Cebu properties among parcels PDIC will auction this month

Saturday, October 15, 2011

STATE-RUN Philippine Deposit Insurance Corp. (PDIC) is selling P263.57 million worth of assets in a public bidding.

In a statement sent this week, PDIC announced it is set to sell on “as-is, where-is” basis 78 real properties in a public bidding at PDIC Makati on Oct. 25.

Learn What's new in CEBU Now

Up for bidding are 69 PDIC-owned assets composed of residential, commercial and industrial properties and nine closed bank assets.

The properties are located in Albay, Batangas, Bulacan, Cagayan, Cebu, Davao del Sur, Davao Oriental, Iloilo, Isabela, Laguna, Leyte, Metro Manila, Misamis Oriental, Negros Oriental, Nueva Ecija, Palawan, Pangasinan, Quezon, Rizal and South Cotabato.

Direct buyers

Bids will be received from 9 a.m. to 2 p.m. PDIC said there shall be no extension for the submission of bids and it will accept sealed bids from direct buyers only.

The list of assets and their descriptions can be accessed at the PDIC website, www.pdic.gov.ph.

Before submitting the bids, prospective buyers are advised to inspect the properties they are interested to buy, assess and verify the land titles and other related documents; and determine unpaid taxes, fees or expenses.

The PDIC added all bids must be accompanied by a bond or deposit equivalent to at least 10 percent of the submitted bid. This can be in the form of either cash or manager’s check or cashier’s check, or a combination thereof. Buyers have seven working days to pay the balance.

PDIC personnel may accompany prospective buyers to properties located in Metro Manila.

For properties located in the provinces, PDIC has posted “For Sale” signs in public and strategic areas within the localities. In addition to property descriptions, vicinity maps and lot plans are also available to interested buyers through the PDIC website.

PDIC said bid documents such as bid forms, conditions of bid, and acceptable format for Special Power of Attorney and secretary’s certificate may be downloaded from their website.

Published in the Sun.Star Cebu newspaper on October 15, 2011.