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500+ UnionBank Foreclosed Properties in May 12, 2023 Sealed Bidding

As of May 10, 2023, total of 522 UnionBank foreclosed properties from Metro Manila, Luzon, Visayas, and Mindanao, are included in a public sealed bidding and the deadline for bids is on May 12, 2023. Details below.

Sorry for the short notice

I’m really sorry for the short notice. With the May 12 deadline for bids, it means we all have barely 2 days to do proper due diligence.

FYI, I checked Unionbank’s website yesterday, May 9, at 5:59am and the list they have was still for the May 5 bidding.

Upon checking later that night, it was updated with the May 12 listing. However, I couldn’t work on it anymore as it was already too late. Because of health reasons, it is critical that I get enough sleep.

Anyway, I really want to ask them why they upload the new schedules like this, and I hope they will upload sooner, ideally at least 1 month in advance just like before the pandemic.

Learn more about Unionbank’s “Acquired Properties”

Here’s a short video about Unionbank foreclosed properties:

View Unionbank Foreclosed Properties (Database)

For easy searching/filtering, I uploaded the list of Unionbank foreclosed properties inside our foreclosed real estate database.

==> View searchable list of Unionbank Foreclosed Properties (Database)

If you prefer to download the list in PDF format, see below.

View/download Unionbank foreclosed properties list for sealed bidding

Here’s a copy of the listing in PDF format:

==> View/download Unionbank Foreclosed Properties List (PDF)

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.

Does UnionBank require credit checking?

Since the payment terms is cash basis only (as stated in the bidding guidelines), then I don’t believe credit checking is required.

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:

Payment terms: Cash basis only?

It appears the only payment term available for this sealed bidding is cash basis only because it is the only mode of payment inside the bidding rules. See Bidding Rules and Regulations for more details.

The good news is, cash buyers will get a 5% discount as indicated in the bidding rules (see below for more details).

Contact Info for UNIONBANK ASSET RECOVERY GROUP

For more info, please call UnionBank DIRECTLY through the following:

  • JP: 09178241494
  • GAB: 09178232188
  • MC: 09178600875
  • MAE: 09951649727

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: May 12, 2023 (Friday, 5:00 PM)
  • How to submit bids: Submit online via email: ARGMarketing@unionbankph.com

“PLEASE SUBMIT YOUR ACCOMPLISHED BIDDING FORMS, BIDDING RULES, AND VALIDATED DEPOSIT SLIP VIA EMAIL: ARGMARKETING@UNIONBANKPH.COM NOT LATER THAN May 12, 2023 (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.

  • 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:

  1. Signed Bid Form
  2. Signed Bidding Rules + all listed requirements (see Annex A of Bidding Rules and Regulations)
  3. 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):

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. Prospective buyers are enjoined to conduct due diligence on the physical (which include condo/HOA dues, and utility bills, if any) condition of the property. As such, the seller makes no warranty as to the boundaries and technical description of the property and as to its legal condition such as the existence of any claims, liens suits or action involving the same property.

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

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About Jay Castillo
People encounter problems and make mistakes when buying foreclosed properties, and Jay wants to help people avoid those problems/ mistakes. Jay encountered a lot of those, which is why he started this blog in 2008 to serve as a guide where he shares lessons learned, and how to overcome challenges you may encounter when investing foreclosed properties in the Philippines … [Read more]
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31 thoughts on “500+ UnionBank Foreclosed Properties in May 12, 2023 Sealed Bidding”

  1. 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.

    Reply
  2. 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.

    Reply
  3. 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!

    Reply
    • 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.

      Reply
  4. 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!

    Reply
    • 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.

      Reply
  5. 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?

    Reply
    • 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. 🙂

      Reply
      • 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

        Reply
    • 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.

      Reply
      • 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?

        Reply
        • 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.

          Reply
  6. 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

    Reply
  7. 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.

    Reply
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