PDIC sets auction of closed banks’ properties

MANILA, Philippines — The Philippine Deposit Insurance Corp. (PDIC) is set to auction off a total of 137 properties of closed banks with an aggregate minimum disposal price of P86.9 million.

 To be auctioned off on an “as is, where is basis” are 75 residential lots, 48 residential lots with improvements, two commercial lots with improvements, one mixed-use commercial and residential lot, one mixed-use agricultural and residential lot with improvement, a fishpond in Dagupan City, five motor vehicles, two generator sets, one automated teller machine and one Riso copier.

The properties are located in Metro Manila, Bataan, Benguet, Bulacan, Cagayan, Cavite, Ilocos Norte, La Union, Nueva Ecija, Negros Occidental, Pangasinan, Quezon, Rizal, and Tarlac.

 PDIC said the bidding would be held on Nov. 27.

The state firm’s Real and Other Properties Acquired (ROPA) disposal committee will accept sealed bids from direct buyers from 9 a.m. to 1:45 p.m. Bids will be opened at 2 p.m.

According to PDIC, each bid should be accompanied by a bond or deposit equivalent to at least 10 percent of the submitted bid, in cash or manager’s check, or a combination thereof.

The winning bidder should pay the balance of the bid or purchase price in full within 15 calendar days from the receipt of the certificate of award or not later than Dec. 12.

PDIC has advised bidders to physically inspect the properties they are interested to buy, examine and verify the titles and other evidence of ownership, and determine any unpaid taxes, fees, charges, and expenses before submitting their bids.

 Interested buyers are also required to bring proper identification document with photo and to register at least one hour prior to the deadline for submission of bids.