Description
The subject property is an incomplete structure residence with blocks up to waist height. Derelict single-room structure.
Lot size: 71,470.473 sq. ft, (6,639.769 sq.m.)
Auction Ended
Item condition: New
Reserve price has not been met
PARTICULARS AND CONDITIONS OF SALE
(b) In any reference herein to “Attorney-at-Law” the singular shall include the plural.
(c) Any reference to the Vendor shall mean the National Housing Trust, 4 Park Boulevard, Kingston 5.
(d) Any reference herein to the Vendor’s Attorneys-at-Law shall mean FACEYLAW, 10th Floor, The Towers, 25 Dominica Drive, Kingston 5.
(e) In the construction of this Agreement, where the context so admits, the “Purchaser” shall be deemed to refer to one or more persons purchasing from the Vendor and the words “he”, “him” or “it” indicating the masculine gender and singular number shall be deemed to refer to and include the feminine and neuter genders and the plural number, and where there is more than one Purchaser, their agreements shall be joint and several.
(f) All clause headings are inserted for ease of reference only and shall not affect the interpretation of this Agreement.
(b) The highest bidder (hereinafter called “the Purchaser”) must immediately after the auction has been concluded, provide proof of his identity and evidence of his address and in default, the Auctioneer is entitled to re-offer the property for sale as if it had not previously been knocked down.
(c) The bidders shall be notified as to the sale and as to the identity of the Purchaser at the auction and the Purchaser shall immediately after being notified of the sale, sign a memorandum in the form endorsed hereon to complete the purchase in accordance with the undermentioned conditions.
(c) The Deposit received by the Auctioneer shall be paid over in full to the Vendor’s Attorneys-at-Law together with the bidding sheet(s) within five (5) business days of the auction.
(d) Within six (6) weeks of the date of the auction, the Purchaser shall produce to the Vendor’s Attorneys-at-Law a letter of undertaking for the balance purchase money from a licensed financial institution or other source acceptable to the Vendor’s Attorneys-at-Law PROVIDED THAT if the Purchaser shall fail to produce the said letter of undertaking within the time provided then the Vendor may, at its sole discretion, extend the time for producing the said letter of undertaking or cancel this Agreement and forfeit the deposit.
(e) The balance of the purchase money shall be paid no later than ninety (90) days, or such longer period as the Vendor may at its sole discretion allow, from the date of the auction sale to the Vendor’s said Attorneys-at-Law at their office but if for any cause whatever the purchase shall not be completed by the time herein specified the Purchaser shall pay interest at the rate of ten percentum (10%) per annum (being a pre-estimate of loss occasioned to the Vendor by reason of the delay) on the unpaid balance of the purchase money from the time fixed for the payment of the same until the same shall be paid, without prejudice nevertheless to the rights reserved to the Vendor by Clause 12 of these conditions. All payments by the Purchaser to the Vendor pursuant to the conditions of sale herein stated shall be made by certified manager’s cheque payable to the Vendor’s Attorneys-at-Law.
(a) the amount to be refunded is equal to or more than the total of the duty and Tax so paid, then the Purchaser shall to the extent of such duty and/or Tax so imposed be deemed to have been refunded same by delivery up to him of the original Transfer Tax Receipt and stamped Particulars and Conditions of Sale noted by the Vendor as cancelled, or
(b) if the amount to be refunded is less than the total of the amount of duty and Tax so paid, then the Vendor’s Attorneys-at-Law shall at the sole expense of the Purchaser claim the refund of such amount of duty and Tax as is refundable, from the Stamp Commissioner and within seven days of the Vendor’s Attorneys-at-Law receiving such refund they shall pay therefrom to the Purchaser the amount to which the Purchaser is entitled less the Vendor’s Attorneys Fees and expenses for obtaining the said refund.
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The subject property is an incomplete structure residence with blocks up to waist height. Derelict single-room structure.
Lot size: 71,470.473 sq. ft, (6,639.769 sq.m.)
Auction has finished
Auction failed because there were no bidsApril 25, 2023 9:00 am | Auction started |
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