Pag-IBIG Fund, Davao branch has scheduled a bidding of their
foreclosed properties this coming April 18, 2012. There are about 64 properties
available for bidding. General guidelines for the bidding are as follows:
GENERAL GUIDELINES
1. Interested buyers
are reminded to conduct an
investigation and ocular inspection of the property/ies to determine its/their actual condition before the
scheduled bidding.
2. Bidders are required
to secure copies of a)
INSTRUCTIONS TO BIDDERS
and b) BID
FORM from the
Acquired Assets Management and
Disposition Unit, HDMF
Davao Branch, 2nd Floor,
Pryce Tower Condominium, Pryce Business Park, JP Laurel Avenue, Davao City.
3. Each bid
shall be submitted
in triplicate copies
placed in a
properly sealed envelope and addressed to the
HDMF Davao Branch-Committee on Disposition of Acquired Assets at 9:00
AM on April 18,
2012 at the HDMF Training Room, 3rd
Floor, Pryce Tower, JP Laurel Avenue,
Bajada, Davao City immediately afterwhich, the said bids shall be opened in the
presence of attending bidders.
4. All occupants
of the foregoing acquired
residential properties shall be given until
March 29, 2012 to
formalize their offer
and shall comply
all the requirements not later than
April 10, 2012 otherwise, the property they
are occupying will be included in the bidding. Occupants
may purchase the unit
through cash or
housing loan; 1) provided that backrentals have been settled and
2) provided further
that, in case of purchase
of the subject property through
housing loan, the
eligibility requirements under
the existing housing
loan guidelines are met as supported by the Membership Status
Verification Slip (MSVS).
5.
Each bid
must be accompanied
by a Pag-IBIG Fund Receipt
(PFR) original copy, reflecting payment
of the required FIVE PERCENT
(5%) minimum deposit computed
based on the
selling price. Such deposit shall form part of the winning bidder’s downpayment or shall be returned to the
non-winning bidder without interest upon the completion of the public bidding.
6.
The
said FIVE PERCENT (5%) minimum downpayment may be paid on April 16 – 17, 2012.
7.
The
bidder who offers the highest bid shall be declared the winning bidder.
8.
A tied
highest bid shall be resolved by applying the following order of preference:
a) Cash Offer
b) Housing Loan
If there is still a tie, it shall be resolved
immediately by an open bidding between/among tied highest bidders.
9.
In
case there is only one (1) complying bidder for a particular property, he shall
be automatically declared as the winning bidder.
10.
Properties
shall be sold on an “AS
IS WHERE IS BASIS” and the winning
bidder shall take possession of the property without seeking assistance from
HDMF Office upon signing of the contract.
11.
No bid
below the minimum bid price shall be accepted.
12.
No
property swap-arrangements shall be allowed as consideration for the sale of
the property being offered.
13.
Acquisition
of Pag-IBIG Fund acquired
properties may be
purchased through CASH or financed through Pag-IBIG HOUSING LOAN, for
Pag-IBIG member.
In case of
housing loan, loans up to P 750,000.00 shall be subject to a loan-to-collateral
ratio of one hundred percent (100%) while loans over P 750,000.00 up to P 2.0
million shall be subject to a loan-to-collateral ratio of ninety percent (90%).
14.
A
bidder who may purchase the acquired property through Pag-IBIG HOUSING LOAN
shall submit together with the BID FORM
his/her duly approved MEMBERSHIP STATUS VERIFICATION SLIP (MSVS). (To secure an MSVS attend a housing loan seminar on a Saturday 9:00 AM at the Pag-ibig Fund
Training Room, 3rd Floor Pryce Tower, Bajada, Davao City).
15a. The winning bidder shall be required to pay in full the
remaining balance of the bid price
within FIVE(5) WORKING DAYS from the date of the receipt of the Notice
of Award, if
the mode of
payment is through
cash or shall be required to comply the housing loan requirements within FIFTEEN
(15) WORKING DAYS
from the date
of the receipt of the Notice of Award if the mode of payment is through Pag-IBIG housing loan.
15b. The winning bidder
who fails to
pay in full the remaining
balance within five(5) working
days or fails to submit/comply the housing
loan requirements within fifteen (15) working days shall
lose his right
as the winning
bidder. The five percent (5%) deposit of payment
shall be forfeited in
favor of the
Fund. Such amount
shall be treated as liquidated damages and HDMF shall
declare the next highest bidder as the winner.
16. A twenty
percent (20%) discount of the
bidder’s bid price shall be given to the winning bidder who will pay
the subject property
in cash. However, if payment shall
be made through housing loan, HDMF shall grant a discount of fifteen
percent(15%) only.
17. Individual bid application shall be signed by
the bidder himself or his
duly authorized representative
(supported by a Special Power of Attorney
(SPA) while applications by a Partnership
or Corporation, the
officer duly authorized
in a resolution adopted by the
Partner’s or Corporation’s Board of
Directors for the purpose (supported
by a Secretary's Certificate). Bid
quotation must be written both
in words and in figures.
18. Prospective bidders are hereby enjoined to inspect for
themselves the site, title and
encumbrance, if any, to the
real properties described above.
Consequently, all bids
shall be submitted
under the condition that
HDMF shall in no case be liable for breach of any or
all legal or contractual warranties including among others, warranties against
hidden defects and against evictions.
19. Except for the
creditable withholding tax,
all expenses incidental to the sale
and transfer of
ownership shall be
for the account of the winning
bidder, including the ejectment of squatters and/or occupants, if any, from the
property, subject of the bid.
20. No addition to or deletion of the conditions stipulated herein
shall be made
by the bidder. HDMF reserves the right to reject any and all bids for
non-adherence to its bidding rules.
21.
The sale to the highest bidder shall be
confirmed by the Pag-IBIG FUND COMMITTEE ON DISPOSITION OF ACQUIRED ASSETS.
HDMF RESERVES THE RIGHT
TO REJECT ANY AND ALL BIDS, TO WAIVE ANY FORMALITY THEREIN, TO ACCEPT SUCH BIDS
AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE FUND OR TO CALL OFF A BIDDING
PRIOR TO ACCEPTANCE, AND CALL FOR A NEW BID UNDER AMENDED RULES. THE DECISION
ON THE BID IS FINAL AND BINDING.
As to the list, it is available at the Fund’s website at www.paibigfund.gov.ph or you may
contact the Acquired Assets unit of Davao Branch at telephone number 2244733 or
email address at davao_lcmrd@yahoo.com
