• View/download the list of properties included in the auction and see if it contains properties you are interested in.

• Do your due diligence. When you find a property that you are interested in, you need to do a reasonable amount of due diligence (property inspection to see extent of repairs needed, check if there are any illegal occupants, checking the titles/tax declarations for any problems, etc.). Always keep in mind that foreclosed properties are for sale on an “As-is, where-is” basis.

• Secure forms so you can participate in the auction. If a property passes your due diligence, and you want to participate in the auction, you need to secure related forms from Pag-IBIG. You will submit these during the auction. (refer to the guidelines for exact forms, and where to secure them)

• On the day of the auction:

  1. Register for the auction/bidding by approaching the technical working group at the auction venue, and follow their instructions/submit all requirements.

  2. Submit sealed bid/proposal that will include the “BIDDER’S BOND either in CASH or MANAGER’S CHECK issued by any commercial bank, in Philippine Currency, payable to Pag-IBIG Fund for an amount equivalent to 5% of the BID PRICE. It shall likewise serve as the down payment of the winning bidder”. Please refer to bidding guidelines for more details.

  3. Opening of sealed bids shall immediately follow the deadline of the submission of bids.

  4. The winning bidder shall be declared – “The bidder who offers the highest bid shall be declared as the winner”. Winning bidders shall proceed with instructions as stated in the guidelines/instructions for bidders.

  5. Bidder’s bond shall be returned to non-winning bidders. As per guidelines: “respective bid bonds shall be returned to them immediately together with an Acknowledgment Receipt once a winning bidder has been declared“.

Disclaimer: This is just a summary, you can visit Pag-IBIG website for the exact step by step.