A: Whenever PDIC holds a public bidding, it publishes an Invitation to Bid (ITB) containing the list of properties to be bid out, as well as the guidelines for interested bidders. The ITB is published in newspapers and posted in the PDIC website and its Facebook and Twitter accounts. The ITB advises prospective buyers to physically inspect the properties they wish to buy, examine and verify the titles and other evidence of ownership, and determine any unpaid taxes, fees, charges and/or expenses before submitting their bids.
When submitting bids, bidders are advised to bring proper identification (ID) with photo which shall be required for entry to the bidding area. Bidders are also advised to come one (1) hour earlier than the 1:45 p.m. (PDIC time) deadline for submission of bids to allow enough time for registration. Only registered bidders are allowed to drop their bids and participate in the bidding.
A bidder shall submit his/her/its bid in two (2) separately-sealed envelopes (white and brown) addressed to the PDIC ROPA Disposal Committee. The white envelope shall contain the duly signed bid form while the brown envelope shall contain the bid deposit and documentary requirements of the bid.
Interested buyers may get in touch with PDIC through the following contact information:
A: Interested buyers may get in touch with PDIC through the following contact information:
A: The buyer/bidder shall have the responsibility to:
A: The winning bidder shall assume the payment of appropriate taxes, fees, charges and expenses in connection with the sale of the property and the transfer of the ownership to himself/herself/itself including, but not limited to, capital gains tax or credible withholding tax, whichever is applicable, value added tax, documentary stamp tax, notarial fees, registration expenses, legal and research fund fees, entry fees and such other fees and expenses incidental to the execution and registration of the Deed of Absolute Sale.