CDA loan manager Oscar M. Camacho said the auction of foreclosed properties may be held soetime in the middle of October.
He said there were no winning bids during the Sept. 2 auction when CDA put up for bid the 1,367 sq. m. property in San Jose, Tinian whose value was last appraised at $113,000.
Camacho said, “CDA declined to accept the bid offer of $25,000. The outstanding debt amount is over $44,000 and the property is appraised at $113,000.”
He said there was only one who came forward with an offer.
“She started at $10,000, increased it to $15,000, then to $20,000 and finally stopped at $25,000. And every offer was rejected by CDA which made it extremely difficult for both sides,” Camacho said.
CDA was hoping to garner an offer similar to what it is owed or close to it, he added.
Camacho said they will try another auction next month to include the other properties on Rota and Tinian which failed to pique the interest of bidders in the Sept. 2 auction.
These properties are the 1,322 sq. m. lot in Marpo, Tinian last appraised in 2008 at $70,000; 850 sq. m. property, with an appraised value of $2,400; and 900 sq. m. property, $2,800, both properties located in Ginalangan, Rota.
Interested bidders may contact CDA at 234-6245.
