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Yes, provided that you can satisfy the requirements.
Type of financing Requirement Loan from NHT 5% of the bid sum is payable as a deposit, providing the other associated costs can be covered by the mortgage loan. Loan from other source(s) 15% of the bid sum is payable as a deposit, providing the other associated costs can be covered by the mortgage loan. Cash purchase 15% of the bid sum is payable as a deposit. Evidence of the balance of the purchase price and the other associated costs must also be provided before offer is considered acceptable. Joint Finance Mortgage Programme (JFMP) 15% of the bid sum is payable as a deposit, providing the other associated costs can be covered by the mortgage loan.
Vacant possession is not guaranteed. If the unit is still occupied by the previous owner(s) or is tenanted, upon receipt of Letters of Possession from the Trust, you will be responsible for ensuring that the property becomes vacant by serving a notice to quit on the occupants, and pursuing Court action for recovery of possession.
We cannot give you permission to access the property, however, if the occupant(s) is/are willing to allow you access to any area of the property, this is done at his/her own discretion. The properties are sold on an “as is” basis, therefore if upon inspection, any damage is identified, we do not accept responsibility for same.
We will give priority to “Cash purchase” for these properties; however, mortgage loans will be provided to qualified contributors provided that when the bids/ letters are being submitted, the persons who are interested in purchasing the properties do the following: indicate that they agree to purchase the property even though there is no Registered Title; provide proof of how the property will be purchased ( i.e by cash, or by getting a loan from a financial/mortgage institution).
We reserve the right to withdraw the offer of sale of a property to a successful bidder if:- the defaulting mortgagor makes acceptable arrangements to settle the outstanding payments on his/her account, before the successful bidder pays the required deposit; the successful bidder fails to provide required documents within the established time-lines, or the information and contents provided in the documents presented do not meet established standards. the successful bidder is unable to satisfy payment of all costs to complete the sale; N.B. We will allow any bidder to re-bid on the same, as well as any other property, if the property is subsequently re-listed for sale by Private Treaty.
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.
The NHT Online Payment System is a credit card payment facility that will allow legitimate holders of a Visa, MasterCard or Keycard to make regular mortgage via NHT’s website.
Sealed bids (in envelopes) should be given to the Receptionist at any of the NHT’s Branch Offices/Service Centres, between the following hours each day: Mondays to Thursdays - 7:30 a.m to 3:00p.m. Fridays - 7:30 a.m. to 2:30 p.m. You must ensure that all the requirements outlined for purchasing a property are strictly followed in submitting your bid.
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.
