As of May 10, 2023, total of 522 UnionBank foreclosed properties from Metro Manila, Luzon, Visayas, and Mindanao, are included in a public sealed bidding and the deadline for bids is on May 12, 2023. Details below.
Table of contents
- Sorry for the short notice
- Learn more about Unionbank’s “Acquired Properties”
- View Unionbank Foreclosed Properties (Database)
- View/download Unionbank foreclosed properties list for sealed bidding
- Does UnionBank require credit checking?
- Who will shoulder taxes related to the purchase?
- Payment terms: Cash basis only?
- Contact Info for UNIONBANK ASSET RECOVERY GROUP
- Sealed Bidding Details and Important reminders
- What to include when submitting sealed bids
- UnionBank Bidding Rules, Guidelines, Requirements
- Reminders
- Full disclosure
Sorry for the short notice
I’m really sorry for the short notice. With the May 12 deadline for bids, it means we all have barely 2 days to do proper due diligence.
FYI, I checked Unionbank’s website yesterday, May 9, at 5:59am and the list they have was still for the May 5 bidding.
Upon checking later that night, it was updated with the May 12 listing. However, I couldn’t work on it anymore as it was already too late. Because of health reasons, it is critical that I get enough sleep.
Anyway, I really want to ask them why they upload the new schedules like this, and I hope they will upload sooner, ideally at least 1 month in advance just like before the pandemic.
Learn more about Unionbank’s “Acquired Properties”
Here’s a short video about Unionbank foreclosed properties:
View Unionbank Foreclosed Properties (Database)
For easy searching/filtering, I uploaded the list of Unionbank foreclosed properties inside our foreclosed real estate database.
==> View searchable list of Unionbank Foreclosed Properties (Database)
If you prefer to download the list in PDF format, see below.
View/download Unionbank foreclosed properties list for sealed bidding
Here’s a copy of the listing in PDF format:
==> View/download Unionbank Foreclosed Properties List (PDF)
Source: Unionbank Website
Search for more foreclosed properties in our database…
You can also search from over 30,000 foreclosed properties in our database.
This includes other banks and lending institutions that have foreclosed properties for sale.
Use this to quickly search for all foreclosed properties in a subdivision, village, condominium project, city, etc.
==> Click for advanced foreclosed properties search
All locations with foreclosed properties by Province/City
You can also browse all locations within the Philippines with foreclosed properties available from ALL banks/lending institutions inside our database, grouped by Province/ City, on this page:
==> Click to browse all foreclosed property locations
Note: The “Foreclosed Properties Database” is a work in progress. If you have comments/ suggestions, please do let me know by leaving a comment below.
Does UnionBank require credit checking?
Since the payment terms is cash basis only (as stated in the bidding guidelines), then I don’t believe credit checking is required.
Who will shoulder taxes related to the purchase?
According to the bidding guidelines, all taxes and expenses related to the sale will be for the buyer’s account. These include but are not limited to:
- Creditable Withholding Tax or CWT
- Documentary Stamps Tax or DST
- Business Tax
- Transfer Tax
- Registration Fees
Payment terms: Cash basis only?
It appears the only payment term available for this sealed bidding is cash basis only because it is the only mode of payment inside the bidding rules. See Bidding Rules and Regulations for more details.
The good news is, cash buyers will get a 5% discount as indicated in the bidding rules (see below for more details).
Contact Info for UNIONBANK ASSET RECOVERY GROUP
For more info, please call UnionBank DIRECTLY through the following:
- JP: 09178241494
- GAB: 09178232188
- MC: 09178600875
- MAE: 09951649727
By the way, if you plan to call Unionbank, please do so during office hours: 08:30 am to 05:30 pm (Monday to Friday).
You may also contact them via:
- E-mail: ARGsales@unionbankph.com.
- Website: www.unionbankph.com/foreclosed-announcement-downloadable
Sealed Bidding Details and Important reminders
- Deadline for submission of bids: May 12, 2023 (Friday, 5:00 PM)
- How to submit bids: Submit online via email: ARGMarketing@unionbankph.com
“PLEASE SUBMIT YOUR ACCOMPLISHED BIDDING FORMS, BIDDING RULES, AND VALIDATED DEPOSIT SLIP VIA EMAIL: ARGMARKETING@UNIONBANKPH.COM NOT LATER THAN May 12, 2023 (Friday, 5:00 PM).
———
JUST DEPOSIT THE P20,000.00 SHOW MONEY AT ANY NEAREST UNIONBANK BRANCH TO QUALIFY TO BID FOR EACH PROPERTY.
CWT IS FOR THE ACCOUNT OF THE BUYER.
- ACCOUNT NUMBER: 1906322505001144
- ACCOUNT NAME: UNIONBANK OF THE PHILIPPINES“
Please refer to Bidding Rules and Regulations below for more info.
What to include when submitting sealed bids
The sealed bid must contain the following:
- Signed Bid Form
- Signed Bidding Rules + all listed requirements (see Annex A of Bidding Rules and Regulations)
- Validated deposit slip for the Php20,000 show money
For more info, please refer to the Bidding Rules and Regulations.
UnionBank Bidding Rules, Guidelines, Requirements
Here’s a copy of the bidding rules and guidelines, plus other related forms for quick reference (these are direct links to the files on UNIONBANK’s WEBSITE):
- Download Flyer
- Bid Form
- Bidding Rules and Regulations
- Personal Info Form
- Buyer’s Requirements
- Signature Card
- Offer To Buy Form
If you have questions, you may contact UnionBank directly.
Reminders
1 ) UnionBank may, at anytime, withdraw any of the properties listed above prior to auction.
2 ) Office Hours: 08:30 am to 05:30 pm (Monday to Friday).
3 ) Payment of Creditable Withholding Tax (CWT) is for the Buyer’s account.
4 ) All winning bidders will be subject to credit checking.
5 ) LA – Lot Area
6 ) FA – Floor Area
“The properties are sold on an “AS IS WHERE IS” basis. Prospective buyers are enjoined to conduct due diligence on the physical (which include condo/HOA dues, and utility bills, if any) condition of the property. As such, the seller makes no warranty as to the boundaries and technical description of the property and as to its legal condition such as the existence of any claims, liens suits or action involving the same property.
MISPRINTS ARE NOT MISREPRESENTATION OF ANY PROPERTY.”
Full disclosure
Nothing to disclose. While we are accredited licensed real estate brokers with Unionbank, we have stopped brokering foreclosed properties at the moment, so please contact Unionbank directly to inquire. We are sharing this as a public service announcement to all our readers and subscribers. Thank you for understanding!
Happy hunting!
Source: UnionBank Website