Before stepping into the bidding arena, HousingInteractive emphasizes the importance of understanding local real estate market dynamics. Spanning across locations from Makati City to Mandaue City in Cebu Province, and even Davao City in Mindanao, the company recommends that potential bidders conduct comprehensive research to assess typical prices and demand levels. This insight will guide the development of a refined bidding strategy.
HousingInteractive Asset Listing
HousingInteractive, a leading name in the real estate industry, is thrilled to announce an exclusive opportunity for investors, developers, or high-net-worth individuals (HNWI) to dive into the competitive world of real estate bidding with confidence and strategic expertise. With a focus on properties across prime locations, including commercial, residential, and mixed-use properties, HousingInteractive is set to guide participants through the intricacies of bidding to secure their next investment with precision.
1. Timeline
Bidding Period
Pre-bid Meetings, crucial for elucidating project specifics and addressing bidder inquiries, have been meticulously scheduled from May to June 2024. The official Bid Period began on May 4, affording interested parties sufficient time to prepare and submit proposals, concluding on June 26.
Bid Opening
Following this, the eagerly awaited Bid Opening is scheduled for June 27, signifying the commencement of the evaluation and scrutiny phase. Subsequently, an Internal Discussion session is set for July 15, during which key stakeholders will engage in deliberations and strategic planning based on the submissions received.
Awarding & Earnest Money Acceptance
The next phase includes the pivotal steps of Awarding & Acceptance of Earnest Money, expected to be finalized by July 30, setting the stage for the thorough Title Clean-Up procedures scheduled for August 2024.
Latest Downpayment Deadline
Lastly, participants are reminded that the Latest Downpayment deadline is firmly set for December 2024 to ensure timely compliance and progression of the project.
2. Rules of Bidding
Pre-Bid
The broker must obtain exclusive authorization from the buyer before initiating any transactions. It is imperative to clarify that each client may only have one broker representing them. Furthermore, all properties are sold in their current condition (“as-is”), and buyers are advised to conduct physical inspections before finalizing a decision.
Bidding
All bids for properties must adhere to the Rules of Bidding, meeting or exceeding the specified floor price in the Project Brief. Submit sealed bids with Manager’s Checks as earnest money by 10 am on June 27, 2024. The bids will be opened at 3 pm on the same day, and once submitted, bids are final and non-retractable. Winners will be announced post-management assessment and board approval, considering payment terms and other factors affecting the awarding decision.
Payment
The tax and fee arrangement specifies that the buyer is responsible for VAT/CGT, DST, EWT, registration fees, transfer taxes, notarial fees, and other incidental fees. The seller covers the commission and RPT up to the time of sale. Payment options include spot cash with a 2% retention upon turnover, a minimum 25% down payment (excluding earnest money), and the remaining balance payable within one year with a 2% retention if necessary. The winning bidder must deposit the agreed down payment within 60 days of the award, and the balance should follow the approved payment terms.
Other Items
The seller reserves the right to reject bids, overlook deficiencies, and approve those most beneficial to the company. No obligation exists for compensating parties for expenses or losses incurred during the bidding process. Brokers not representing developers will not be recognized. Total commission rates remain unchanged in the presence of co-brokers. Tenants, if any, must vacate the property within one year from the sale date.
3. Rules for Private Offering
To ensure smooth transactions, a single broker must exclusively represent each client. Private offering assets will have reference prices instead of floor prices, allowing offers below the reference prices. Earnest money of 5% will be collected and refunded if not awarded, payable to the seller via Manager’s Check. Properties are sold as-is where-is, and buyers are urged to inspect after scheduling with the seller. Offer prices should exclude taxes.
Buyer covers VAT, registration fees, transfer taxes, and DST EWT, while Seller handles commissions and RPT up to the sale. Payment options include immediate cash payment, a 25% down payment with the remainder due within a year, or a 50% down payment with the rest payable over two years. Successful buyers must pay the agreed-down payment within 60 days and complete the remaining balance based on the approved terms.
4. Commission Sharing Tranches
Real Estate Commission Sharing refers to the practice of real estate agents dividing a set percentage of the sales commission earned when a property deal is successfully closed.
Property Brief
Commercial / Residential
110 Legazpi (Twin Cities Condominium), Barangay San Lorenzo, Makati City
110 Legazpi or the Twin Cities Condominium is situated in the bustling Makati CBD at Barangay San Lorenzo. It offers luxury commercial properties boasting city skyline views and 70s-themed office spaces with wooden floors. The amenities include high-speed internet, elevators, and top-notch security for your convenience.
It offers an advantageous location close to key landmarks and transportation hubs, including Bonifacio Global City (BGC), Metro Manila Skyway, and South Luzon Expressway (SLEX). Enjoy vibrant living with Ayala Center nearby & easy access to upscale shopping at SM Makati, Landmark, Glorietta, and Greenbelt. Relax at nearby parks like Greenbelt Park, Washington SyCip Park, and Legazpi Active Park. Explore cultural gems at Ayala Museum & Sto. Nino de Paz Chapel. Several dining spots like Italliani’s, Wildflour, Cafe Via Mare, and Jasmine Restaurant are conveniently located in the area.
Persimmon Plus, Mandaue City in Cebu Province
Mandaue City in Cebu, known for its focus on manufacturing, trade, and tourism, hosts renowned educational institutions like the University of San Carlos and the Cebu Institute of Technology. The city boasts a rich cultural heritage with various historical sites and landmarks. Popular tourist spots include Mandaue City Hall, Fuente Osmeña Circle, and the Taoist Temple. It is a vibrant and cosmopolitan destination, offering a wealth of experiences to both visitors and residents.
The Persimmon Condominium in Mandaue offers comfort, luxury, and convenience in a strategic location for easy city access. With extensive amenities catering to adults and children, Persimmon Plus provides cozy spaces conveniently situated near Ayala and SM City Cebu, this ensures a comfortable and secure urban village community.
Commercial
Arca South, Western Bicutan, Taguig City
Arca South is a meticulously planned 74-hectare community in Taguig, formerly part of Food Terminal Inc. and now owned by Ayala Land. Strategically situated near NAIA airport, Makati City, and Bonifacio Global City, Arca South boasts shopping malls and attractions like The Mind Museum and Bonifacio High Street. This mixed-use development offers residential, office, commercial, and retail spaces to cater to diverse needs.
Residential
Streets in Barangay La Paz
Barangay La Paz in Makati offers a convenient community with local stores and businesses. Situated in Makati City’s business hub, residents have easy access to restaurants, malls, cafes, banks, and more. La Paz Village is ideal for those seeking a residential setting with city amenities nearby.
Cervera Street
ABCD St.
Streets in Barangay Singkamas
Located in Barangay Singkamas, this area in Makati City boasts proximity to Chino Roces Avenue (formerly Pasong Tamo). Despite being one of the smallest among the 33 Barangays in the city, this residential district covers a land area of 12.59 hectares.
Yague St.,
Acacia, Davao
Acacia is a barangay located in Davao City, part of the Davao Region (Region XI) in Mindanao. The area had a population of more than 6,014, accounting for 0.34% of Davao City’s total population. The postal code for Acacia is 8000.
San Francisco, Lipa, Batangas
San Francisco is part of Lipa in Batangas Province. The district has modern amenities and a rich cultural heritage, with bustling markets and picturesque streets. With over 3000 residents, San Francisco makes up 0.83% of Lipa’s population.
Mixed Use + Residential
ACO Banilad
Aboitiz & Company, founded by Paulino Aboitiz in the 1800s, started as a trading entity. It invests across seven sectors: Electricity, Banking, Food, Land, Construction, Shipping, and Infrastructure.
ACO Banilad, a division of Aboitiz & Company, is situated close to Cebu IT Park and Cebu Business Park. Surrounding ACO Banilad are recreational areas like the Cebu Country Club and educational institutions like the University of Southern Philippines Division. ACO Banilad boasts modern amenities, high-speed elevators, advanced security, and ample parking for convenience.
Join Us
We invite you to join us at this pivotal event. For more information on our listings or to discuss your bidding strategy with an expert, contact HousingInteractive today. Our team is dedicated to guiding you through the complexities of real estate bidding, ensuring you make decisions that align with your investment goals and financial capabilities. Seize the chance to elevate your real estate investment portfolio with HousingInteractive.
