PNB Foreclosed Property Auctions In Iloilo and Bacolod
12 Sep 2012
The Philippine National Bank (PNB) are holding two auctions in the Visayas of foreclosed properties.
One is in Bacolod City on the 9th October, and the other in Iloilo on the 11th October.
The Bank’s acquired assets are offered thru public auctions that are held nationwide. In these auctions, any person eligible to purchase real properties under Philippine laws may bid for properties offered at huge discounts.
PNB referrors and accredited licensed real estate brokers are welcome to represent their clients during the auctions.
Full property details in flyer below
Tips Before the Auction:
1. Check auction flyers and advertisements in major national and local newspapers for more details.
2. 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 properties@pnb.com.ph
3. 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.
4. Prepare Php25,000.00 as show money. Special Power of Attorney is required for buyer’s representative.
What To Do During the Auction:
1. Register at the Registration Desk. Brokers or representatives are also requested to register. Read the Auction Rules and Conditions and fill out forms.
2. Submit accomplished forms at Bidder Number Desk, a PNB representative shall check the forms for completeness.
3. Deposit the Php25,000.00 showmoney to the teller at the Deposit Money Desk. Sign the Acknowledgement Receipt and ask for a copy. The teller will keep the original copy.
4. You will be given a bidder number. The name of the participant shall be written in the Bidder number list.
5. Review the list of properties to be auctioned. Wait and relax until the auction is officially opened.
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