• Place: The auction will take place at notary office Mingo at the Fouress Building Suite 4D, Emmaplein 4, Philipsburg on Sint Maarten.
  • Date: Wednesday, June 26th, 2024 as of 10.00 hours a.m.
Auction Date: 
Jun 26 , 2024
Time: 
10.00 hours a.m

IMMOVABLE PROPERTY 1 ON SINT MAARTEN

TO BE AUCTIONED BASED ON AN EXECUTORIAL LIEN/ATTACHMENT RULED BY THE COURT OF FIRST INSTANCE ON SINT MAARTEN

A parcel of land having an area of TWO THOUSAND AND NINETEEN SQUARE METERS (2019m²), situated on the Island of Sint Maarten, in the district of Upper Princes Quarter, in the area known as Gibb’s Land, known as lot 21 of the subdivision of Red Pond Estates N.V., described further in certificate of admeasurement number SXM UPQ 302/1989, with all appurtenances thereto, hereafter referred to as "property 1".

Reserved price for aforementioned immovable property 1 (being the minimum bid) will be TWO HUNDRED EIGHTY-TWO THOUSAND AND TWO HUNDRED AND FIFTY-ONE DOLLARS CURRENCY OF THE UNITED STATES OF AMERICA (US$.282,251.00).

Potential buyers cannot submit a private bid

An appraisal report will be available on website www.notarymingo.com or upon request

The sales will take place under the customary auction conditions which are, by raised bid (in Dutch: “middels opbod”) subsequently by Dutch bid (in Dutch “afmijnen”) in one (1) session. The general as well if any special conditions on the auction, will be available at Notary office Mingo situated at the Fouress Building, Emmaplein, Philipsburg.

Every bidder or potential buyer (even when bidding for someone else) is required to contact notary Mingo on the legal requirement since all requirements including payment of a notary’s invoice will have to be deposited into the escrow account of notary Mingo and therefore you are required to contact notary office Mingo at info@notarymingo.com as of this date.

Anyone wanting to bid at the public auction will need to meet legal requirements in order to participate in the bidding process, since the bidder has to identify him or herself and provide the civil law notary with a written guarantee by a banking institution (for example a bank letter/or banker’s check) and have at least 10% of the bid you wish to place at the public auction, deposited into the escrow account of the notary ultimately on the day of the public auction. The bank guarantee should cover the payment of the bid including the additional and affiliated auction charges to be requested at notary office Mingo which are for the buyer (as stipulated in the general auction conditions of civil law notary Mingo). Civil law notary Mingo withholds the right to accept or deny any (private) bidder to partake in the bidding process or private bidding in the process of the public auction.

The buyer (successful and accepted bidder) shall pay the notarial fee, the registration stamps, the disbursements, transfer tax, cancellations of mortgage(s), annulment of attachment(s), costs and charges of the notarial authentic report(s) of the auction and the conveyance of title to and the registration of the immovable property in the name of the buyer in the Public Registers, deed of assignment (in Dutch: "Akte de Command"), deed of acquittance, the aforementioned bankguarantee, and remaining costs and charges pursuant to the general and particular conditions of the auction including the 1% Central Bank license fee if applicable and all banking charges involved to make payments to all third parties related to this sale at the public auction.

Interested parties are strongly advised/recommended to:

  • (i) in the event the bidder wishes to attend the public auction and participate, to review the auction conditions before attending the auction;
  • (ii)to start requesting their bank guarantee at least four (4) weeks prior to the auction, come with a banker’s check or have the funds (being the amount of the bid the buyer wishes to place) deposited into the escrow account of the notary prior to the day of the public auction

Descriptions are based on available evaluation reports, as some items may have not been (possible to be) inspected inside, and the given information might therefor not be accurate and buyers cannot hold the notary liable for the state of the immovable property.