Have you heard about Pag IBIG Foreclosed Properties?
Are you planning to purchase a house and lot or a condominium unit?
Do you know that you can avail of real estate properties at a much cheaper and affordable price through the Pag IBIG Fund Foreclosed Properties offerings?
Well, you read it right!
Previously owned properties that were not completely paid are being offered by the Pag IBIG Fund and you can take advantage of these offers.
All you have to do is attend the public auction of these Pag IBIG Foreclosed Properties or Acquired Assets.
Pag IBIG Foreclosed Properties in NCR
For October 2019, the Pag IBIG Fund will hold a public auction of Pag IBIG Foreclosed Properties in NCR on:
- October 29, 2019 – Cavite Foreclosed Properties
- October 30, 2019 – Batangas, Laguna, Bulacan, Rizal, and Metro Manila
A total of 244 Pag IBIG Foreclosed Properties will be available for sale.
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.
Watch this video to know the requirements and steps in buying Pag IBIG Foreclosed Properties.
How to Join the Bidding of Pag IBIG Foreclosed Properties
- 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.
- Fill out the Offer to Bid and sign it.
- 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.
- 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.
- Proceed to 7th Flr. Conference Room, JELP Business Solutions Center, Shaw Boulevard, Mandaluyong City where the public bidding will be conducted.
- Sign the Attendance Sheet during the sealed public bidding.
What you need to know when joining Public Auctions
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.
Watch this video to know How to Find Pag IBIG Acquired Assets Online in Pag IBIG Fund Website.
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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