811-9958
- (632) 8811-9839
- (632) 8811-9832
You may also email them at:
- preownedproperties@ucpb.com
Download the complete list of UCPB foreclosed properties
A total of 288 UCPB foreclosed properties in Metro Manila and Provincial areas are included in the bidding and you may download the complete listing using the button / link below (these are direct links to the file on UCPB’s official website).
==> Click here to download the list of UCPB foreclosed properties (PDF) ❯
Note: You will need Adobe Acrobat Reader to view PDF files, which is free to download at Adobe.com
Bidding rules and procedure and bidding form
If you are interested in participating in the bidding, please refer to the bidding rules and procedure, plus the bidding form below. (These are direct links to the files on UCPB’s website):
==> Bidding rules and procedure ❯
==> Bidding form ❯
What are “NO POSSESSION” foreclosed properties?
Please take note that for a significant number of properties on the list, the bank has “NO POSSESSION” of said properties.
This means that the property either has illegal occupants/tenants, or it has been abandoned.
Please refer to our experience below when we purchased a “NO POSSESSION” foreclosed property from UCPB.
Our experience buying a UCPB Foreclosed Property tagged as “NO POSSESSION”
I remember our experience buying a UCPB foreclosed property that said “NO POSSESSION” on the list at that time. Yes, UCPB had no possession of the condo, but based on our inspection/due diligence, we found out that the unit was abandoned (it had no illegal occupants and was locked).
However, the property had unpaid condo dues, and because of this, the turnover to us got delayed (the arrears had to be paid before we can get authorization to have the unit unlocked).
Good thing we were prepared and had a backup plan (we urgently needed to move-in because school was about to start for our son).
Anyway, I’m glad that all issues were addressed in a professional and timely manner, and I’m so thankful to everyone from UCPB who assisted us. I’ll share more details about our experience in a separate article or video.
“NO POSSESSION” can also mean a foreclosed property has illegal occupants
In my experience I shared above, it turned out the property was abandoned even if UCPB had no possession.
However, you will definitely encounter “NO POSSESSION” properties that have illegal occupants. In this case, you will have to do the ejection.
If it has an ongoing court case (indicated under the column “Legal Case” in UCPB’s list of foreclosed properties), the buyer will also takeover and continue the court case.
Because of the reasons above, I highly advice against buying foreclosed properties that have illegal occupants and/or an ongoing court case, even if they are cheap. To learn more about this, check out the following article:
Full disclosure
We have nothing to disclose. Even if we are licensed real estate brokers, we are not selling foreclosed properties from UCPB (you should contact/transact with UCPB directly).
We are just sharing this as a public service announcement for those interested in foreclosed properties from UCPB.
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.
- Our standard site disclaimer applies.
References
1. UCPB Website as retrieved on October 22, 2021 at 9:01pm
