Almost 700 UnionBank foreclosed properties from Metro Manila, Luzon, Visayas, and Mindanao, are included in this public sealed bidding and the deadline for bids is on August 9, 2024. Details below.
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I got this list a few minutes after they published it
I was checking Unionbank’s website earlier today (August 6, 2024) at around 4pm, and they still had the August 2 listing.
When I checked again at 5:44pm the list was updated with the August 9, 2024 list! 🙂
While I am happy I chanced upon this list a few minutes after they published it on their website, I hope they will upload sooner, ideally at least 1 month in advance just like before the pandemic.
View/download Unionbank foreclosed properties list for sealed bidding
I will upload this list to the database as soon as possible, if time permits.
Learn more about Unionbank’s “Acquired Properties”
Here’s a short video about Unionbank foreclosed properties:
Source: Unionbank Website
Who will shoulder taxes related to the purchase?
According to the bidding guidelines, all taxes and expenses related to the sale will be for the buyer’s account. These include but are not limited to:
- Creditable Withholding Tax or CWT
- Documentary Stamps Tax or DST
- Business Tax
- Transfer Tax
- Registration Fees
Payment terms: Installment Terms Are Back!
Yes, installment terms are finally back. Here are details I found at Unionbank’s website:
Our properties are offering flexible terms as follows:
Source: Unionbank Website
- Cash – payable within 5 days upon receiving the Award Certificate (5% discount applicable only to Auction sales)
- Installment – 20% down payment (outright) and the balance payable at a maximum of 15 years at 11% per annum fixed interest rate.
As usual, cash buyers will get a 5% discount, which is only applicable to auction sales.
Does UnionBank require credit checking?
Yes, since installment payment terms are back, then credit checking is required. Please refer to the bidding guidelines for all requirements.
Contact Info for UNIONBANK ASSET RECOVERY GROUP
For more info, please call UnionBank DIRECTLY through the following:
- JP: 09178241494
- MC: 09178600875
- JESS: 09456983327
By the way, if you plan to call Unionbank, please do so during office hours: 08:30 am to 05:30 pm (Monday to Friday).
You may also contact them via:
Sealed Bidding Details and Important reminders
- Deadline for submission of bids: August 9, 2024 (Friday, 5:00 PM)
- How to submit bids: Submit online via email: [email protected]
“PLEASE SUBMIT YOUR ACCOMPLISHED BIDDING FORMS, BIDDING RULES, AND VALIDATED DEPOSIT SLIP VIA EMAIL: [email protected] NOT LATER THAN August 9, 2024 (Friday, 5:00 PM).
———
JUST DEPOSIT THE P20,000.00 SHOW MONEY AT ANY NEAREST UNIONBANK BRANCH TO QUALIFY TO BID FOR EACH PROPERTY.
CWT IS FOR THE ACCOUNT OF THE BUYER.
CASH OR MANAGERS CHECK TO BE DEPOSITED TO:
ACCOUNT NUMBER: 1906322505001144 ACCOUNT NAME: UNIONBANK OF THE PHILIPPINES“
Please refer to Bidding Rules and Regulations below for more info.
What to include when submitting sealed bids
The sealed bid must contain the following:
- Signed Bid Form
- Signed Bidding Rules + all listed requirements (see Annex A of Bidding Rules and Regulations)
- Validated deposit slip for the Php20,000 show money
For more info, please refer to the Bidding Rules and Regulations.
UnionBank Bidding Rules, Guidelines, Requirements
Here’s a copy of the bidding rules and guidelines, plus other related forms for quick reference (these are direct links to the files on UNIONBANK’s WEBSITE):
- Download Flyer (for a mirrored copy, see PDF file above)
- Bid Form
- Bidding Rules and Regulations
- Personal Info Form
- Signature Card
- Offer To Buy Form
If you have questions, you may contact UnionBank directly.
Reminders
1 ) UnionBank may, at anytime, withdraw any of the properties listed above prior to auction.
2 ) Office Hours: 08:30 am to 05:30 pm (Monday to Friday).
3 ) Payment of Creditable Withholding Tax (CWT) is for the Buyer’s account.
4 ) All winning bidders will be subject to credit checking.
5 ) LA – Lot Area
6 ) FA – Floor Area
“The properties are sold on an “AS IS WHERE IS” basis. All interested buyers are encouraged to conduct overall due diligence o n the physical condition of the property including any issues on arrearages such as association dues, electrical & water utilities.
MISPRINTS ARE NOT MISREPRESENTATION OF ANY PROPERTY
Full disclosure
Nothing to disclose. While we are accredited licensed real estate brokers with Unionbank, we have stopped brokering foreclosed properties at the moment, so please contact Unionbank directly to inquire. We are sharing this as a public service announcement to all our readers and subscribers. Thank you for understanding!
Happy hunting!
Source: UnionBank Website
Search for more foreclosed properties in our database…
You can also search from over 30,000 foreclosed properties in our database.
This includes other banks and lending institutions that have foreclosed properties for sale.
Use this to quickly search for all foreclosed properties in a subdivision, village, condominium project, city, etc.
==> Click for advanced foreclosed properties search
All locations with foreclosed properties by Province/City
You can also browse all locations within the Philippines with foreclosed properties available from ALL banks/lending institutions inside our database, grouped by Province/ City, on this page:
==> Click to browse all foreclosed property locations
Note: The “Foreclosed Properties Database” is a work in progress. If you have comments/ suggestions, please do let me know by leaving a comment below.
HI sir, how much po ang show money?
Hi Shi, as mentioned in the article, it is PHP20,000.00
Just a friendly reminder, to get more details for a specific property, always contact Unionbank directly. Since we no longer act as brokers, you should contact the bank directly.
Sir Jay pls advise me if the property located in Block 16 lot 14 Phase Executive series Mabuhay City Mamatid Cabuyao Laguna is ready for sale i am interested.
Hi Flakes, sorry for the late reply, I only redeployed the database last September 2017, and now you can easily search for condos in Cebu, here are the search results:
https://www.foreclosurephilippines.com/classifieds/?query=cebu+condo
Hi any cebu condos foreclosures for sale?as i foreigner i cant buy land and house.
Hi Sir! This is a good site! I’m excited to learn about this. By the way, when is the next Union Bank auction? Any update on the issue of a winning bidder that fails credit checking? Lastly, how long will it take for the property title to be named after the winning bidder/buyer especially for BFS properties? Thanks so much!
Thanks Phelg! Oops, that’s one thing I haven’t checked yet with Unionbank, have not been able to attend any of their auctions lately.
Regarding title transfers, they only do this if the property is bought through a mortgage loan. If purchased through cash or installment (ex. contract-to-sell) and it’s fully paid, the title will be released to the buyer and the buyer will handle the transfer, which can be between 3 to 6 months if all documents are in order.
By the way, for titles not yet under the name of the bank or lending institution/entity (these are called unconsolidated), there can be delays, especially if there are missing documents/or of they do it in batches.
hi sir ! This is Anjellique Ching, I’ve seen an foreclosed property here @ Mankor Homes Subd. in San Jose del Monte Bulacan under Union Bank but I;m not seeing it sa list above??? Is there a way you can check that property address ??? I think Its on Phase 5 or 6 … Thanks!
Hi Anjellique, my suggestion would be to call Unionbank directly to verify why it is not yet on their list. It might be because the property still has some issues (maybe it has a court case/lis pendens), which is why it is not yet listed. I’m assuming you saw a Unionbank sign/tarp on the property so it means they already have possession, they are just not including it in their lists for now.
Hello all, I am a none Philippine national (English). I am fully aware that a foreigner cannot own independently own any land within the Philippines. The property that i would be bidding on would be for my fiancee. It will almost be impossible to run a credit check on me. I presume the credit check is to assure the payment of the mortgage, however I am in a position that i would be able to buy the house outright (zero mortgage).
My question is; Is this a posibility or do they only want to sell to people and lock them in at such extorional rates?
Hi Brett, yes, you can buy outright through a cash purchase, and they used to give a 5% discount. I removed that from my post above as it’s been awhile since the last time I attended their auctions, and I’m not sure if the 5% discount is still applicable.
If you think these are extortional rates, you should have seen their rates years ago (13% annual interest rate for the first 3 years and 15% for the remaining 12 years. 🙂
Hello Jay and thank you for your reply, and if they still offer the 5% then thats even better news. Regarding the interest rates, as i said I am from the UK and for as far back as i can remember the rates have always been around 3 to 4%.
Its completely of topic, however I am curious, does the Housing market reflect this with the annual house price increase
Hi sir. what if nanalo sa bidding but failed sa credit checking, ibabalik po ba ang show money?
Thank you.
Good question Frank, thanks for asking. Bago lang kasi itong “with credit checking policy” nila so I will have to talk to the guys at Unionbank to find out. Update ko kayong lahat when I get the info.
Thank you po sa reply. I’ll wait sa update niyo.
Hello sir.Are there any special requirements for people that participate?
Hi Andreas, you only need to bring the required “Show money”, which is refundable if you don’t win with your bid, or if you don’t bid at all.
Thank you sir for your reply!As a foreigner can I pay the rest of the amount with installments?
You’re welcome Andreas. I believe yes, as long as you pass their credit checking, and you are buying a condo unit in a project that is still below the 40% maximum ownership ceiling for foreigners.
ano po ibig sabihin ng show money sa bidding?
Ay, nasagot ko na po ito dunsa isa niyong comment
what do you mean ng show money sorry di ko alam yun?
Show money po ay parang entry fee para maka-attend ng auction, pero refundable po siya pag hindi nagbid, or hindi nanalo. Magiging part po siya ng downpayment pag nanalo sa bid.
Ang purpose po ng show money ay para sigurado na seryoso ang mag-participate sa bidding.
Hi sir, pag sinabo po natin na per property, kailangan meron kang bid letter? kung gusto ko lang po pumunta para makita ko kung pano ang biddings?
Hi RD, hindi na kailangan ng bid letter para mag bid, “open auction” kasi sa Unionbank, itataas lang ng bidders ang number nila.
Para mag observe, kailangan mo pa rin daw ng show money, pero i-re-refund yon after the auction.
Hi Sir Jay, I read the book of Sir Larry Gambao, ask ko lang po, anu description if apartment type ug property? Is it the Residential compound?
Thank you
Hi Cyrus, most of the time it’s “lot with improvement”, but it actually it can be anything. What you need to pay attention to would be the floor area. A big floor area can mean a multi-unit property.
Hi Sir Jay,
Thank you for this.
You’re welcome!
Sir jay, I’d like to ask kung allowed po ba sa auction na observer muna, ung d muna magbbid. Gusto ko po sana pagaralan muna ung process ng auction. Marerefund pa po ba ung show money? Thank u.
Hi Rachel, yes, refundable yung show money if observer ka lang muna. Thanks for the question, inupdate ko na rin yung article tungkol sa show money.