124 Unionbank Foreclosed Properties included in March 23, 2019 Auction For Luzon/Metro Manila

by Jay Castillo | Filed under: - 30 Comments

Still available and included in this auction: Foreclosed townhouse in Cavite at Lot 31 Blk 2 Villa Lessandra Imus Subdivision (near Buhay na Tubig Elementary School / Vivace Subdivision) Barangay: Brgy. Tanzang Luma, Cavite. Lot Area: 44 sqm; Floor Area: 46 sqm. Minimum Bid Price: PhP 1,490,000

Sorry for the short notice, I just got this auction flyer when I visited a Unionbank branch in Makati. It has a total of 124 UnionBank foreclosed properties in the Luzon/Metro Manila areas, which are included in their 295th Special Public Auction to be held on Saturday, March 23, 2019, 9:00am. More details below.

Unionbank requires credit checking

Just wanted to remind everyone that Unionbank requires credit checking for all winning bidders, as stated in the fine print.

Luzon and Metro Manila – March 23, 2019 auction

The 295th special public auction of UnionBank foreclosed properties located in Metro Manila and Luzon will be held on March 23, 2019, Saturday, 9:00am. This auction includes 124 foreclosed properties.

Venue shall be the 28th floor, Unionbank Plaza, Meralco Avenue corner Onyx Road, Ortigas Center, Pasig City, Philippines.

View/download list of foreclosed properties

The complete list is of UnionBank foreclosed properties for this auction can be viewed/downloaded below.

Click to download Unionbank foreclosed properties in Luzon for public auction on March 23, 2019 (PDF)

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

Source: Flyer was from Unionbank branch in Rada Street, Makati

Auction terms

UnionBank still offers very affordable payment terms as follows:

  • Installment terms are as follows:
Downpayment:10% (minimum) 6 months to pay at zero-interest
Interest:11% per annum (fixed for 15 years)
Term:15 years (maximum)

Show money

Bidders need to bring Php20,000 show money in the form of cash or manager’s checks (MC) per property to participate in the auction.

Show money is refundable if you don’t win with your bid (or if you don’t bid at all).

Sample computation

SELLING PRICE (SP)= Php1,000,000.00

TERM: 15 years

DOWN PAYMENT (DP) = 10% of SP = Php100,000

Down payment (6 months to pay)

=DP/6 months


Down payment per month:

  • 1st month: Php16,666.67
  • 2nd month: Php16,666.67
  • 3rd month: Php16,666.67
  • 4th month: Php16,666.67
  • 5th month: Php16,666.67
  • 6th month: Php16,666.67

Monthly Amortization

Monthly amortization = (SP – DP) x Amortization Factor Rate

=(Php1,000,000 – Php100,000) x 0.0113659693*


*note: amortization factor rate used is for 11% interest rate at 15 year term (click here to view amortization factor rate table)

You may also use our mortgage calculator to compute for the monthly amortizations.

How to inquire

For prompt assistance when inquiring about any of the foreclosed properties on the list, please call UnionBank directly through the contact numbers in the flyers/listings which you can download above.

*Note: Please call during office hours: 8:30am to 5:30pm (Monday to Friday)

The “fine print”

  • UnionBank may, at anytime, withdraw any of the properties listed above prior to auction.
  • Payment of Creditable Withholding Tax (CWT) is for the Buyer’s account.
  • All winning bidders will be subject to credit checking.

Overview of buying via auction from UnionBank

Based on past Unionbank auctions we have attended, here’s a quick overview of the buying process via auction:

1. View/download list of properties and identify those you are interested in.

2. Contact Unionbank directly through the contact information included in the list of properties, and get property details, etc.

3. If you are satisfied with the details of the properties you identified earlier, you should do your due diligence (inspect the properties, verify the documents, etc.). We recommend that the buyer will do the inspection personally. Recommended reading: 31 Questions You Need To Ask When Inquiring About A Foreclosed Property

4. If the properties you are interested in pass your due diligence, you can already prepare to attend the auction. Call Unionbank to get more auction details. You should prepare requirements like the PHP 20,000 show money (cash or manager’s check), ID’s, etc. If you cannot attend the auction, it should be possible to send a representative on your behalf (check with the bank the exact requirements for this).

5. Attend the auction with the required show money.

a. If you made a bid and you won during the auction, your show money becomes part of the downpayment, and the bank will assist you with finalizing the purchase (choosing payment terms like your preferred downpayment amount/ years to pay for the balance and interest rate/ etc., signing of the contract-to-sell, when you can move-in, etc.)

b. If you made a bid and did not win during the auction, you’re show money will be returned to you.

Note: The above is just a quick overview based on our own experiences when we attended past auctions of UnionBank. Their exact auction procedure is subject to change without prior notice. To get more auction details, please contact UnionBank directly. Our standard Site Disclaimer applies.

Past auctions of Unionbank foreclosed properties (Archive)


Happy hunting!


Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2018 All rights reserved.

Full disclosure: Nothing to disclose, we will not be able to attend this auction.


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