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Bids are opened twice per month, usually on the second and fourth Thursday of each month.
If the bid is considered to be acceptable, and the Private Treaty Committee has approved sale of the property to a successful bidder, the successful bidder will receive a telephone call to firstly indicate the success of his/her bid, and advised that the letter of approval and other offer conditions should be collected from the NHT's office within two (2) working days of receipt of the approval. The unsuccessful bidder will be sent a letter, by mail, advising of the status of his/her bid, within five (5) working days of receipt of approval. The bidder whose bid was disqualified will be sent a letter, by mail, advising of the status of his/her bid, within the same time-line. N.B. If a sale is not approved, the NHT will continue to invite interested persons to make offers to purchase the property. We would appreciate if this request is given urgent attention, in keeping with a recommendation made by our internal auditors.
Your bid will be rejected if: you do not state your name, and did not sign the letter (if your bid was typed); you do not state the exact address of the property you wish to purchase; you state a range of figures ( e.g $1m to $ 2m) for your bid sum instead of one amount; the property is not on the list of properties which the Trust is selling by Private Treaty; words and figures in your bid letter do not agree; Real Estate Agents who are making bids on behalf of bidders, do not attach a signed copy of the bid from the bidders; when the bid/letter is opened, the information does not clearly indicate that a bid is being made on a property. a higher bid is received from another person. your proof of deposit and mortgage financing documents did not accompany your bid letter; a certified Power of Attorney document giving authorisation for your Agent/Representative to make a bid on your behalf is not received.
No. You are required to send a new letter/bid with the correct information.
You may click on the "Properties for sale" link OR Visit the nearest NHT Branch Office or Service Centre and speak with a Customer Service Representative; OR You may give us a call at the following numbers: (876) 929-6500 –9 or toll free at 1-888-CALL NHT.
Private Treaty Sale is one of the methods used by financial institutions such as the NHT, to legally recover outstanding mortgage loans in default, and which are secured by properties such as residential homes.
