Sterling Bank of Asia repossessed vehicles for sale on August 11, 2011

Sterling Bank of Asia invites interested parties to bid for their repossessed vehicles for sale on an “As is where is” basis. The deadline for submission of sealed bids will be on Thursday, August 11, 2011, 3:00pm. I would like to acknowledge and give thanks to Junie Jamero  for sending us this invitation to bid. Junie is also from the Acquired Assets Mgmt. Department of Sterling Bank of Asia. Please continue reading to see the complete list of repossessed cars for sale, bidding guidelines, and pictures of the vehicles.

INVITATION TO BID

“As is where is”

As of July 29, 2011

Sterling Bank of Asia is inviting everyone to submit sealed bids for the following repossessed vehicles:

Stored in Bagong Barrio, Caloocan City
	Make	Year Model	Color	Plate No.	Mileage	Minimum Bid Price
1	BMW 116i A/T Gas	2010	White	no plate	5,025	1,517,000.00
2	Chevrolet Captiva A/T Diesel	2009	Silver	YHZ 722	12,235	1,036,000.00
3	Chevrolet Trailblazer A/T Gas	2005	Black	HDK-888	53,150	662,000.00
4	Hyundai Tucson A/T Gas	2009	Blue	NOI-938	32,813	747,000.00
5	Isuzu Alterra A/T Diesel	2010	Black	NOG-355	17,409	1,128,000.00
6	Isuzu Dmax LS 4×2 M/T Diesel	2010	Black	LGR 388	18,941	910,000.00
7	Isuzu Sportivo M/T Diesel	2010	Red	YJV 931	4,870	964,000.00
8	Kia Soul A/T Gas	2010	Black	YHN-955	7,272	975,000.00
9	Mazda Tribute 2.3L A/T Gas	2008	Black	YGY-199	29,461	812,000.00
10	Mazda 3 1.6L A/T Gas	2009	Black	NBO-118	17,971	530,000.00
11	Mitsubishi Lancer EX GT M/T Gas	2009	Black	NKQ-942	13,310	895,000.00
12	Mitsubishi Lancer EX GLX M/T Gas	2010	White	PQQ-954	6,934	777,000.00
13	Mitsubishi Lancer EX GLX M/T Gas	2010	Beige	PHO-702	8,077	760,000.00
14	Nissan X-trail A/T Gas	2008	Black	ZME-531	70,865	637,000.00
Stored in Sterling Bank Caloocan Branch
	Make	Year Model	Color	Plate No.	Mileage	Minimum Bid Price
15	Chevrolet Aveo M/T Gas	2010	Silver	FGX 232	5,212	534,000.00
16	Ford Everest A/T Diesel	2007	Black	ZLE-751	67,664	774,000.00
17	Ford Focus Hatchback 1.8L A/T Gas	2008	Black	ZNP 400	77,688	526,000.00
18	Honda Civic Vti M/T Gas	2004	White	GTY-673	95,830	338,000.00
19	Hyundai Getz M/T Gas	2010	Silver	PHO-983	2,353	420,000.00
20	Hyundai Getz M/T Gas	2010	Black	PHO-437	17,141	416,000.00
21	Hyundai i10 Gold A/T Gas	2010	Black	PXQ-588	9,990	515,000.00
22	Hyundai i10 GLS 1.2L A/T Gas	2010	Gold	PGQ-627	14,257	428,000.00
23	Hyundai i10 GLS 1.2L A/T Gas	2009	Silver	NTI-433	22,218	400,000.00
24	Hyundai i10 A/T Gas	2009	Gold	NQI-675	57,577	377,000.00
25	Hyundai Sta Fe CRDi A/T Diesel	2008	White	7C1289D	37,634	865,000.00
26	Hyundai Tucson CRDi A/T Diesel	2009	Silver	NHI-744	9,800	813,000.00
27	Hyundai Tucson A/T Gas	2009	Black	NVO-908	54,808	746,000.00
28	Kia Carens A/T Diesel	2008	Black	YHN 706	15,234	800,000.00
29	Kia Rio A/T Gas	2010	Gray	YJG-236	26	560,000.00
30	Kia Rio M/T Gas	2010	White	YHS-481	7,006	550,000.00
31	Kia Rio M/T Gas	2010	White	FGX 234	35,170	500,000.00
32	Kia Rio M/T Gas	2009	Red	ZTT-240	15,960	542,000.00
33	Mazda 3 1.6L A/T Gas	2010	White	YJQ 205	3,031	694,000.00
34	Mazda 3 1.6L A/T Gas	2009	Red	YGP-316	18,854	626,000.00
35	Mazda 3 1.6L A/T Gas	2007	Red	ZNJ-468	64,954	455,000.00
36	Mazda 3 1.6L A/T Gas	2006	Red	ZGK-628	25,308	380,000.00
37	Mitsubishi Adventure GX M/T Diesel	2009	Red	NUI-712	78,164	560,000.00
38	Mitsubishi Fuzion GLX A/T Gas	2008	Silver	NQI-836	24,588	680,000.00
39	Ssangyong Stavic A/T Diesel	2009	Black	ZTT-402	16,582	548,000.00
40	Ssangyong Stavic A/T Diesel	2007	White	ZKY-204	67,281	469,000.00
41	Suzuki Celerio M/T Gas	2010	Blue	NIP-621	14,819	444,000.00
42	Suzuki Swift M/T Gas	2009	Red	YHF 143	25,104	540,000.00
43	Toyota Altis G A/T Gas	2009	Black	NII-818	42,094	588,000.00
44	Toyota Avanza J M/T Gas	2009	Black	YJA 499	22,487	470,000.00
45	Toyota Hiace Commuter Van M/T Diesel	2003	Light Green	XNC-255	152,056	446,000.00
46	Toyota Innova Sport Runner A/T Diesel	2010	Bronze	NQG 528	15,310	820,000.00

 

BIDDING RULES AND GUIDELINES:

1. This invitation is open to the public.

2. The vehicles 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.  Pictures of the vehicles offered for bidding can be viewed at the Bank’s website, www.sterlingbankasia.com. (you may also click on the image below to view the PDF file which contains pictures of the repossessed cars for sale)

3.       Visits to the vehicles’ storage areas and photocopies of the ownership documents can be coordinated with the personnel of Acquired Assets, specifically Junie (0917-878-6540 or 02-982-9343) or Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-982-9377 or 02-217-6780) or Resnel (0917-534-2697 or 0932-691-1608 or 02-982-9388 local 2781) or Adrian (0927-394-8279 or 02-982-9388 local 2718). They may also be reached through acquired.assets@sterlingbankasia.com.

4.       The indicated floor prices are the minimum bid prices, thus, any bid below the floor price would automatically be disqualified.

5.       All interested parties may submit their bids in sealed envelopes to the Office of the Audit Group Head, 2^nd Flr. Sterling Bank of Asia Corporate Center,Ortigas Ave., Greenhills, San Juan.

6.       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 10% of the bid price.  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.

7.       The last day of submission of bids shall be on Thursday, August 11, 2011, 3:00 p.m. The prices quoted above shall be valid only up to the last day of submission.

8.       The bids would be opened and evaluated by the Office of the Internal Audit Head together with a representative from Acquired Assets 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.

9. 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.

10. Winning bidders would be notified by Acquired Assets after the results of the bidding are approved by the Bank’s management.   Notified winners would have five (5) working days from receipt of notice to complete the purchase price either in cash or through an approval for an auto loan facility from Sterling Bank.  Failure to fully settle the bid price within the prescribed 5 working day period shall revoke the winning bidder’s right to purchase the subject vehicle and forfeit his/her bid deposit in favor of the Bank.

11.   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 Department 26^th floor Wynsum Corporate Plaza, F. Ortigas Jr. Ave. (formerly Emerald Ave.), OrtigasCenter, Pasig City.

12.   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.

13. The winning bidder must pull out the vehicle/s from the Bank’s premises within two (2) working days from date of full payment, otherwise, ONE THOUSAND PESOS (PhP 1,000.00) per day shall be charged as storage fee.

14.   For further inquiries, you may call Resnel (0917-534-2697 or 0932-691-1608 or 02-982-9388 local 2781) or Adrian (0927-394-8279 or 02-982-9388 local 2718) or Junie(0917-878-6540 or 02-982-9343) or Monching (0917-594-4910 or 0949-619-1643 or 0922-840-2785 or 02-982-9377 or 02-217-6780).  They may also be reached through acquired.assets@sterlingbankasia.com.

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Happy hunting!

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To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker Registration 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.