Auction Date: Jun 28 , 2023
Immovable property in Cole Bay Sint Maarten
Wednesday, June 28th, 2023 as of 10:00 a.m., - Suckergarden Road 25IMMOVABLE PROPERTIES ON SINT MAARTEN
TO BE AUCTIONED EX ARTICLE 3:268 OF THE CIVIL CODE OF SINT MAARTEN
One right of apartment, including the right of exclusive use of a commercial unit partly on the ground floor and partly on the first floor, consisting of one commercial space and one bathroom, cadastrally described as follows: Complex Indication: Certificate of Admeasurement numberSXM CB 441A/1990 apartment index 4 (also known as SXM CB 441/1990 apartment index A4), with the Ninety-Six/Seven hundred and twenty-first (96/721) part of the common property consisting of the building, the subsoil and the surrounding grounds, in the district of Cole Bay at Sint Maarten, at the time of the division cadastrally known as Certificate of admeasurement number SXM CB 404/1990, hereinafter referred to as “property 1".
One right of apartment, including the right of exclusive use of a commercial unit on the ground floor, consisting of one commercial space and one bathroom, cadastrally described as follows: Complex Indication: Certificate of Admeasurement number SXM CB 441A/1990 apartment index 5 (also known as SXM CB 441/1990 apartment index A5), with the Thirty- Three/Seven hundred and twenty-first (33/721) part of the common property consisting of the building, the subsoil and the surrounding grounds, in the district of Cole Bay at Sint Maarten, at at the time of the division cadastrally known as Certificate of Admeasurement number SXM CB 404/1990, hereinafter referred to as “property 2".
One right of apartment, including the right of exclusive use of a Commercial unit partly on the ground floor and partly on the first floor, consisting of one Bank space and stair case on the ground floor and two bathrooms, one kitchen, with diningroom and a storage on the first floor, cadastrally described as follows: Complex Indication: Certificate of Admeasurement number SXM CB 441A/1990 apartment index 6 (also known as SXM CB 441/1990 apartment index A6), with the Three hundred and thirty-eight /Seven hundred and twenty-first (338/721) part of the common property consisting of the building, the subsoil and the surrounding grounds, in the district of Cole Bay at Sint Maarten, at the time of the division cadastrally known as Certificate of Admeasurement number SXM CB 404/1990, hereinafter referred to as “property 3". Property 1, property 2 and property 3 are to be sold inextricably and are hereinafter jointly referred to as the “immovable property”.
Reserve price for the immovable property (being the minimum bid) will be THREE MILLION DOLLARS CURRENCY OF THE UNITED STATES OF AMERICA (US$.3,000,000.00)
Potential buyers may enter a private bid, addressed to the notary, on immovable property to be submitted along with all legal required compliance to the notary on or before June 14th,2023 at noon (12.00 p.m.) Inquire at the notary what your legal obligations are to fulfil all legal requirements so you can meet the deadline of June 14th, 2023.
An appraisal report on immovable property is 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 (private) bidder or potential buyer (even when bidding for someone else) is required to contact notary Mingo on the legal requirement when wanting to place a private bid 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 on or before June 7th, 2023 to get all required information on the private bid procedure. 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 his or her bid and 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) to contact notary office Mingo prior to the deadline of the private bid to inquire on the required documents and payment involved
- (ii) in the event the bidder wishes to attend the public auction and participate, to review the auction conditions before attending the auction;
- (iii) 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.
