AUCTION OF IMMOVABLE PROPERTY IN OCTOBER 2017
We would like to notify the interested public that the following properties will be sold in an open Auction on 28th October 2017 at 10:30 a.m. in the Conference hall of Druk PNB Bank, Thimphu. The interested bidders are requested to physically inspect the property prior to the auction. The cadastral maps and photographs of the property can be checked/inspected from the Credit Department, Corporate Office, Druk PNB Bank Ltd., Thimphu:
Terms and Conditions
(1) All potential bidders must register before 9:30 am on the day of the Auction.
(2) Earnest money of Nu.25, 000/- (twenty five thousand only) to be deposited in cash not later than 10:00 a.m. on the day of auction.
(3) The earnest money of the unsuccessful bidders will be refunded.
(4) An entrance fee of Nu.500/- to be deposited in cash in addition to the earnest money which is non-refundable.
(5) The successful bidder must deposit 25% of the bid offer at the fall of the hammer. Balance 75% must be deposited within 10 working days from the day of the auction.
(6) In case the successful bidder fails to deposit 75% as stipulated, the 25% bid offer deposited shall be forfeited.
(7) The Auction committee shall presume that the bidders have duly inspected the properties prior to the auction and shall not entertain any complaints thereafter.
(8) Any tax payable to the govt. for the land sold through auction during the ownership transfer shall be borne by the winning bidder.
(9) The decision of the Auction Committee to accept/reject the offers without assigning any reason shall be final and binding.
For clarification, please contact at 02-325936/324497 or 17614300 (mobile).