PUBLIC AUCTION. Pag-IBIG Fund Bacolod Housing Business Center Department Manager III Wilmer B. Lirazan invites Ilonggos to take a look at their acquired properties being auctioned off this National Shelter Month at a press conference on Monday (Oct. 10, 2022). He said that they have 216 acquired properties across Western Visayas that are up for public auction and negotiated sale. (PNA photo by PGLena)
ILOILO CITY - Ilonggos looking for residential units may consider taking a look at the acquired units of the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund that are being auctioned off in line with the celebration of National Shelter Month this October.
Pag-IBIG Fund Bacolod Housing Business Center Department Manager III Wilmer B. Lirazan, at a press conference on Monday, said housing exhibits are currently being held at the Plazuela Uno until Oct. 14, and at the Robinsons Mall Iloilo until Oct. 16, Deca Homes 2 Club House until Oct. 15, and at the SM Iloilo from Oct. 24 to 30.
“We have 216 available properties, 81 are under first public auction and the rest are under negotiated sale. These are located across Western Visayas and not just in Iloilo,” he said.
Properties that are not auctioned off will be disposed of through negotiated sale, while bids are required for those that are subjected to first and second public auction, he added.
Lirazan assured the public that the Pag-IBIG fund-acquired assets are being sold at very reasonable prices.
“The advantage of taking acquired assets is that aside from being reasonable, we do not require reservation fee and processing fee that are being required by developers that sometimes reach up to PHP100,000,” he added.
The acquired properties are being sold on an “as is, where is” basis and there are some that are still occupied, though illegally.
The government agency, however, assured buyers that it is following a process to make sure that the illegal occupants will vacate the property once sold.
The auction is open even to non-members of the Pag-IBIG but will have to pay through cash or short-term installment for 12 months, while members have another option to avail of the long-term payment for as long as 30 years. (PNA)
