Why Do I Need PHP 25k Just to Enter the Room?

You’ve browsed the catalog. You’ve found a house in Antipolo you love. You check the requirements and see this rule in bold: “NO DEPOSIT, NO PARTICIPATION”.

It intimidates many first-timers. Why does the bank need PHP 25,000 upfront? Is it a fee? Do you lose it?

Let’s clear up the confusion.

It’s Not a Fee, It’s a Filter

The PHP 25,000.00 (Cash or Manager’s Check) is Show Money.

• If you lose: You get the check back immediately. It costs you nothing.
• If you win: It is deducted from your total purchase price.

The bank requires this to ensure that everyone holding a paddle is a serious buyer. It prevents “joy bidders” from inflating prices artificially. When you bid at a PropertyAuctions.ph event, you know the person bidding against you has real skin in the game.

What Else Do I Need to Bring?

Aside from the deposit, compliance is strict but simple. To register, you must present:

1. Proof of Income: This can be an ITR (Income Tax Return), Certificate of Employment, or Bank Statement.
2. Authorization: If you are bidding for your spouse or a corporation, you must bring a Letter of Authorization.

For Brokers: You must be present during the auction to be eligible for commission.

Can I Bring Cash?

Yes, the terms allow for PHP 25,000.00 Cash or Manager’s Check only. However, for safety and ease, we highly recommend a Manager’s Check payable to the bank.

Ready to Bid?

Don’t let the logistics scare you. The deposit is your ticket to a fair, transparent marketplace.