Purchasing Pag-IBIG-acquired assets through negotiated sales is one of the most affordable ways to own a home in the Philippines, offering discounts of up to 45% depending on your payment method.
What is a Assets Acquired by Pag-IBIG?
Pag-IBIG Acquired Assets are properties that were originally financed through Pag-IBIG housing loans but have been foreclosed due to the borrower’s failure to pay the monthly amortizations. These properties are now owned by the Fund and are made available for sale through public auctions.
You may have considered buying a home but haven’t been able to do so due to financial constraints. If this is the case for you, you should consider assets acquired by Pag-IBIG. Assets acquired by Pag-IBIG are typically priced relatively low compared to market value. Many of these assets are located in strategic locations, such as urban and suburban areas, making them highly sought after. So, act quickly to purchase one without hesitation.
How to check assets acquired by Pag-IBIG
Before deciding to buy, you should check what types of homes are available. You can find this on the Pag-IBIG Fund website. The list of assets acquired by Pag-IBIG is updated every Tuesday and Friday for National Capital Region (NCR) accounts and every Friday only for provincial accounts.
Here’s a detailed guide:
The first thing to do i, visit the Dana Pag-IBIG website and click on “Property Finder.” Or you can go directly to the Acquired Assets page here.
Next, On the Pag-IBIG Acquired Assets page, click “Properties Under Negotiated Sale” on the right side.
After that, Choose your desired location (province and municipality) from the dropdown box as well as the price range.
Then, The search results will give you some important information about the properties such as:
- Subdivisi – nama subdivisi tempat properti tersebut berada
- Lokasi – alamat subdivisi
- Cabang Rekening – kantor Pag-IBIG yang bertanggung jawab atas properti dan penjualannya
- Nomor Kontak – nomor telepon kantor Pag-IBIG yang dapat dihubungi untuk pertanyaan
- Data Per Tanggal – tanggal terakhir informasi properti diperbarui
You can then click on the link on the right side of the property you selected for more information about that property.
To conclude the process, A pop-up window will appear with additional information about the property, such as land area, building area, price, property type, status, and notes.
After that, you can see the price list listed on the website. The listed price is the property value and is subject to change depending on the payment method, which can be cash, installments, or a Pag-IBIG housing loan. If you pay cash, you receive a 30% discount on the listed price, payable within one month. For installment payments, you can receive a 20% discount for a payment period of up to 12 months, with an interest rate of 1% per month or 12% per year. Furthermore, if you take out a Pag-IBIG housing loan, you can receive a 10% discount, payable over up to 30 years, provided the borrower is not over 70 years old at the loan maturity date.
Apart from that, you can also print the information by pressing the “print” button provided.
Steps in Purchasing Pag-IBIG Acquired Assets Under Negotiated Sale
The following are the steps to purchase assets acquired by Pag-IBIG:
First, reserve a property and pay a non-refundable reservation fee of ₱1,000.
Then, bring a valid form of identification such as a company ID, driver’s license, passport, etc. for verification.
Choose one of the following payment methods:
- Cash – 30% discount, payable within one month
- Installment – 20% discount, payable up to 12 months with 12% interest per year
- Housing loan – 10% discount for eligible Pag-IBIG Fund members, payable up to 30 years
If you wish to purchase a property through a Pag-IBIG housing loan, you must submit the required documents within 30 days of paying the reservation fee. Pay a processing fee of ₱2,000 and a stamp duty of ₱100.
After that, receive the Loan Approval Letter and pay one year’s insurance premium upfront within 30 days.
Lastly, Prepare and submit a legalized Conditional Sale and Purchase Deed and other mortgage documents that prove the loan to Dana Pag-IBIG.
Some Important Tips and Reminders for those of you who are going to buy assets on Pag-IBIG
Purchasing assets on Pag-IBIG isn’t as simple as 1, 2, 3, and then paying. Be a wise buyer; you need to conduct due diligence before investing your hard earned money. Here are some things to consider:
- Inspect the property in person before making a reservation or purchase.
- Properties are sold on an “as-is” or “what you see is what you get” basis. This means that some properties may have damage or may require some repairs to make them habitable.
- If possible, try to speak with the previous owner to find out the reason for the foreclosure.
- You can also seek the assistance of a real estate professional, engineer, or architect to assess the property.
- You may also need to consider incidental costs such as local taxes, registration fees, and repairs and maintenance.
- If you take out a Pag-IBIG home loan, brokers and real estate agents are prohibited from accepting or collecting any payments, including down payments and reservation fees.
- You can use the amortization calculator to calculate your monthly payments. Pay directly to the Pag-IBIG Fund office.
Purchasing assets acquired by Pag-IBIG is a wise way to acquire a home or expand your investments. Real estate typically appreciates in value over time, so a property you buy for less than a million pesos could be worth several million pesos in a few years.
If you have any questions or further information regarding Pag-IBIG, please contact and access customer service at (02) 724-4244 or send an email to contactus@pagibigfund.gov.ph.