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How to Purchase from 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. A Bid Security (BS) shall be required in the form of cash, personal or manager’s check and shall be paid upon submission of the sealed bids to 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 P400,000.00
    P5,000.00
    P400,001.00 to 2.0M
    P10,000.00
    More than P2.0M
    P15,000.00

    The prospective buyer should secure a Payment Acceptance Order (PAO) from the AMDG 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 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 Ave., 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 IT 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 statement 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 AMDG Office.
  6. Evaluation of bids will be undertaken by the AMDG
  7. HGC will notify the prospective buyer of the approval/disapproval of his/her Offer to Purchase.
  8. Upon receipt of the HGC's Letter of Approval, the buyer should comply with the terms of approval, which includes among others the remittance of the downpayment and execution of the sales document (Contract to Sell, Deed of Absolute Sale) within 7 days from receipt of HGC’s letter.
MODE OF PAYMENT
  1. Cash Sale and Discount

    2. The total selling price may be paid in cash and buyers shall be entitled to discounts, as shown below:

    Payment Period
    Discount Rate
    Spot Cash
    (Within 5 days from receipt of HGC’s notice of approval)
    15%
    Within 30
    days from receipt of HGC’s notice of approval
    10%
    Within 60
    days from receipt of HGC’s notice of approval
    6%
    Within 90
    days from receipt of HGC’s notice of approval
    3%
  2. Installment

    3. The buyer may avail of HGC’s In-House Financing Program with the following terms:

    • Minimum downpayment is 10% of the Contract Price
    • Remaining balance may be paid up to a maximum of 30 years at the following rates:

      • SALES PACKAGE
      INTEREST RATE PER ANNUM
      ( if paid on due date)
      INTEREST RATE PER ANNUM
      ( if paid before due date)
      Up to P 400,000.00
      6%
      5%
      P 400,001.00 to P2.0M
      9%
      8%
      More than P2.0M
      12%
      11%

    • Full payment of the total contract price in twelve (12) equal monthly amortizations, at no interest, is allowed subject to a minimum equity of 10% of the total contract price which should be paid upon signing of the sales document.

  3. Take-Out by Bank/Financial Institution

    4. The buyer may apply for a housing loan from a bank or any financial institution to settle the balance of the purchase value provided a downpayment equivalent to 10% of the contract price shall be paid to HGC.

  4. Rent-To-Own

    5. HGC’s acquired assets may be leased to qualified applicants who shall enter into a Contract of Lease with Option to Purchase (CLOP) subject to the following:

    • The CLOP shall be for a maximum period of five (5) years However, the LESSEE can pre-terminate the lease at anytime before the end of the 5th year of the contract and exercise his option to purchase the property in cash or thru a housing loan from any financial institution;
    • The purchase price and monthly rental fee for the property shall be determined and set by HGC before execution of the CLOP;
    • Initial cash out: 2 months advance and 1 month deposit (rental fee) ; and,
    • Payments made (net of penalties) by the Lessee 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 Lessee in cash.