A Guide on Bidding and Purchasing Pag-IBIG Foreclosed Properties

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The Pag-IBIG or Home Developmental Mutual Fund or HDMF is the home insurance department of the Philippines. They allow members some benefits and privileges that are in connection with acquiring homes, house and lots, and the like. 

Pag-IBIG foreclosed properties
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Since they give this benefit to their members, they have acquired assets which are for both low-income earners and real estate investors—the former being able to get an affordable shelter while the latter who want to get better returns.

Read: Pag-IBIG Housing Loan

Are you looking to learn more about Pag-IBIG’s assets and how you can grab advantages from it? Well, there are Pag-IBIG assets?

Pag-IBIG foreclosed properties

When an owner who asked Pag-IBIG for financial assistance fails to comply to the payment schemes and terms of the loan, the property will automatically become Pag-IBIG’s asset—these will then become Pag-IBIG foreclosed properties.

In normal cases, Pag-IBIG fund would provide delinquent borrowers a chance to purchase their properties back when they default on the monthly amortization payments. More so, they also offer this option to tenants who are currently occupying the foreclosed property.

What if the previous owner doesn’t have the capability to buy it back? 

In the event that this option doesn’t work out with the previous owner, Pag-IBIG foreclosed properties will be offered to new buyers at a substantially lower price by bidding to be able to rejuvenate the loan and to generate income for the Housing Fund through public bidding or via purchase.

The purchase will only be possible if the auction will fail for a certain property—buyers can have a discount amounting up to 30 percent.

Before you can purchase a foreclosed property owner by Pag-IBIG, you have to find the list of the houses and hose and lots first. 

Read: Pag-IBIG Housing Loan Monthly Amortization Table 2019

How can you find the list of Pag-IBIG foreclosed properties or acquired assets for sale?

There actually are two (2) ways on how you can see these Pag-IBIG foreclosed properties that are for sale: (1) is through the Pag-IBIG website; and (2) by visiting the Pag-IBIG office. 

If you prefer the latter, you can proceed to your Pag-IBIG regional branch (for properties in your province). For properties in the Metro, you can visit the main office at

JELP Business Solutions Center
409 Shaw Blvd.,
Mandaluyong City

Pag-IBIG foreclosed properties via the Pag-IBIG online portal

If you are more fond of viewing things online, it’s actually easier than traveling to either a Pag-IBIG regional office or the main Pag-IBIG branch. 

Access the Pag-IBIG website property finder page. You will find a list of the foreclosed properties in the Metro—they’re updated regularly. List for province properties, however, are only updated every Friday.

  1. Once you’re in the property finder, hit on theProperties Under Negotiated Sale
  2. Choose the best location and price range from the drop-down menu.
  3. Hit on the search button. 

You will see the following information of the properties that will be listed there:

  • Value or price of the property
  • Type of the property (Lot only/House/House and Lot/Quadruplex/Duplex/Townhouse/ etc.)
  • Status of the property
  • Date when the property was last updated
  • Name of the subdivision and exact location of the property
  • Pag-IBIG branch or the Pag-IBIG office that manages the sale of the property
  • Contact number of the people who supervises the Pag-IBIG branch
  • Remarks: this will tell you if the house is reserved or available

Purchasing Pag-IBIG foreclosed properties which are under negotiated sale

As mentioned above, if a certain property fails to be successfully auctioned, it will be up for purchase having a discount of up to 30 percent. 

Read: Pag-IBIG Fund (HDMF) Directory

How can you buy?

Reservation of the property

Prepare at least one (1) of any valid ID and proof of income. You can choose from the following:

  • Passport
  • Company ID
  • Driver’s License
  • Unified Multi-Purpose ID
  • PRC ID
  • Postal ID
  • Voter’s ID
  • IBP ID
  • Senior Citizen ID
  • HDMF-Pag-IBIG Overseas Program (POP) ID
  • AFP ID

Proof of income documents:

  • For employees (local): One-month latest paystub
  • For self-employed: The latest Income Tax Return (ITR); Business Permit; Barangay Permit
  • Employees (OFWs): Certificate of Employment and Compensation (COEC); Active Employment Contract

When you have them prepared, you can reserve your chosen property. To reserve, you need to fill out the Offer to Purchase Form and the Reservation Form. In either of these forms, you will be asked to indicate how you will be paying.

In addition to that, you will also be asked to pay a non-refundable P1, 000 reservation fee. 

Submission of requirements

You need to ensure that you have the following documents prepared for you to be able to apply for the purchase:

  • Two (2) dully filled-out Buyer’s Information sheet
  • Photocopy of the valid ID of the principal buyer, spouse, co-buyer and spouse (only if applicable)
  • 1 x 1 ID photo attached to each of the forms
  • Proof of income (any of the documents listed above)
  • Processing fee: P2000.00 and P100.00documentary stamp tax.

How to see the Pag-IBIG acquired assets that are for auction?

If you prefer bidding over just purchasing, you can view the list of the Pag-IBIG foreclosed properties that are available for bidding on the HDMF website. 

Read: Pag-IBIG Housing Loan: Less Requirements, and Lower Interest

  1. First, you have to proceed to the Pag-IBIG Fund page for its Acquired Assets.
  2. Once there, scroll down to the part where you can see the Schedule of Public Auctions; you will see the page divided into two (2) categories (without discount and with discount).
  3. Also, it’s going to be divided into the province branches or the NCR branch.
  4. Populate it with your preferred schedule for bidding and the venue for the property’s location. 
  5. A PDF file will prompt and this will contain the guidelines and the listings of the properties that are for auction. 

These are the details that will be available in the PDF file:

  • Location of the property
  • Number of the property
  • Floor area
  • Appraisal Date
  • Minimum Bid Amount
  • Property Type
  • Transfer Certificate of Title (TCT)
  • Lot Area

Bidding guidelines for the Pag-IBIG foreclosed properties

If you look forward to joining a public auction for a Pag-IBIG foreclosed property, you need to know the general rules and guidelines in making a bid. 

Prepare the requirements

You don’t want to waste your trip to the bidding—prepare all of the needed requirements to participate in the bidding. Place them in a sealed envelope. The requirements are:

Read: How to Become a Member of Pag-IBIG Fund

  • The bidder’s bond which should be equal to the ten (10) percent of the proposed bid price for the desired property. Note: This should either be paid via a manager’s check payable to the Pag-IBIG Fund or cash at a Pag-IBIG office.
  • Two (2) duly accomplished Offer to Bid Form. You can download them by clicking on the link.
  • Special Power of Attorney (SPA) and an Acknowledgement Form Note: Only if the person won’t be able to attend the bidding and will anoint someone over his or her behalf

Check if there’s an erratum posting

An erratum is an error in either writing or printing and there are times when a post has erratum details. Before you proceed to the bidding, make sure that you visit the Pag-IBIG page of acquired assets and see whether or not there are errors on the property details under the auction. 

The Erratum will have the list of properties that were removed recently from the official list of public bidding. Oftentimes, these are already excluded from the bidding because of the fact that they’re already sold or given to a buyer before the date of the auction. 

Note: It’s always right to check the property you are eyeing on if it’s still available for bidding.

Attend the bidding

Proceed to the person on duty and pass your requirements and the sealed bid. When the deadline of the sealed bid gets passed, all of the bids will be opened; the highest bidder will be announced as the winner. 

If you fail to win the bid, you will get your bidder’s bond with an acknowledgement receipt. In the event that you successfully win the bid, however, the bidder’s bond you claimed will automatically become your down payment for the Pag-IBIG foreclosed property. Therefore, you can continue to pay for the remaining 90 percent of the amount in installmentscash, or through the Pag-IBIG housing loan.

Read: LandBank’s Home Loan Program For OFWs, Government, And The Private Sector Workers

Why purchasing Pag-IBIG foreclosed properties is a good investment?

First and foremost, than the fact that it’s a property that hasn’t been payment-completed, it’s cheaper than the usual price of the same type of property. This will allow you to afford a property which can be brand new or slightly used if you don’t have the enough funds to purchase a new property. Buying properties through the Pag-IBIG foreclosed properties list is affordable; and

It’s a great investment because you can purchase a property and use it, appraise it, and sell it higher than the price you have paid for it. Although purchasing Pag-IBIG assets are sold on an “as is” basis, it’s still cheaper to have some things repaired than to purchase something new, right? 

Read: Pag IBIG Online Registration: Complete step-by-step Guide 2019

Are you looking for an affordable property but lack the funds to buy a brand-new one? Do you need help in finding assets for yourself? Well, buying Pag-IBIG foreclosed properties might just be the next best decision you’ll ever make. 

Visit their website and check their listings now!

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