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NAMA Distressed Property

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  • 29-09-2011 7:58pm
    #1
    Mental Mickey
    Registered Users Posts: 10,642 ✭✭✭✭


    Apologies if this has been asked before, but is there a website that I can visit to look at/register my interest in these auctions??

    TIA.


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    #2
    Mental Mickey
    Registered Users Posts: 10,642 ✭✭✭✭Mental Mickey


    Mental Mickey wrote: »
    Apologies if this has been asked before, but is there a website that I can visit to look at/register my interest in these auctions??

    TIA.

    Anyone?


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    #3
    royaler83
    Registered Users Posts: 497 ✭✭royaler83


    Mental Mickey wrote: »
    Apologies if this has been asked before, but is there a website that I can visit to look at/register my interest in these auctions??

    TIA.

    Allsop do distressed auctions every few months here, think there might be one this month, but don't think they are necessarily NAMA if at all


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    #4
    ronan45
    Registered Users Posts: 1,584 ✭✭✭ronan45


    30th November 2011 Auction

    http://www.auction.co.uk/irish/onlineCatalogue.asp

    Can anyone go in and have a snoop?


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    #5
    Cathmandooo
    Registered Users Posts: 17,324 ✭✭✭✭Cathmandooo


    ronan45 wrote: »
    30th November 2011 Auction

    http://www.auction.co.uk/irish/onlineCatalogue.asp

    Can anyone go in and have a snoop?

    Yes but I've heard it can get very packed out.


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    #6
    zac8
    Registered Users Posts: 530 ✭✭✭zac8


    Cathmandooo wrote: »
    Yes but I've heard it can get very packed out.

    There'll be a live feed on their website.


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    #7
    ronan45
    Registered Users Posts: 1,584 ✭✭✭ronan45


    zac8 wrote: »
    There'll be a live feed on their website.

    Oh excellent, Ill set my reminder now should be interesting. Will give a realistic look at where the market is!


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    #8
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Mental Mickey wrote: »
    Apologies if this has been asked before, but is there a website that I can visit to look at/register my interest in these auctions??

    TIA.

    What exactly do you mean by 'NAMA Distressed Property'?
    None of the property in the Allsop/All of Space auctions is in NAMA- normally it would be property which has had a receiver appointed to it, or which has been relinquished to a lender. NAMA has not commenced auctioning off property (other than limited commercial property, alongside some assets such as artworks that it has ceased).

    If you are referring to the proposed NAMA sale of residential property, and the mortgage scheme- the proposed details are that NAMA would provide a 5 year 80% mortgage, for the property, at the end of which the 20% would be due if the property was the same or a higher value than that paid for it, and it would be up to the individual at that time to raise a mortgage with one of the commercial banks for either the purchase price, or the 80% (depending on what has happened to prices in the interim)- and replace the NAMA mortgage with a conventional mortgage. (i.e. the NAMA mortgage is a shortterm financing to get the property off its hands- and the purchaser has to be in a position to get a regular mortgage down the road to repay NAMA).

    The legislation for this hasn't been passed (or even properly discussed) yet, so its a case of keep an eye on this space for updates.......


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    #9
    ted1
    Registered Users Posts: 23,518 ✭✭✭✭ted1


    It's all on the nama website.


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    #10
    Mental Mickey
    Registered Users Posts: 10,642 ✭✭✭✭Mental Mickey


    ted1 wrote: »
    It's all on the nama website.

    Visited that site and wasn't sure where to be looking for info re: auctions, which is why I posted the question here.


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    #11
    louik
    Closed Accounts Posts: 2 ✭louik


    There is an auction in the Shelbourne 30/11/2011. you will get the info on www.allsopspace.ie. They have an office on Pembroke St. Dublin 2 if you wanted a brochure.


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