CDA loan manager Oscar Camacho told Variety that they received a proposal from a granddaughter of one of the owners of the 1,367-square-meter property in San Jose, Tinian.
“They are paying the $20,000 today [Oct. 21],” said Camacho.
He told Variety the loan amount was $45,174.86, principal and accrued interest.
As CDA welcomed the $20,000 down payment, the proposer agreed to pay approximately $200 monthly rent for the next 15 years.
Camacho also told Variety that the agency had already addressed probate issues on the property and had resolved to proceed to seek judgment.
The agency, Camacho said, also bought the two other properties in Ginalangan, Rota, measuring 850 sq. m. and 900 sq. m., appraised at $2,400 and $2,800 respectively.
Meanwhile, the agency is announcing that the 35,000 sq. m. Talofofo property previously appraised at $281,000 has been subdivided into seven lots of approximately 5,000 sq. m. each.
As nobody stepped forward to bid or purchase the property owing to its price, the CDA board earlier sanctioned the division of the property into smaller lots.
This Talofofo property along with the Kagman Market were used by a CDA borrower as collateral in loans to finance a fishing venture and operation of the market.
Although the agency has yet to dispose of the Talofofo property, Camacho said they were able to sell Kagman Market three years ago for $350,000.
Camacho said it was sold at a higher price because it was an income-producing property in an ideal location.
Among the properties for sale held by CDA include a $42,000 property in Gualo Rai; a 9,384.5 sq. m. lot in Tatgua, Rota last appraised at $75,000; five lots in Tachungya, Tinian measuring 1,085 sq. m., 1,080 sq. m., 1,080 sq. m., 1,089 sq. m., and 1,089 sq. m. respectively and appraised at approximately $22,000 each; 3,000 sq.m. As Lito propery appraised at $42,000; and a 3,000 sq.m. property in As Nieves, Rota valued at $14,700.
Interested buyers should call CDA at 234-6245 for more information.
