Sterling Bank of Asia invites everyone to participate in the sealed bidding of their repossessed real estate properties for sale for the month of October 2011. The complete listing can be seen below. Last day for the submission of bids shall be on October 27, 2011, 3:00 pm. The prices quoted below shall be valid only up to the last day of the submission of bids.
Please refer to the bidding rules and guidelines after the list of repossessed real estate properties below.
INVITATION TO BID
“As is where is”
as of October 2011
Sterling Bank of Asia is inviting everyone to submit sealed bids for the following repossessed real estate properties:
|
Property Type |
Location |
Landmarks |
Lot Area |
Total Floor Area |
Minimum Bid Price/Floor Price | |
|
1 |
Residential Lot w/ 2-storey Improvement |
421 Orbit St., cor. Atlas St., Aero Park Subd., Better Living, Parañaque City |
5 minutes away from SM Bicutan and Bicutan Interchange, 10 minutes to the Airport |
1,046sqm |
452.24sqm. |
PhP11,700,000.00 |
|
2 |
Residential Lot w/ 2-storey Improvement |
No. 40 Lot 3 Multinational Ave., Multinational Village, Brgy. La Huerta, Parañaque City |
Less than a KM away from Ninoy Aquino International Airport Terminal 1 |
700sqm |
315.66sqm |
PhP8,900,000.00 |
|
3 |
Residential Lot w/ 2-storey Improvement |
#40 Gng. Regina Lirag St., BF Homes Phase 1, Pque. City |
Near entrance of BF Homes at Presidents Ave., Starbucks BF Presidents Ave. |
280sqm |
266sqm |
PhP8,700,000.00 |
|
4 |
Residential Lot w/ 2-storey Improvement |
Blk 5 Lot 16 Champaca St., El Vinda Subd., Brgy. San Vicente, San Pedro, Laguna |
10 minutes away from San Pedro Municipal Hall and Divine Mercy Hospital |
318sqm |
382sqm |
PhP6,400,000.00 |
|
5 |
Residential Vacant Lot |
Lot 5 Multinational Ave., Multinational Village, Brgy. La Huerta, Parañaque City |
Less than a KM away from Ninoy Aquino International Airport Terminal 1 |
700sqm |
N/A |
PhP6,300,000.00 |
|
6 |
Residential Vacant Lot |
Lot 7 Multinational Ave., Multinational Village, Brgy. La Huerta, Parañaque City |
Less than a KM away from Ninoy Aquino International Airport Terminal 1 |
700sqm |
N/A |
PhP6,300,000.00 |
|
7 |
Residential Lot w/ 2-storey Improvement |
Block 2 Lot 13 St. Francis Homes I, Brgy. San Francisco, Biñan, Laguna |
5 minutes away from Southwoods exit at SLEX |
232sqm |
320sqm |
PhP5,000,000.00 |
|
8 |
Two Adjacent Lot used as Private resort |
Lots 5-A & 5-B Road Lot 2 Baltao Subd., Brgy. Sta. Cruz, Antipolo City, Rizal |
A 10 minute walk from the famous Hinulugang Taktak Falls, less than a KM from the Antipolo Church |
442sqm |
278sqm |
PhP4,230,000.00 |
|
9 |
Residential Lot w/ 1-storey Improvement |
No. 8 Umber St., SSS Village II, Brgy. Concepcion II, Marikina |
Near SSS Village Elementary School, St. Paul of the Cross Church and Manila Water (SSS Village) |
410sqm |
200sqm |
PhP2,900,000.00 |
|
10 |
Residential Lot w/ 1-storey Improvement |
Blk 4 Lot 20 Mars St., Harmony Homes Subd., Brgy. San Vicente, San Pedro, Laguna |
Near Our Lady of Assumption School, Mater Ecclesia School and Adelina Complex |
150sqm |
120sqm |
PhP2,300,000.00 |
INVITATION’S RULES AND GUIDELINES:
- This invitation is open to the public.
- THE INDICATED PRICES ARE ONLY VALID UNTIL OCTOBER 27, 2011.
- The assets are offered on an “as is, where is” basis, thus, prospective buyers are advised to personally visit, inspect and verify them and their pertaining document/s of ownership to ascertain their actual condition and status.
- The Bank is presently consolidating the assets’ documents of ownership to its name.
- Visits to the property, photocopies of the ownership documents, pictures and vicinity maps can be coordinated with the personnel of Acquired Assets Management Department, specifically Resnel (0917-878-65-40 or 0922-851-80-70) or Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-217-6780). They may also be reached through [email protected].
- The indicated floor prices are the minimum bid prices, thus, any bid below the floor price would automatically be disqualified.
- All interested parties may submit their bids in sealed envelopes to the Office of the Audit Group Head, 2nd Flr. Sterling Bank of Asia Corporate Center, Ortigas Ave., Greenhills, San Juan.
- All bids must be submitted in the prescribed bid form and must be accompanied by a deposit in the form of a check payable to Sterling Bank of Asia amounting to PhP 50,000 or 10% of the bid price, whichever is lower. It would form part of the purchase price in case the bidder wins. In the case of a losing bid, it would be returned to the bidder.
- The last day of submission of bids shall be on Thursday, October 27, 2011, 3:00 p.m. The prices quoted above shall be valid only up to the last day of submission.
- The bids would be opened and evaluated by the Office of the Internal Audit Head together with a representative from acquired assets mgt. dept. on the next banking day following the last day of submission. The properties shall be awarded to the highest bidder. In the event of a tie, the same shall be settled by the drawing of lots.
- Sterling Bank reserves the right to reject any or all bids, to waive any formality therein and to accept the bid most advantageous to the Bank. The decision of Sterling Bank would also be final and binding.
- Winning bidders would be notified by Acquired Assets Mgt. Dept. after the results of the bidding are approved by the Bank’s management. Notified winners would have ten (10) working days from receipt of notice to complete the purchase price either in cash or through an approval for a real estate loan facility from Sterling Bank. Failure to fully settle the bid price within the prescribed 10 working day period shall revoke the winning bidder’s right to purchase the subject property and forfeit his/her bid deposit in favor of the Bank.
- Losing bidding participants would also be notified of the results the following day after the Bank’s approval of the bidding results. Bid deposit checks of the losing bidders can be claimed upon receipt of notice at Acquired Assets Management Department 26th floorWynsumCorporatePlaza,F. Ortigas Jr. Ave. (formerlyEmerald Ave.),OrtigasCenter,PasigCity.
- Upon full settlement of the winning bid price or purchase price, the Bank would execute a Deed of Sale in favor of the winning bidder and release all pertinent documents of the property within five (5) working days subject to the documentary requirements of the Bank. The capital gains tax on the sale shall be shouldered by the Bank while the other taxes, fees and expenses necessary for the transfer of ownership to the winning bidder or buyer shall be for the account of the buyer.
- The subject property would be turned over to the winning bidder or buyer upon full payment of the winning bid and completion of the Bank’s documentary requirements on the sale.
- For further inquiries, you may call Resnel (0917-878-65-40 or 0922-851-80-70) or Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-217-6780). They may also be reached through [email protected].
Official bid form: Sterling Bank Bid Form for Real Estate Properties with broker’s name
Happy hunting!
~~~
To our success and financial freedom!
Jay Castillo
Real Estate Investor
PRC Real Estate Broker License No. 3194
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2011 All rights reserved.
Full disclosure: Nothing to disclose.
