Pag-IBIG Fund has extended its Acquired Assets Super Sale until Dec. 31, allowing homebuyers more time to purchase foreclosed properties at discounted prices while implementing new rules aimed at lowering upfront costs and widening participation.
The agency said demand has remained strong since the Super Sale began on Aug. 25, with 44,861 bids received and 18,434 winning bids recorded. A total of 5,074 properties will be published for auction for the remainder of the year.
Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon P. Aliling, chair of the Pag-IBIG Fund Board of Trustees, said the extension and revised rules respond to sustained demand and support President Ferdinand Marcos Jr.’s directive to expand access to affordable, ready-for-occupancy housing.
Under the updated guidelines, Pag-IBIG Fund reduced the required down payment for cash and short-term installment purchases to 3% of the net selling price, from 5% previously. Bidders are also now allowed to submit offers for up to three properties per batch of published listings.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the changes are intended to make homeownership more attainable, including for long-time occupants of foreclosed properties seeking to formally acquire the homes they occupy.
She added that buyers who are not yet ready to purchase may opt for lease arrangements of up to three years, with the required advance rent lowered to one month from two months.
The agency said transactions may be completed through its fully digital public auction system, which allows users to view listings, submit bids and complete purchases online.
Details on available properties, eligibility requirements and auction mechanics are available at www.pagibigfundservices.com/OnlinePublicAuction.
