A TOTAL of 56 properties of Pag-Ibig Fund are set for public auction on February 27 at 9 a.m. at Bethel Guest House, Dumaguete City.
The acquired assets for disposal to be included in the sealed bidding are located in Dumaguete City with six properties, 46 in Sibulan town, and two in Bayawan City.
Pag-Ibig Department Manager of Loans Management and Recovery Department Wilmer Lirazan said in a press conference that most of the properties for sale are unoccupied.
Lirazan said the public auction is among the agency's programs that give opportunities to Negrenses who want to acquire a house of their own, especially those who are still renting houses.
Angelo Hermosisima, division chief of Pag-Ibig Acquired Assets Division, said: "This public auction is the third disposal of acquired properties for Negros Oriental through sealed auction of acquired assets which the first two auctions were done sometime in 2017 to 2018 in Cebu."
The bidding price is based on the latest appraisal value of the physical condition of the property or an "as is, where is" basis.
Hermosisima said during the auction process on February 27, there will be a registration, to be followed by a brief pre-bid conference where the auction guidelines will be explained before the bidding starts.
Forms will be filled out together with the sealed envelope containing the bid money either in cash or manager's check intended for the property of interest.
Hermosisima called on interested bidders to check the list and status of the properties at the Pag-Ibig website.
The bid bond for the winning bidders will be considered as downpayment and the remaining balance to be settled in three modes: cash basis, short term installment or through long term financing or housing loan with monthly amortizations.
For non-winning bidders, the bid bond will be refunded without interest. (PIA)