Getting NAMA to suspend a sale. Is it possible.

Greybottle

Just a quick question...NAMA have a property up for sale through a well known estate agent. A number of local voluntary groups in our area would be interested in purchasing the property, but we would have no chance of raising the money in a very short space of time. However given 6-12 months we feel that we have a good chance of getting it.

Now I know NAMA are duty bound to get the best price, and I'm not arguing with that.

But is it possible to get them to withdraw the sale for a given period of time until we get a chance to get the money together.

If that is possible, then how would we go about it? Do we contact Councillors, TD's, to make a representation (or is this interference in a NAMA process). Or would a petition work.

Sorry if the question sounds a bit naieve, but the groups involved are well known in the area and have all a decent reputation, it would be run on a community basis. Also, the property is for sale for a few weeks and I don't think it's that desirable as according to the estate agent there has been little interest in it.

I'm just wondering if anyone can answer the above questions before I go contacting NAMA or someone else.

Thanks in advance.

4ensic15

You can't force NAMA to hold off. You might be better off making an offer and paying a booking deposit and don't sign a contract until you have the funds.

Askthe EA

4ensic15 wrote: »

You can't force NAMA to hold off. You might be better off making an offer and paying a booking deposit and don't sign a contract until you have the funds.

They'll have to provide proof of funding so unfortunately that's a no go.

Askthe EA

Greybottle wrote: »

Just a quick question...NAMA have a property up for sale through a well known estate agent. A number of local voluntary groups in our area would be interested in purchasing the property, but we would have no chance of raising the money in a very short space of time. However given 6-12 months we feel that we have a good chance of getting it.

Now I know NAMA are duty bound to get the best price, and I'm not arguing with that.

But is it possible to get them to withdraw the sale for a given period of time until we get a chance to get the money together.

If that is possible, then how would we go about it? Do we contact Councillors, TD's, to make a representation (or is this interference in a NAMA process). Or would a petition work.

Sorry if the question sounds a bit naieve, but the groups involved are well known in the area and have all a decent reputation, it would be run on a community basis. Also, the property is for sale for a few weeks and I don't think it's that desirable as according to the estate agent there has been little interest in it.

I'm just wondering if anyone can answer the above questions before I go contacting NAMA or someone else.

Thanks in advance.

Do you know who the receiver is? Find out, contact them. I doubt a single property is in NAMA per se, much more likely to be in receivership.

Mrs OBumble

Given the challenges of charity fundraising in the current environment, then I suspect your request would be met with some skepticism.

Each new revelation makes it so much harder for voluntary groups to even survive, much less buy properties. Console had a decent reputation until fairly recently.

Sorry to pour cold water and all, but it's a reality you will need to face.