Auction Enables Overseas Filipinos To Buy Large Philippines Store Building at Bargain Price

Dec. 13, 2012 - PRLog -- MABINAY, PHILIPPINES.  Overseas Filipinos in the USA, Canada, Europe, Hong Kong, Singapore, Japan, Australia, and the Middle East have the opportunity to buy a large Philippines grocery and department store building at a bargain price in the Jan. 11, 2013, building and lot auction, Mabinay, Negros Oriental, Philippines.

The auction will sell the 2,000 square meter Fry Grocery and Department Store building and lot on the National Highway, Lumbangan, Mabinay, Negros Island, rated by Islands Magazine as one of the top twenty islands in the world for foreigner living and retirement.

This solid masonry building cost over US $500,000 to build. The minimum auction bid price is only US $125,000.

Pictures of the outside and inside of the three-level building can be viewed on the home pages of www.negros-island.com and www.real-estate.ph.

To inspect the building and lot in advance of the auction, please phone or text Mr. Hydon Icalina in the Philippines at cell phone 0915-429-4026 (63-0915-429-4026 for international calls), or phone Phillip Fry 1-480-217-7173 in the USA, or email envirodangers@yahoo.com.

The auction procedure is a two round sealed bid auction.  A sealed bid auction is defined as “A type of auction process in which all bidders simultaneously submit sealed bids to the auctioneer by the bid submittal due date, so that no bidder knows how much the other auction participants have bid. The highest bidder is usually declared the winner of the bidding process.”

This Philippines commercial building auction includes two rounds:

Auction Round 1: The first sealed bid from an auction bidder is due by Friday, Jan. 11, 2013, 1 p.m. (Philippines date and time) by either email attachment to envirodangers@yahoo.com, or by FAX to the USA 1-480-275-6316.

Auction Round 2: Upon receipt of the sealed bids, building owner Phillip Fry will on that date email and/or fax the details of the top three bid amounts (but not bidder identification) to all three of the top bidders, who shall have the right, but not the obligation, to submit a Round 2 bid within 48 hours. Such second bid can be higher in bid amount (but not lower than the Round 1 bid made by each bidder choosing to participate in Round 2).

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