Notariaat Yarzagaray - Auctions

Going once…..

Most people associate the word auction with a chairman and hammer calling the last bid on antiques or a garage sale to the highest bidder: An invaluable collector's item for a true bargain

A notary can also hold auctions. Usually, these are registered property such as houses, land or ships.

Before an auction at the notary can take place there is a specific process in which a number of steps, as dictated by law have to be are completed. The notary can auction on behalf of mortgagor (in most cases a bank), a creditor with a repossession order or on behalf of the owner (voluntary auction)

When the notary is instructed to hold an auction, a date is set. By law, the owner of the object must be informed (if the auction isn’t voluntary), the items to be auctioned and special auction conditions must be published and usually there is an option for a direct bid.

 To go to auctions means extra costs, so it is favorable for all parties, the client, the owner of the auctioned property and the potential buyer, find a solution before an item goes to auction. Usually, it  is possible to make a (private) bid within a time limit set by law. Note that a private bid is not possible in auction based on repossession.

Though it seems an easy score at first glance, an auction can result in a less than the hoped-for result. Namely, there is no opportunity to inspect the property / object; in most cases only an appraisal report is made available to the buyer, there are several candidates who all want the best price and the client reserves the right to withdraw. If you are interested to bid at the auction, it is advised to do research or to enlist the help of an experienced professional (like a broker) to avoid disappointment.

When making a (private) bid a valid ID and a banker’s guarantee are required.

Step 1: Opening of the auction

The style of the auction in Aruba is “bidding and junction”. This way of auctioning is so typically Dutch that the term "Dutch Auction" is used in English.

Customary the notary opens the auction as the auctioneer. He explains how the auction works, and   that the course of events will be documented in detail per item in a deed, reads the special auction conditions and tries to warm the public for the first part of the auction, the bidding war

Step 2: Let’s start bidding.

For each object a brief explanation and an overview of the cost and minimal bid. The auctioneer asks the audience to bid above the starting bid. Anyone can bid or make a higher bid by raising their hand.

The person with the highest bid is called the bettor. His or her bid is referred to as the 'opening bid'. After the release of the highest bid (adopted after the usual "once, twice, we have a bettor" and a stroke of the hammer of the notary), the notary,   will add the information of the bettor to the deed.

Step 3: The Dutch auction

During the second round, the notary will name an amount (well) above the starting bid. The notary reduces the amount gradually either until the starting bid.  Is reached or if someone in the audience has called “mijn” (mine in Dutch). It is entirely possible that someone other than the bettor calls this round; it all depends on how much someone is willing to pay. If no one calls this round, the property is ceded to the bettor.

Step 4: After the auction

After the auction the creditor reserves the right during the first business day until 17.00 to not accept the bid.  When the bid is too low the creditor may decide to keep the object anyway to sell it in a different way.  Hence the person making the bid (bettor or miner) isn’t automatically the new owner.

 If there are no concerns the notary draws up a deed transferring the property to the new owner.

Gaffel Veiling Notariaat Yarzagaray Akte Aruba

Donderdag ‘s morgens om 10.00 uur zal ten overstaan van mr. R.E. Yarzagaray, notaris te
Aruba, in de Surfside Marina (Dolphin Room) aan de L.G. Smith Blvd. 7, in het openbaar
bij opbod en daarop volgende afmijning, een openbare verkoop worden gehouden:

24 januari 2019

Veiling | Findishi | Public Auction

Krachtens artikel 3:268 van het Burgerlijk Wetboek van
Aruba juncto artikel 68 Overgangswet

1) Woonhuis | Oranjestad | Residential | Inzetprijs: Afl. 155.000,00

Het recht van erfpacht tot achttien augustus tweeduizend acht en vijftig (18-08-
2058) op een perceel domeingrond groot, zeshonderd negen vierkante meter (609
m²), gelegen te Eagle in Aruba, kadastraal bekend als Land Aruba Eerste Afdeling
Sectie N nummer 1482, met het daarop gebouwde, plaatselijk bekend als “Caya
Eleuterio (Boes) Orman 118-D” (voorheen “Arendstraat 118-D”).

2) Woonhuis | Pos Chiquito | Residential | Inzetprijs: Afl. 752.000,00

Het recht van erfpacht tot negen en twintig augustus tweeduizend veertig
(29-08-2040) op een perceel domeingrond, groot negenhonderd vijf en dertig
vierkante meter (935 m²), gelegen te Pos Chiquito in Aruba, kadastraal bekend als
Land Aruba Derde Afdeling Sectie G nummer 698, met het daarop
gebouwde betonstenen woonhuis met drie appartamenten, plaatselijk bekend als
“Pos Chiquito 101-B”.

Krachtens rechterlijk bevel

3) Grond | Oranjestad | Residential | Inzetprijs: Afl. 111.000,00

Een perceel eigendomsgrond groot, een duizend eenhonderd tien vierkante meter
(1.110 m²), gelegen aan de Laurens Costerstraat in Aruba, kadastraal bekend als
Land Aruba Eerste Afdeling Sectie P nummer 2585.

Onderhandse biedingen voor bovengemelde registergoederen zijn  niet meer mogelijk. 

Indien het registergoed niet vrij van gebruik door de eigenaar wordt opgeleverd, kan de koper eventueel de
ontruiming bewerkstelligen uit kracht van de grosse van het proces-verbaal van veiling en kwijting. Aan
eventuele onjuistheden en/of onvolledigheden in deze advertentie kunnen geen rechten worden ontleend.

Op de openbare verkoop zijn de Algemene Veilingsvoorwaarden van Executieveilingen (AVVE) en de
Bijzondere Veilingsvoorwaarden van toepassing. Deze liggen ter inzage op ons kantoor. De AVVE zijn
gedeponeerd ter Griffie van het Gerecht in Eerste Aanleg Aruba. Bieders dienen een middels bankgarantie
financiële gegoedheid aan te tonen en een geldig legitimatiebewijs te overleggen.

For more information: Ms. Jacky Harms

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