10,664 Foreclosed Properties in Bank of Commerce Q3 2024 Nationwide Listings

July 17, 2024 – A total of 10,664 foreclosed properties from Bank of Commerce are available for negotiated sale in their latest batch of pricelists as of July 3, 2024 (3rd Quarter). Details below.

Update Summary

The updated listings include foreclosed real estate from Metro Manila, Luzon, Visayas, and Mindanao areas. It also has a big list of memorial lots in provincial areas.

View all Bank of Commerce foreclosed properties (searchable database)

For easy searching and filtering, all the pricelists have been uploaded to our foreclosed real estate database. Use the button/link below to view.

==> Click to view list with all Bank of Commerce Foreclosed Properties

View/download the listings per geographical region

*The pricelists above replaces all previous listings from Bank of Commerce that we have shared in the past here at ForeclosurePhilippines.com

Please take note of properties with no price (for re-appraisal) and “special concerns”

Please take note that quite a number of properties have no price (they will appear as “Read More” in my foreclosed real estate database) and the remarks state they are “For re-appraisal”.

You should call Bank of Commerce DIRECTLY to ask for the selling price if it is already available.

Also, some properties from Bank of Commerce have the following statuses or “special concerns” as follows:

* No Possession
** With pending case
*** Under redemption

“No Possession” means the property either has illegal occupants or the property is locked and the bank is unable to enter and take over the possession (Properties that are classified as “No possession” can be easily excluded when searching our database, more on this below).

“With pending case” means a court case is ongoing (usually between the bank and the former owner) and the buyer will take over the case from the bank.

“Under redemption” means a property is still within redemption period and the former owner can still get the property back by redeeming it. To learn more about the redemption period, visit this page at BATASnatin.com

As always, we do not recommend buying foreclosed properties that have illegal occupants and/or have pending court cases.

• Recommended reading: Why we don’t recommend buying occupied foreclosed properties (even if they are cheap)

Exclude properties with zero prices, no possession

Here are quick links to exclude properties with zero prices and no possession/occupied:

==> Click here to exclude all properties that have zero prices (those for re-appraisal)

==> Click here to exclude all properties that have issues (those that have illegal occupants/bank has no possession)

Listing details and important reminders

The foreclosed properties from Bank of Commerce are for negotiated sale, no need to go through a public auction.

This means that interested parties only need to submit their offers. There will only be a bidding if a property receives multiple offers.

More details can be found in the following reminders from the Acquired Assets Management Department (AAMD) of Bank of Commerce below.

IMPORTANT REMINDERS:

1) All sales on “AS-IS, WHERE-IS” and “NO RECOURSE” bases. No warranties.

2) Prices NOT applicable to buybacks by former owners. Please contact Acquired Assets Management Department for buyback price.

3) Properties & prices subject to change anytime & may be removed from the list for any reason Top Management deems appropriate.

4) The list may reflect properties sold without the knowledge of AAMD. For immediate correction, kindly advise AAMD of such fact if identified.

5) If multiple offers are received for the same property, a bidding shall be conducted and the property shall be awarded to the highest bidder.

6) Mere submission of an Offer to Purchase does not confer “first option” or “first right” to the offeror.

7) The deficiencies stated herein are not meant to be exhaustive, comprehensive or complete. Buyers are advised to conduct their own due diligence prior to making an offer.

8) The Bank only shoulders Creditable Withholding Tax up to purchase price. Excess CWT are for buyer’s account.

9) This list is an intellectual property of Bank of Commerce. However, Bank of Commerce is not in anyway liable if this shall be copied, reproduced, altered and/or tampered for any activities other than the purpose of marketing properties contained in it.

10) No application fee is required.

11) Bid Offer should be labeled as “Bids and Awards Committee – Bank Property Bid” and be addressed to:

Bids and Awards Committee Secretariat
Finance and Controllership Group
12th floor SMPC Bldg., Ortigas Center
c/o Maritess C. Claveria

I would like to emphasize what was mentioned in the reminder that the list might contain properties that are already sold since the list is updated quarterly, and these foreclosed properties are offered to the public through various channels.

So if you are interested in any property, you should first check the availability with the bank to avoid wasting time.

Please be patient when waiting for updates regarding your offers

I remember I assisted a friend of mine when he made an offer for one of the properties from Bank of Commerce (I was still active as a real estate broker back then).

After around 6 months of consistent follow-up, we almost gave up and thought our offer was not approved.

However, we were pleasantly surprised when we got notified that my friend’s offer was approved!

We were able to complete that transaction successfully… patience is key!

However, I would advice that you consistently follow-up, just like what we did. 🙂

Bank of Commerce Contact Details

For inquiries, please refer to contact details below, depending on the location of your target properties:

Source: Bank of Commerce website

Happy hunting!