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  • Auctions: Tips Before The Auction

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    The document discusses auctions held by the Bank to sell acquired assets. At these nationwide public auctions, eligible individuals can bid on properties at significant discounts. PNB real estate brokers are available to represent clients. The document provides tips for participating in the auctions, including checking advertisements, contacting PNB for property details, inspecting properties in advance, and preparing a Php25,000 show money deposit. Instructions are given on registering at the auction, submitting forms, receiving a bidder number, and reviewing properties for bidding.

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    PNB Auctions

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    The document discusses auctions held by the Bank to sell acquired assets. At these nationwide public auctions, eligible individuals can bid on properties at significant discounts. PNB real estate brokers are available to represent clients. The document provides tips for participating in the auctions, including checking advertisements, contacting PNB for property details, inspecting properties in advance, and preparing a Php25,000 show money deposit. Instructions are given on registering at the auction, submitting forms, receiving a bidder number, and reviewing properties for bidding.

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    13 views1 page

    Auctions: Tips Before The Auction

    Uploaded by

    Richard
    The document discusses auctions held by the Bank to sell acquired assets. At these nationwide public auctions, eligible individuals can bid on properties at significant discounts. PNB real estate brokers are available to represent clients. The document provides tips for participating in the auctions, including checking advertisements, contacting PNB for property details, inspecting properties in advance, and preparing a Php25,000 show money deposit. Instructions are given on registering at the auction, submitting forms, receiving a bidder number, and reviewing properties for bidding.

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    Auctions

    The Bank’s acquired assets are also offered thru public auctions that are held nationwide.  In
    these auctions, any person eligible to purchase real properties under Philippine laws may bid for
    properties offered at huge discounts.
    PNB referrors and accredited licensed real estate brokers are welcome to represent their clients
    during the auctions.
    TIPS BEFORE THE AUCTION:

    1. Check auction flyers and advertisements in major national and local newspapers for more

    details.

    2. If you are interested in one of the PNB’s properties, please contact our Regional Asset
    Management Centers (RAMC’s) and/or our Customer Service Desk for more

    information at telephone nos. (02) 526-3131 & 891-6040 locals 4115,

    4713, and 4539, (0917) 507-8385 or e-mail at [email protected]

    3. We recommend that you inspect the property of interest before the auction event, as

    properties are sold on an “as is where is” basis.  Coordinate with our SAMG Sales Account

    Officers on the schedule of your visit.

    4. Prepare Php25,000.00 as show money. An authorization letter or Special Power of

    Attorney (SPA) is required for buyer’s representative. 

    What To Do During the Auction:

    1. Register at the Registration Desk. Brokers or representatives are also requested to


    register. Read the Auction Rules and Conditions and fill out forms.

    2. Submit accomplished forms at Bidder Number Desk, a PNB representative shall check the

    forms for completeness.

    3. Deposit the Php25,000.00 show money to the teller at the Deposit Money Desk. Sign

    the Acknowledgement Receipt and ask for a copy. The teller will keep the original copy.

    4. You will be given a bidder number. The name of the participant shall be written in the

    Bidder number list.

    5. Review the list of properties to be auctioned. Wait and relax until the auction is officially

    opened.

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