This is the next part of my series on foreclosed property listings that I was able to get when I attended the 4th Philipippine Real Estate Festival and this installment features PNB foreclosed properties for public auction.
The Philippine National Bank – Special Assets Management Sector (PNB-SAMS) shall be having a property auction on August 26, 2010, Thursday, 2:00pm, at the A. Venue Hotel Suites, Via Veneto Hall, 7829 Makati Avenue, Makati City (Across Aberdeen Court – Great Eastern Hotel). More details after the jump.
Foreclosed properties for public auction
The foreclosed properties for public auction are from the National Capital Region, specifically properties from Metro Manila, Bulacan, Cavite, Laguna, Rizal, and Quezon.
A big number of properties from Rizal are from Village East II and III, which are located in Angono and Binangonan, Rizal.
Properties from Cavite include a significant number from Riviera Golf and Country Club, which is in Brgy. Biluso, Silang, Cavite.
Auction terms
Winning bidders can enjoy up to 35% discount*, as low as 8% interest rate*, and payment terms of up to 10 years. Please take note that installment buyers are required to bring proof of income (ITR, certificate of Employment, Bank Statement, etc.).
To participate in this auction, interested parties must bring Php25,000.00 in cash or managers check as deposit. No deposit, no participation.
Purchase proposals submitted prior to the auction will be treated as VALID BIDS. Submission must be to PNB Special Assets Management Head Office-Manila until August 20, 2010 at 3pm.
*rates may vary according to the market value of property
Download the foreclosed property listings
The complete listings of foreclosed properties can be downloaded below. (Note: Right-click the links below then click “Save as…” to download the files. To open PDF files, you need to have a free PDF reader like Foxit PDF Reader, or Adobe Reader version 9.0 or higher installed on your computer. Listings in JPG format are also available below. Remember, PDF files are searchable while JPG files are not)
Click here for the PNB NCR properties for auction in PDF format or click on the image below for JPG format.
Click here for the PNB Village East II and III properties for auction in PDF format or click on the image below for JPG format(zipped).
Click here for the PNB Riviera Golf and Country Club properties for auction in PDF format or click on the image below for JPG format(zipped).
Checkout these tips before the auction:
- Check auction flyers and advertisements in major national and local newspapers (or https://www.foreclosurephilippines.com) for more details.
- If you are interested in one of the PNB’s properties, please contact our Regional Asset Management Centers (RAMCs) and/or our Customer Service Desk for more information attel. nos. (02) 526-3131 & 891-6040 locals 4115, 4713, and 4539, (0917) 507-8385 or e-mail at [email protected].
- We recommend that you inspect the property of interest before the auction event, as properties are sold on an “as is where is” basis. Coordinate with our AMS Sales Account Officers on the schedule of your visit.
- Prepare Php25,000.00 as show money. Special Power of Attorney is required for buyer’s representative.
Source: PNB Website
The fine print
Auctioneer reserves the right at anytime to pull out or update status of the properties in the event discrepancies are found.
Properties for sale are on an “AS IS WHERE IS BASIS”. Prices are subject to change without prior notice.
Inadvertent misprints shall not alter the property’s factual condition or shall they be deemed as a misrepresentation of the property.
PNB TOP Picks Issue No. 1
Aside from the list of foreclosed properties for public auction on August 26, I was also able to get a copy of the PNB TOP Picks Issue No. 1 which features pre-owned properties for sale located nationwide.
Click here to download the PNB TOP picks issue No. 1 in PDF format or click the image below to download a copy in JPG format(zipped).
Money Making Opportunities: Selling Bank Foreclosed Properties from PNB
Yes, we can make money by selling bank foreclosed properties from PNB, and we can do this either as a Licensed Broker or as a Referrer. My friend Eleazar a.k.a. Bizmind of EntrePinoy Bank wrote an article about the accreditation requirements and you can check them out here.
I bumped into Eleazar at PNB’s booth at the 4th Philippines Real Estate Festival and it was a pleasure to see Eleazar again. We first met during the Money Summit and Wealth Expo 2010.
See you at next year’s Philippine Real Estate Festival 2011!
Happy hunting and earning!
To our success and financial freedom!
Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: https://www.foreclosurephilippines.com
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Text by Jay Castillo and Cherry Castillo. Copyright © 2010 All rights reserved.
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Hi Jay,
With regards to Tips before Auction sa No. 3, i called PNB if can personaly get inside to one of my interested properties but they declined and instead they said “as is where is” daw. Also, i noticed they have inconsistent for the information they are feeding to interested buyer one of my friend called they said meron “Pending Case” sabi nun guys na yun at pero i tried call to another girl said wala naman daw sa same property. Paano kaya ito worried kami kung sino ang totoo.
Sir may nakita ako sa foreclosed property nila na I want to acquire as an investment. kaso mahal indicative price nila. bale dalwa po yun, one is with squatter occupants but mas malaki yung area, yung isa ay
clean title tapos walang occupants. What is the best choice dito sa dalawa?
Isa pa po, pano makipag negotiate sa price nun?mga ilang percent pwede itawad para po magka idea sana ako. Dati pa po sa bahay bonanza na foreclosed property ito sa may benguet. Please help me.
Jay, thanks for giving me space in your post. It’s a pleasure to meet you again at the 4th Philippines Real Estate Festival. I see the smile of an online entrepinoy. 🙂
Hi Jay,
What does “as is” basis means in the PNB auction? Does it mean, it may have informal settler’s? still in a legal dispute? zonal issues? etc?
Hi Victor,
“As is, where is” generally means the buyer agrees to purchase the property at its present physical condition including but not limited to any problems or legal issues the property may have, and they may include any of the examples you mentioned, or none.
Best practice is for the buyer to thoroughly inspect the property and check for any lis pendens, annotations, etc., on the TCT plus trace-back plus any arrears on taxes, dues, etc. that maybe for the account of the buyer, along with any other issues present.
I also highly recommended for one to check the auction guidelines as well on how the term “as is, where is” is defined by the bank conducting the auction.