I have here a new foreclosure listing from Unionbank for another run of their Special Public Auction of foreclosed properties on April 18, 2009, Saturday, 9:00am, at the Delas Alas Room, 2nd floor, Philippine Columbian Sports Club, Plaza Dilao, Paco, Manila, Philippines. This is their 135th public auction of foreclosed properties and their 4th for 2009. As I have mentioned in my previous posts about Unionbank, I notice that they hold their public auctions of foreclosed properties every month.
Here’s a Tip: After each auction, unsold properties are available for negotiated sale until the next public auction schedule is announced. This means interested parties have a small window of opportunity to submit offers below the minimum bid price.
Foreclosed properties up for sale are from Manila, Makati, Antipolo, San Juan, Mandaluyong, Las Pinas, Paranaque, Caloocan, Pasay, Bulacan, Cavite, Tagaytay, Rizal, Laguna, Pampanga, Batangas, Pasig, Quezon City, Valenzuela, and Nueva Ecija.
Image by niallkennedy via Flickr
For more details on the bank foreclosed properties included in this public auction, download the Unionbank Special Public Auction Listing for April 18, 2009 here!
Only 10% Down payment is required and payment terms can be as long as 15 years.
Interest rates are at 13% per annum fixed for the first 3 years, and 15% per annum fixed for the next 12 years.
If you are interested, only Php20,000 show money is required (cash or manager’s check) to qualify to bid for each property. This is cheaper than other banks which normally require Php25,000 show money.
Do take note that CWT is for the account of the buyer. You can read more about CWT in my previous post about Creditable Withholding Tax.
Do take note that all properties are for sale on an “AS IS WHERE IS” basis.
You may also visit Unionbank’s website though I have just checked and found out that it is still under maintenance. Only God knows when they will have it fixed.
Happy Investing to all!