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PAGIBIG Acquired Assets Cavite

How to Avail of PAG-IBIG Acquired Assets in Cavite 2021

Owning a house is a dream for a lot of Filipinos. However, income usually comes as a constraint in achieving this dream. That is why some individuals would instead abandon their dream of owning a house. PAG-IBIG understands this predicament. That is why PAG-IBIG offers acquired assets to interested homebuyers. Through the PAG-IBIG acquired assets, interested homebuyers can now avail foreclosed properties that give them the chance to purchase a house and lot at a lower price and allow them to be one step closer to their dream of owning a home. 

What is PAG-IBIG acquired assets?

PAG-IBIG acquired assets are properties seized due to the failure of the original owners who availed the PAG-IBIG housing loan to pay their monthly amortization. PAG-IBIG usually gives borrowers who defaulted a chance to repurchase their expropriated property. The same opportunity is also given to tenants who rented and occupied the seized property.

However, suppose the original owners are no longer interested in repurchasing the property. In that case, PAG-IBIG will open the seized property for public bidding and offer it at a cheaper cost to recuperate from the unpaid loan and create income to sustain the PAG-IBIG Fund. If the sale via auction still failed to sell the seized property, it is then posted for a negotiated sale where homebuyers can purchase the property discounted as much as 30%. 

How to avail PAG-IBIG acquired assets?

You can avail of PAG-IBIG acquired assets in three ways – bidding for the property, buying under negotiated sale, and purchasing through a PAG-IBIG housing loan. 

Steps to purchase acquired properties in Cavite

If you plan to join an auction for a PAG-IBIG acquired the asset in Cavite, here is the process of bidding:

  • Check the PAG-IBIG website five days before the set auction date to see if there were any changes in the previous listings and to ensure that the property you are interested in bidding for is still available. Listing for properties in Metro Manila is updated regularly, while the list for properties in the provinces is updated every Friday.
  • Prepare the following requirements:
    • Two copies of the accomplished Offer to Bid form
    • Bidder’s bond, paid either in cash at a Pag-IBIG office or manager’s check payable to Pag-IBIG Fund, equivalent to 10% of your proposed bid price for your desired property.
    • Accomplished Special Power of Attorney and Acknowledgment form if an authorized representative will bid on your behalf. 
  • Attend the scheduled bidding and submit your sealed bid to a technical working group usually found at the bidding venue entrance. 
  • The highest bidder will be announced as the winner. If you won the bidding, your bidder’s bond, which is 10% of the bid price, will serve as your down payment for the foreclosed property. You can pay the remaining 90% of the bid amount in cash, in instalment, or through a Pag-IBIG housing loan.
  • If you lost the bid, you would get back your bidder’s bond together with an acknowledgement receipt.

If you wish to purchase PAG-IBIG foreclosed properties on negotiated sale in Cavite, here are the general guidelines:

  • Reserve the PAG-IBIG acquired property you are interested in buying.
  • Submit the following documents:
    • Accomplished Reservation Form
    • Duly filled out Offer to Purchase Form
    • Government-issued ID
    • Active Employment Contract/ Certificate of Employment if employed
    • Income Tax Return
  • Pay the reservation fee with 1,000 PHP.

If you want to buy a PAG-IBIG acquired property via a PAG-IBIG housing loan in Cavite, the steps are:

  • Prepare the following documents:
    • Two copies of duly-accomplished Buyer’s Information Sheet attached with 1×1 ID photo on each document.
    • Photocopy of the principal buyer and spouse’s valid ID front and back. If applicable, co-buyer and spouse. 
    • Proof of Income 
  • Pay the 2,000 PHP processing fee and 100 PHP documentary stamp tax.
  • Wait for a month to receive the Notice of Approval of Loan and Disclosure Statement on Loan Transaction. 
  • Sign and Submit the Conditional Deed of Sale and other mortgage documents.
  • Choose your payment for the selling price among the available options – in cash, monthly installments, or through the housing loan. 

Where to find the list of PAG-IBIG acquired assets in Cavite? 

You can find the list of PAG-IBIG acquired assets in Cavite by visiting the nearest PAG-IBIG regional branch and requesting a copy of the list from the Marketing and Sales-Acquired Assets Management Group. You can also check the official website of PAG-IBIG and follow the simple steps. 

How to View the List of Acquired Assets Under Negotiated Sale

  • On the Pag-IBIG Fund website, go to the Pag-IBIG Fund Acquired Assets page.
  • Click the Properties Under Negotiated Sale button on the right-hand corner of the page.
  • Choose your preferred location and price range from the drop-down menu and click the Search button. This will give you a list of properties that matches your search criteria.
  • Click the View Property to check the specific details of the property you are interested in buying.
  • Click the Print button to have a copy of the foreclosed property’s information.

How to View the List of Acquired Assets for Auction

  • Go to the PAG-IBIG Acquired Assets page on the Pag-IBIG Fund website.
  • Scroll down until you see the Schedule of Public Auctions section.
  • Choose your preferred bidding schedule and venue.
  • Read the bidding guidelines and list of properties up for public bidding in the PDF file that popped up. 

Alternatives to buying PAG-IBIG acquired houses

Without a doubt, PAG-IBIG acquired assets provide interested home buyers with a lot of benefits such as lower prices for properties and access to houses situated in prime locations. However, everything has its own cons. The downside of purchasing a PAG-IBIG acquired asset is that the property is no longer brand new, which may not be ideal for some families. 

Bilkenn Corporation is here to address this specific problem. Bilkenn is one of the fastest-growing real estate developers in the Philippines that develops affordable and luxurious modern house and lot units Cavite.

Find your perfect home with Bilkenn.
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