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How to Purchase HGC Acquired Assets Sold on Retail Basis

  1. Select a property from the published list of available properties for sale.
  2. Prospective buyer should fill-up an Offer to Purchase Form (OPF) and Buyer's Information Sheet (BIS).
  3. 3. A Bid Security (BS) shall be required in the form of cash or manager’s check and shall be paid upon submission of the sealed bids to the Marketing and Sales Department (MSD) of the Asset Management and Disposition Group (AMDG). The amount of BS shall be based on the sales package of the property.


    4. SALES PACKAGE
    BID SECURITY
    Up to P400,000
    P5,000.00
    P400,001 to 2 M
    P10,000.00
    More than P2 M
    P15,000.00

    The prospective buyer should secure a Payment Acceptance Order (PAO) from the MSD before remitting the BS payment to the Cashier.

    The BS shall form part of the downpayment once the offer to purchase is approved. In case the offer is disapproved, the BS shall be refunded to the prospective buyer. On the other hand, should the buyer withdraw his/her approved offer to purchase, the BS shall be forfeited.

  4. Drop the OPF, BIS and PAO covering the payment of BS together with the following documents in a sealed envelope in the bid box located at the AMDG Office, 4th Floor Jade Bldg., #335 Sen. Gil Puyat Avenue, Makati City:

    5. For Individuals:

    1. Photocopy of Community Tax Certificate or Passport or Driver’s License
    2. One 2” X 2” I.D. picture
    3. Proof of Income (Latest ITR stamped received by BIR, Certificate of Employment and Compensation, Certified copy of latest payslip)
    4. Photocopy of Company I.D.

    For Companies/Corporations:

    1. SEC registration, Articles of Incorporation, Business Permit
    2. Audited financial statements for the last two (2) years
    3. Board Resolution and Secretary's Certificate

  5. The buyer may attend the opening of bids being held every Monday at 3:00 PM at the MSD Office.
  6. Evaluation of bids will be undertaken by the MSD.
  7. HGC will notify the bidder of the approval/disapproval of his/her Offer to Purchase.
  8. Upon receipt of the HGC's Notice of Approval, the winning bidder should remit the required downpayment and execute the sales document (Contract to Sell/Deed of Absolute Sale/Contract of Lease) within 7 days from receipt of HGC’s letter.

 

MODE OF PAYMENT

  1. Take-Out by Bank/Financial Institution

    2. The buyer may apply for a housing loan from a bank or any financial institution to settle the balance of the purchase value after deducting the minimum downpayment equivalent to 10% of the selling price to be paid to HGC


  2. Installment Term
    For Assets for legal issues, he buyer may avail of HGC’s In-House Financing Program with the following terms:

    • Minimum downpayment is 10% of the Selling Price
    • Balance may be paid either
      1. Within one (1) year without interest rates; or
      2. Over a maximum of 30 years at the following rates:

    SALES PACKAGE
    INTEREST RATE PER ANNUM
    For Timely Payments For Payments
    After Due Date
    Up to P 400,000
    		 5%
    6%
    P 400,00 to P2M
    		 8%
    9%
    More than P2M
    		11%
    12%

  3. Rent-To-Own

    4. The buyer may apply for a Contract of Lease with Option to Purchase (CLOP) subject to the following conditions:

    • The lease shall be for a non-renewable period of five (5) years.
    • The Leasee can pre-terminate the lease at anytime before the end of the 5th year of the contract and exercise the option to purchase the property either in cash or through a Take-Out by HDMF or any Bank;
    • The purchase price and monthly rental fee will be set by HGC before the execution of the Contract of Lease with Option to Purchase (CLOP);
    • An initial cash out/rental fee equivalent to two (2) months advance and one (1) month deposit shall be paid to HGC;
    • Payments made by the Leasee during the term of the lease shall be applied as downpayment for the purchase of property as follows.

      • Year
      Percentage of Application
      1
      100%
      2
      90%
      3
      80%
      4
      70%
      5
      60%

    • In case the payment credited from the monthly rentals is below the required downpayment, the difference shall be paid by the Leasee in cash.