UnionBank repossessed properties for auction on September 12, 2009

UnionBank shall be having its 143rd public auction of bank repossessed properties on September 12, 2009, Saturday, 9:00 AM. Venue shall be the Delas Alas Room at the 2nd floor of the Philippine Columbian Sports Club, Plaza Dilao, Paco, Manila, Philippines.

The repossessed properties for auction include residential and commercial foreclosed properties. The  locations of these properties as follows:

Residential foreclosed properties


  • Quezon City
  • Calamba, Laguna
  • San Juan
  • Mandaluyong
  • Las Pinas
  • Paranaque
  • Makati
  • Manila
  • Caloocan
  • Pasay
  • Batangas City
  • Calatagan, Batangas
  • Nasugbu, Batangas
  • Laurel Batangas
  • Bulacan
  • Antipolo
  • Tagaytay
  • Dasmarinas, Cavite

Commercial / Agricultural forclosed properties

  • Quezon City
  • Paranaque
  • Lian, Batangas
  • Lipa, Batangas
  • Antipolo
  • Pasig – Ortigas Center
  • One Magnificent Mile Condo (OMM-Citra)
  • Makati
  • Meycauayan, Bulacan

The complete listing of repossessed properties for auction

Click here to download the complete listing of UnionBank repossessed properties for auction on Septemeber 12, 2009.

(Source: Manila Bulletin, September 6, 2009, Page G-1)

What to bring to the auction

Just bring Php 20,000 show money (cash or manager’s check) to qualify to bid for each property. Of course, prior to bidding on any of the repossessed properties from UnionBank, you should have already done your due diligence.

Credit Terms

  • Minimum Downpayment: 10%
  • Interest: 13% per annum (p.a.) fixed for the first 3 years and 15% p.a. fixed for the next 12 years
  • Term: 15 yrs. (maximum) through in-house guaranteed financing for residential properties

For more details, please contact any of the following:

  • Kim: Tel # 637-1445, Mobile # 0922-3766505
  • Doris: Tel # 638-0125
  • Junie: Tel # 638-0114
  • Dong: Tel # 638-0092
  • Trunkline: # 667-6388 locals 8372, 8358, 8352, and 8348

E-mail: esbabas@unionbankph.com

You may also visit UnionBank’s website:

The fine print

  • Creditable Withholding Tax (CWT) is for the buyer’s account
  • All properties for sale are on an “AS IS WHERE IS” basis
  • UnionBank may, at any time, withdraw any of the properties listed above prior to the auction.

How much would be the monthly amortization?

To give you an idea on the monthly amortization, I’ll use property #4 on the list to come up with a sample computation.

This particular property for auction has the following information available

Sample Property Banlat Road

    • Minimum Bid Price (MBP) = Php1,670,000
    • Downpayment (DP) = 10% x MBP = Php167,000
    • The balance therefore is = MBP – DP = Php1, 503,000
    • I’ll use the maximum payment term of 15 years
    • Interest rate for years 1 to 3 =  13% per annum
    • Interest rate for years 4 to 15 = 15% per annum

Using this site’s real estate mortgage calculator (available under “REAL ESTATE INVESTING TOOLS AND USEFUL LINKS” at the right sidebar) the monthly amortization for the first 3 years would be Php19,016.58.

Monthly payments for the first 3 years

Getting the monthly amortization for the next 12 years is a bit complicated as I had to compute for the principal at the end of the third year which turned out to be Php1,383.401.76. I then applied the annual interest rate of 15% for the remaining 12 years. The monthly amortization for years 4 to 15 would be Php20, 763.00. This is assuming that they will use the diminished balance like I did. Anyway,  just leave a comment below if you are interested in learning how I arrived at these values.

How about the market value?

If you want a sample computation for property valuation for the sample property above, I would appreciate it if anyone out there can share the average price per square meter of lots in the Tandang Sora area, particularly in Banlat road. I would then be able to make an estimate for the market value of of the property using the cost approach as described in my article on How I Estimate Market Values Of Foreclosed Properties. I have been very curious about the foreclosed properties located in Tandang Sora, particularly in Banlat road, but have never actually inspected any properties there.

Happy Hunting!


To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
Social Network: http://foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor@gmail.com

Text by Jay Castillo. Copyright © 2009 All rights reserved.

P.S. – If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

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9 thoughts on “UnionBank repossessed properties for auction on September 12, 2009”

  1. hi jay good day…ask ko lang po if you have any information of forclosed properties in 6th avenue grace park caloocan? thanks in advance…your website is very useful and very interesting…i’m very happy i found this site…

    1. Hi Ann, sorry but I have not noticed any property in 6th Avenue Grace park recently, not really focused on that area. Thanks for finding this site as useful, really appreciate it!

  2. Hi Jay,

    A pleasant day to you!
    I just would like to know on how did you arrive at Php1,383,401.76 amount, at the end of 3 years and at 12% interest rate based on your example. Also, using Real Estate Calculator, should we use 13% as the interest rate for the first 3 years or 12% only as per given example? I am planning to buy a property and the developer is offering me almost the same term and interest rates. I think this is the market trend nowadays, before I used to pay only a fixed interest rate for the rest of my loan term.

    I’m looking forward to your reply soon. Thank you very much, and more power to you.

    Best regards,

    1. Hi Sixto,

      Good day to you as well! Sorry I made a typo error on my example, should have used 13% and I have corrected it already. Anyway, I arrived at those amounts based on the amortization table I created for the example just to confirm the accuracy of the mortgage calculator. You can download a copy of the amortization table here. The first tab is for the first 3 years and the second tab is for years 4 to 12.

      Good luck on your purchase and let me know if you have questions about the excel sheet. Thanks for visiting!

      1. Hi Jay,

        I was so busy for the past weeks that I almost forget to thank you about the Amortization Table I was requested. I find it so helpful in buying a property with multiple loan rates scheme.

        Once again, thank you and God Bless.


  3. hi,

    thanks po sa mga advices. balitaan dn po kita kung sakaling maging ok ung proposal ko sa unionbank. one thing for sure is i’ll be calling you if i need po advices (sana pwde maulit). thanks.


    1. Hi Mark, You’re welcome and thank you also for sharing info about Banlat road. Never knew the location was not that ideal due to the surrounding area having lots of informal settlers. Just let me know if you need more advice. Goodluck!

  4. Hi Sir Jay,

    The zonal value of lots at Banlat Rd is about Php 7k to 10k. Can you continue with the calculation using this data?

    1. Hi Jem, hmmm… zonal value does not really provide an accurate estimate of the market value/price of a property. Anyway, i will also do some searching for comparative prices from sulit.com.ph, craigslist, and OLX… will post an analysis later. By the way, no need for “Sir” hehe!

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