The auction involves the sale of four properties: a 745 sq. m. property with Lot. No. I 494 on Atmayas St. in Koblerville; Lot. No. 017 D 35 in Sugar King Park, Chinatown; 1,486 sq. m. property in San Jose, Tinian; and 907 sq. m. property in San Vicente.
The previously appraised property at $80,500 in Koblerville now commands $33,640.48.
The three-bedroom, one-bathroom house in Chinatown was last appraised at $67,900 but is now being sold at a minimum bid of $24,060.10
From $84,000, the San Vicente house sitting next to San Vicente Church and facing Isa Drive now commands a $47,366.74 minimum bid.
The $92,800 San Jose property will command an opening bid of $72,955.75.
These four properties were part of the 23 auctioned off last Oct. 4 where NMHC managed to sell six and bought back 13 properties.
The 23 properties were part of the 32 accounts that NMHC bought back from U.S. Department of Agriculture Rural Development program.
12 of the 32 accounts bought are still occupied while 20 homes have long been abandoned.
According to NMHC credit and mortgage manager Jesse Palacios, it has been NMHC’s policy to buy unsold properties on the third auction.
He told Variety last Thursday that the nine remaining accounts out of the 32 have yet to go through the process of foreclosure.
During the Nov. 3 board meeting at the NMHC office in Garapan, Palacios told the board, “We are going to send out notices of default today [Nov. 3].”
Five of the nine accounts are properties in Kagman while four are in San Vicente, Kobler, Chinatown, and San Jose.
Palacios also confirmed to Variety that the 949 sq. m. property in As Matuis separately auctioned off on Sept. 27 had already been sold for $80,000.
NMHC board chairwoman Merced “Marcie” Tomokane instructed Palacios to take photos of the said houses and to show improvements made, and to identify their locations and to make a presentation before the board “so we can decide how much we can offload the properties or consider lease to own…until the market picks up then we can sell.”
She also told the board, “If we cannot sell it for the price that we bought it for then we will have to hold it for a while.”
For more information on properties for sale and housing loans, call the housing agency at 234-6866/9447/7670/7689 or email [email protected].
For those interested to send bids to the four properties, sealed bids will be accepted until 4 p.m. of Nov. 28 while untimely sealed bids will be rejected.
