CDA loan manager Oscar C. Camacho told Variety that the auction is set for April 15 at 2 p.m. in the conference room of CDA.
He said, “We’re putting out two more advertisements next week.”
He confirmed to Variety that the 1,022-sq. m., two-story Antonio A. Arriola building in Garapan, and the two properties on Rota — the 928-sq. m. property in Songsong and 25,000-sq.m. Ichenchon property — are still up for auction.
Based on an appraisal in Feb. 2011, the Arriola building was valued at $141,000; Songsong property, $35,000 and Ichenchon property, $25,000.
Previously, the Variety also announced the planned auction of a Tinian property; however, Camacho said this was rescheduled.
“We have not received a writ of execution yet from the court,” said Camacho adding that they may be looking at holding another auction in May.
Variety learned that one of the two boats — the 20-foot white fiberglass boat named Santa Remedio with trailer — advertised for auction had been withdrawn.
Camacho said the owner made an “owner-arranged type of sale.”
He also declined to divulge the purchase price. He said, “Owner was agreeable in accepting [the sale] and it was credited to his account. It was an acceptable price.”
According to the notice of auction issued on March 10, the auction is open to the public with no minimum opening bid with the auction held in reserve.
Further, the notice stated that the auctioneer — the Commissioner of the Department of Public Safety — has the rights and duties to withdraw the property listed for sale in the announcement before sale or bid for the property is accepted. Auctioneer can also adjourn the sale without notice at any time without incurring liability. Also, on behalf of the seller (CDA), auctioneer can reject any or all bids.
Tentative bids, the notice stated, can be submitted in advance and shall not be binding except that the highest of the bids will automatically be considered the opening bid for the item.
Bids may be submitted — in person, in writing, or by phone call to CDA executive director Manuel A. Sablan at their office on Middle Road or call 234-7145 or fax to 235-7147. Alternatively, bids can be submitted to F. Matthew Smith at PO Box 501127 Saipan MP 96950 or call 234-7455 or fax to 234-7256.
The notice further indicated that the bidders are cautioned to inspect the title and property and make arrangements with CDA for ocular inspections.
“Failure to inspect the real property or its title will not constitute ground for any claim, adjustment or rescission by any buyer,” the notice said.
Although there was a last ditch effort from an heir of a 38,000-sq.m. I-Denni property, the CDA decided in its board meeting Tuesday to approve a proposal from a buyer who bought the property for $114,000 — the current appraised value.
During the Tuesday board meeting, Camacho told the board of a proposal from an heir of the original owner of the property. He said he received the call prior to the meeting and he said he felt the need to inform the board of the said proposal.
CDA Development Corporation Chairwoman Merced “Marcie” Tomokane said the owner has one year to buy back the foreclosed property; however, Camacho said the grace period had already expired.
In the previous CDA meeting, the board sanctioned a request by Camacho to parcel out the 38,000-sq.m. property — along with a 35,116-sq.m. Talofofo property — into 5,000-sq.m. lots to make them easier to dispose of.
With a proposal surfacing recently to buy the entire property intact, the board had to “undo” what it had decided in that meeting and voted in favor of the new proposal.
Tomokane said it’s very rare to find someone to come in and purchase a foreclosed property at the current appraised value; however, she said the board had to “undo” what it did in the last meeting to accept the offer.
“It’s ironic. We have been entertaining requests for this particular foreclosed property. On the 13th hour the original landowner or heirs of the original landowner is telling us that they are interested. If they are serious buyers or takers, they should have come forward.”
CDA Chairman Pedro I. Itibus said he spoke with the heir of the original owner saying he would be available for a meeting should the heir decide to discuss his proposal with him. Itibus said the heir failed to show up.
“I believe we must move forward and try to dispose of this issue right now,” he told the members of the board as it voted to move the discussion of the proposal to an executive session.
In an interview with Variety yesterday, CDA Executive Director Manuel A. Sablan said the board approved the sale of the property for $114,000 with a 5 percent initial payment with the remainder payable in 15 years at 5 percent per annum.
