Pag-IBIG Foreclosed Properties – October 2018

The Pag-IBIG Fund will hold public auctions of foreclosed properties and acquired assets for the month of October 2018 in NCR and other provinces.

If you want to attend the public auction of foreclosed properties with discount in the National Capital Region (NCR), prepare yourself and the required documents and cash.

The public auction will be held at the Roofdeck, JELP Business Solutions Center, 409 Shaw Blvd. Mandaluyong City.

Foreclosed Properties in NCR (With Discount)

The public auction of Pag-IBIG foreclosed properties in NCR with discount, will be held on October 24, 2018 at the Pag-IBIG Fund Pasay Members Services Branch 2nd Floor (Training Room) Roxas Strip Building, Libertad cor. Roxas Boulevard, Pasay City.

A total of 741 foreclosed properties will be available for sale. This includes properties located in Metro Manila, Cavite, Laguna, Batangas, Bulacan, and Rizal.

Foreclosed properties include condo units, lots, single detached and attached houses, townhouses, duplex, quadruplex, and row houses that are available for bidding at the public auction of Pag-IBIG Fund on Oct. 24.

How to Join the Bidding of Foreclosed Properties at Pag-IBIG

  1. For Sealed Public Bidding, you need to secure 2 copies of the Offer to Bid from the Marketing and Sales-Acquired Assets Management at the 7th Flr. JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City.
  2. Fill out the Offer to Bid and sign it.
  3. In an envelope, insert the accomplished Offer to Bid it along with the bidder’s bond, and don’t forget to seal it. The bidder’s bond or deposit will serve as the winning bidder’s downpayment. Non-winning bidders will have their bidder’s bond returned to them, without interest, upon completion of the public bidding.
  4. Submit the sealed envelope at 7th Flr. Conference Room, JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City from 9:00 AM to 12:00 NN of the scheduled date for sealed public bidding.
  5. Proceed to 7th Flr. Conference Room, JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City where the public bidding will be conducted.
  6. Sign the Attendance Sheet during the sealed public bidding.

Schedule of Public Auctions of Properties Without Discount

In NCR, the public auction of undiscounted properties will be held on October 10 and 11 at the same venue.

  • 230 foreclosed properties in Cavite Area on Oct. 10
  • 330 foreclosed properties in Metro Manila, Batangas, Bulacan, Laguna, and Rizal on Oct. 11

In Tuguegarao Branch, 33 foreclosed properties will be available for auction on October 3, 2017, at the 3rd floor, Conference Room, Editha Tuddao Building, Balzain Highway, Tuguegarao City, Cagayan.

pagibig-housing-loan

What you need to know when joining Public Auctions Foreclosed Properties

There are many available foreclosed properties at the Pag-IBIG Fund that they offer at a much affordable price through a public auction.

However, you have to note that these properties shall be sold on an “AS IS, WHERE IS” basis, which means, that you have to deal with the current condition of the property if you wish to purchase it and if you win in the bidding.

If the property is currently occupied or the the previous owners are still residing there, it will be your responsibility to make them move out or leave the property.

And it’s not always easy to do that. In some cases, new owners are paying the property but are unable to move in yet because the previous owners refuse to leave the place. That’s why it’s highly advisable that you inspect or visit the property before you submit your bid offer so that you’re fully aware of its current condition or if there are still occupants in the property.

Each bid proposal shall be accompanied by a BIDDER’S BOND either in CASH or MANAGER’S CHECK issued by any
commercial bank, in Philippine Currency, payable to Pag-IBIG Fund for an amount equivalent to 10% of the BID PRICE.

You need to prepare the required amount for the bidder’s bond for you to have a higher chance of winning in the bidding especially if you really like the property.

The payment of the remaining 90% bid offer balance may be paid thru CASH, Short-term installment basis, or Long-term installment basis.

How to Contact Pag-IBIG Fund

For more information about the public auctions of Pag-IBIG Fund acquired assets and foreclosed properties this October, you may visit the Pag-IBIG website.

You may also send your inquiries to aad_ms@pagibigfund.gov.ph or call  (02) 654-9244 or visit the nearest Pag-IBIG Fund Branch.

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