1. The sale of the properties is on an "AS-IS, WHERE-IS" basis. Prospective bidders are advised to inspect the properties to determine their physical condition and check the titles and the corresponding tax declarations (TDs) as there are properties that have one or all of the following characteristics:
   (a) have illegal occupant/s,
   (b) titles/TDs still in the name/s of the previous owner/s and for transfer in the name of Home Guaranty Corporation (HGC); and
   (c) titles with liens and encumbrances or with annotation of “lis pendens”.
   
   
2. Bid documents can be secured from the HGC’s Asset Management and Disposition Group (AMDG), located at the 4th Floor, Jade Building, 335 Sen. Gil Puyat Avenue, Makati City or downloaded from the HGC website at www.hgc.gov.ph.
   
   
3. For clarification on the properties for sale and the guidelines for bidding, prospective bidders are invited to attend the pre-bid conference held every 1st and 3rd Thursday of the month, at 2:00 p.m., at the 4th Floor Conference Room.
   
   
4. A bid security shall be paid in cash or manager's check at the HGC Cashier’s Office located at the 2nd Floor Jade Building. Prior to paying, the prospective bidder shall secure a Payment Acceptance Order from the MSD. The amount of bid security shall be based on the corresponding percentage of the selling price of the property, as follows:
   
   

   SELLING PRICE (SP)	BID SECURITY
   Up to Php 3.0Mn	5% of the SP
   Over Php 3.0Mn	10% of the SP

   
   

   A photocopy of the HGC Official Receipt covering the bid security shall be included in the bid proposal to be dropped at the bid box referred to in item no. 6 hereof. The bid securities of disapproved purchase proposals shall be refunded immediately upon award of the property to the winning bidder. Bid security paid by the winning bidder shall form part of the required downpayment for the sale.

5. Terms of Payment
   All properties can be paid either through outright cash, from proceeds of financing by bank/financial institution, or through installment. Properties under Category B can also be subject of lease under HGC’s Rent-to-Own Program.

   5.1. Outright Cash

   1. The winning bidder shall be required to remit full payment of the bid price of the property within five (5) working days from receipt of Notice of Award of Sale (NOAS)

   5.2 Proceeds of Financing by Bank/Financial Institution

   1. A minimum downpayment equivalent to 10% of the bid price shall be required from the winning bidder to be paid within five (5) working days from receipt of NOAS.
   2. The winning bidder shall execute a Contract to Sell (CTS) with HGC for a term of ten (10) years with interest at 6% to 12% per annum depending on the bid price while awaiting release of the loan proceeds. The winning bidder shall pay the required monthly amortization under the CTS until the proceeds of the loan is remitted to HGC.
   3. The winning bidder shall be required to submit a Letter of Guaranty (LOG)/Notice of Loan Approval (NLOA) issued by a bank/financial institution within two (2) months from the execution of the CTS. The winning bidder shall remit the loan proceeds covering full payment of the property within six (6) months from the execution of CTS.
   4. In the event that the loan proceeds are not remitted to HGC within the 6-month period, full payment of the outstanding balance shall be required.
   5. The authority to move in/occupy the property shall only be issued to the winning bidder upon submission of the LOG/NLOA.

   5.3 Installment Scheme

   Applicable only to properties that have one or all of the following characteristics:
   (a) have illegal occupant/s;
   (b) titles/TDs still in the names of the previous owners and for transfer in the name of HGC; and
   (c) titles with liens and encumbrances or with annotation of “lis pendens”.

   5.3.1 HGC In-house Financing

   • Minimum downpayment: 10% of the bid price
   • Balance shall be payable within a maximum period of 15 years, provided that the age of the bidder does not exceed 70 at the end of the contract term.
     
     The following interest rates shall apply:

   SELLING PRICE (SP)	Interest Rate/annum (if paid on or before due date)	Interest Rate/annum (if paid after due date)
   Up to Php 400,000.00	5%	6%
   Above 400,000.00 to Php 2.0Mn	8%	9%
   More than Php 2.0 Mn	11%	12%

   5.3.2 One-Year Installment Scheme

   • Minimum downpayment: 10% of the bid price
   • Balance shall be payable within a period of one year in equal monthly installment at zero percent (0%) interest.

   5.4. Rent-to-Own Program – applicable only to properties under Category B

   • MMinimum monthly lease rate: Based on the appraised lease/rental rate as recommended by the HGC commissioned appraiser
   • Term of Lease: Maximum period of five (5) years
   • Lease rate is subject to a 10% annual escalation
   • Initial cash out: 2 months advance and 2 months deposit (based on the monthly lease rate)
   • The Lessee must exercise his/her option to purchase the property within the 5-year term and pay the published selling price in cash.
   • Portion of payments made by the Lessee during the term of the lease shall be applied as partial payment of the selling price of the property, as follows:

   YEAR	PERCENTAGE OF APPLICATION
   1	100%
   2	90%
   3	80%
   4	70%
   5	60%

6. Bid proposals may be dropped at the designated bid box located at the MSD office until 2:00 pm of every 2nd and 4th Tuesday of the month. All bid proposals received during the said period shall be opened immediately on the same day at 3:00 p.m., at the 4th Floor Conference Room.
   
   
7. The award of sale of the property shall be based on the offer deemed to be most advantageous to the Corporation.

For inquiries, please call the Marketing and Sales Department at telephone numbers 897-31-49 & 897- 32-86 or visit the HGC office at the 4th Floor, Jade Building, 335 Sen. Gil Puyat Avenue, Makati City. The list of the properties may also be viewed at the HGC website, www.hgc.gov.ph.

THE CORPORATION RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS OR TO ACCEPT SUCH BIDS AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE CORPORATION.