Buying a home is a dream many share, but the cost can often feel out of reach.
The Pag-IBIG Acquired Assets program offers an accessible path to homeownership.
Through this program, foreclosed properties are made available at competitive prices.
Whether you’re a Pag-IBIG member or not, you can explore this option and potentially save on your dream home.
This program caters to individual buyers, groups, and even developers looking to invest in properties.
With flexible payment plans and straightforward processes, it’s designed to make homebuying easier for everyone.
What Are Pag-IBIG Acquired Assets?
Pag-IBIG Acquired Assets are properties that have been repossessed due to unpaid housing loans.
These homes are then resold to the public, often at prices lower than the market rate.
The program offers an opportunity for buyers to secure properties within their budget.
Whether you’re looking for a home or an investment, this could be a promising option.
Different Ways to Buy
Pag-IBIG Fund provides several purchase methods to suit your needs:
- Negotiated Sale: Submit an offer for a property and work out payment terms.
- Sealed Public Auction: Compete for properties by submitting a bid, with the highest bidder taking the prize.
- Bulk Sale: Perfect for developers or groups looking to acquire multiple properties in one transaction.
- Group Sale: Allows organizations or groups to purchase homes collectively, making the process smoother.
Step-by-Step Guide to Owning Your Home
Purchasing a property through Pag-IBIG Fund’s Acquired Assets program involves several steps tailored to different modes of sale.
Below is a detailed guide to assist you through each process.
1. Negotiated Sale
Step 1: View Available Properties
- Access the list of Pag-IBIG Acquired Assets on the official website or visit the nearest Pag-IBIG Fund Housing Hub.
Step 2: Inspect the Property
- Personally visit and assess the condition of the property you’re interested in.
Step 3: Submit an Offer
- Complete the Offer to Purchase form:
- For Individual Buyers: OFFER TO PURCHASE (HQP-AAF-212)
- For Juridical/Company Buyers: OFFER TO PURCHASE (HQP-AAF-213)
- Attach copies of valid IDs for the offeror and any authorized representatives.
- If you cannot submit the offer personally, authorize a representative with an authorization letter.
- Include proof of income if opting for Long-Term Installment (LTI) payment.
- Submit the completed form and attachments to the designated drop box at the Pag-IBIG office.
Step 4: Await Results
- Offers are opened as per the schedule on the Pag-IBIG website.
- Successful buyers will be announced on the website.
Step 5: Payment
- Pay a ₱1,000 reservation fee and a downpayment equivalent to 5% of your purchase offer within five days of receiving the Notice of Award.
Step 6: Documentation
- Sign, notarize, and submit the Deed of Conditional Sale and other loan documents to Pag-IBIG Fund.
Step 7: Start Monthly Payments
- Begin monthly amortizations 30 days after signing the Deed of Conditional Sale.
2. Sealed Public Auction
Step 1: View Available Properties
- Check the list of properties under Sealed Public Auction on the Pag-IBIG website or visit a Housing Hub.
Step 2: Inspect the Property
- Visit and evaluate the property’s condition.
Step 3: Submit a Bid
- Complete the Offer to Bid form:
- For Individual Buyers: OFFER TO BID (HQP-AAF-326)
- For Juridical/Company Buyers: OFFER TO BID (HQP-AAF-327)
- Attach copies of valid IDs for the bidder and any authorized representatives.
- If unable to submit personally, appoint a representative with a Special Power of Attorney (SPA).
- Submit the bid form and attachments to the designated drop box.
Step 4: Await Results
- Bids are opened according to the schedule on the Pag-IBIG website.
- Winning bidders are announced online.
Step 5: Payment
- Pay a Bid Bond equivalent to 5% of your bid offer within three days of receiving the Notice of Award.
Step 6: Documentation
- Sign, notarize, and submit the Deed of Conditional Sale and other required documents.
Step 7: Start Monthly Payments
- Commence monthly payments 30 days after signing the Deed of Conditional Sale.
3. Bulk Sale
Step 1: View Available Properties
- Access the list of properties eligible for Bulk Sale on the Pag-IBIG website or at a Housing Hub.
Step 2: Inspect the Properties
- Visit and assess the condition of each property you’re interested in purchasing.
Step 3: Submit an Offer
- Complete the Offer to Purchase form suitable for Bulk Sale.
- Attach copies of valid IDs for the offeror and authorized representatives.
- If you cannot submit personally, authorize a representative with an authorization letter or SPA.
- Include proof of income if choosing Long-Term Installment (LTI) payment.
- Submit the completed form and attachments to the designated drop box.
Step 4: Await Results
- Offers are reviewed as per the schedule on the Pag-IBIG website.
- Successful buyers will be listed online.
Step 5: Payment
- For Bulk Sale:
- Pay a 5% downpayment and a ₱5,000 Cash Bond per unit within five days of receiving the Notice of Award.
Step 6: Documentation
- Receive the Notice of Approval of Sale.
- Sign, notarize, and submit the Deed of Conditional Sale and other loan documents.
Step 7: Start Monthly Payments
- Begin monthly amortizations 30 days after signing the Deed of Conditional Sale.
4. Group Sale
Step 1: View Available Properties
- Check the list of properties eligible for Group Sale on the Pag-IBIG website or visit a Housing Hub.
Step 2: Inspect the Properties
- Visit and review the condition of each property that your group intends to purchase.
- Discuss and plan as a group to identify which properties best meet your collective needs.
Step 3: Submit Your Offer
- Complete the Offer to Purchase form for Group Sale transactions.
- For juridical or company buyers, use OFFER TO PURCHASE (HQP-AAF-213).
- Attach valid IDs for all members of the group or their authorized representatives.
- If members are unable to submit personally, appoint a representative with an authorization letter or SPA.
- Submit the completed form along with required attachments to the designated drop box.
Step 4: Await Results
- Submissions will be reviewed, and successful offers will be announced on the Pag-IBIG website.
- The winning group will receive a Notice of Award with further instructions.
Step 5: Payment
- Pay a ₱1,000 reservation fee within five days of receiving the Notice of Award.
- For short-term installment or cash payments, provide a 5% downpayment based on the collective purchase offer.
Step 6: Finalize Documentation
- Sign, notarize, and submit the Deed of Conditional Sale and other necessary documents.
- Work as a group to ensure all requirements are fulfilled promptly.
Step 7: Start Monthly Payments
- Begin monthly amortizations as scheduled, typically 30 days after the Deed of Conditional Sale is signed.
- Members of the group can coordinate payment responsibilities to maintain compliance.
Payment Options Tailored to You
Pag-IBIG Fund offers various payment methods to match your financial situation:
- Cash Payment: Pay the full amount upfront and enjoy discounts.
- Short-Term Installment: Spread payments over 12 months with fixed terms.
- Long-Term Installment: Choose payment plans of up to 30 years, depending on your financial capacity and age.
This option requires proof of income to confirm your ability to meet the monthly dues.
Who Can Apply?
This program is open to everyone, but there are guidelines for eligibility:
- Pag-IBIG Membership: Active members with at least 24 monthly contributions can apply.
- Age Requirement: Applicants must be at least 18 years old.
- Financial Capacity: Proof of income is needed to qualify for long-term payment plans.
- No Existing Housing Loan: Applicants should not have any outstanding housing loans with Pag-IBIG.
- Good Standing: Applicants with no history of foreclosed Pag-IBIG properties are encouraged to apply.
General Reminders for All Modes of Sale
- “As-Is, Where-Is” Basis: All properties are sold in their current condition. Make sure to inspect thoroughly before submitting your offer.
- Complete and Accurate Documentation: Submit all required documents and forms to avoid delays or disqualification.
- Adhere to Deadlines: Pag-IBIG Fund strictly follows the schedules outlined for submissions, payments, and document signing.
- Budget Accordingly: Account for additional costs like repairs, property taxes, and other fees when calculating your total investment.
Tips for a Smooth Purchase
- Do Your Research: Review the property listing and inspect the homes to avoid surprises.
- Plan Your Budget: Consider all potential costs, including renovations, taxes, and monthly payments.
- Meet Deadlines: Submit documents and payments within the given timelines to secure your offer.
- Ask for Help: Reach out to Pag-IBIG representatives for any questions or clarifications.
Owning a home may feel like a daunting process, but with Pag-IBIG Acquired Assets, it’s a journey worth taking.
Your new home could be just a few steps away.
Video: Turning Dreams Into Homes: Affordable Housing Through Pag-IBIG Acquired Assets
This program offers foreclosed properties at competitive prices, allowing buyers to achieve their dream of homeownership without breaking the bank.
Whether it’s through Negotiated Sale, Public Auction, Bulk Sale, or Group Sale, Pag-IBIG Fund provides straightforward options tailored to diverse needs.
For Janine, a young mother and minimum-wage earner, Pag-IBIG made it possible to move into her very first home, proving that dreams of owning a house can become reality.
Step into your own journey and discover how Pag-IBIG Acquired Assets can help you achieve your forever home!