MANILA – Pag-IBIG Fund has extended its Acquired Assets Super Sale until Dec. 31, giving more time for interested buyers to purchase foreclosed properties at discounted rates.
In a statement on Tuesday, Pag-IBIG Fund said interest in acquired assets has remained high since the Super Sale opened on Aug. 25, with 44,861 bids received and 18,434 winning bids recorded to date.
A total of 5,074 properties are expected to be published for auction until the end of the year.
“The demand for our Acquired Assets Super Sale has been overwhelming and very encouraging, showing how dependable Pag-IBIG Fund has become in helping Filipino workers secure affordable homes,” Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling, who chairs the Pag-IBIG Fund Board of Trustees, said.
“With the enhancements to our Super Sale, we are making participation easier and more affordable for more buyers.”
The strengthened program supports the administration’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program by offering families a faster, more affordable way to secure decent housing, he added.
Under the updated guidelines, Pag-IBIG Fund reduced the required down payment for cash and short-term installment purchases to 3 percent of the net selling price, from the previous 5 percent. Bidders may also now submit offers for up to three properties per batch of published listings.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta said the enhancements aim to make homeownership more attainable, including for long-time occupants of foreclosed properties who want to legally acquire the homes they currently reside in.
“By offering larger discounts and lowering upfront costs through the Super Sale, we are giving more Filipino workers the opportunity to finally own a home,” Acosta said.
“For current occupants, this is also the best time to settle with Pag-IBIG Fund and become legitimate homeowners.”
For those not ready to purchase, Acosta said the agency continues to offer lease options for up to three years, with the initial requirement lowered to a one-month advance rent from the previous two months. (PNA)