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07 Sep

Can I buy a house from Nama?

Irish Times Property Clinic - Thursday 6th September 2012

Q I keep hearing about lots of great residential houses in Nama that are good value. How can I find them? How do I go about buying one if I’m interested?

A Firstly, Nama has a very useful and informative web site ( which has a section called “Properties Enforced”. This section contains a listing of all Nama properties and is now relatively easy to search using the new search functions and is a good way of finding links to properties that you may have an interest in.

 The website also contains some links to the full brochures of the properties, which provide more detail on them. In relation to the properties listed, in most cases, Nama appoints approved estate agents to market and sell properties on its books.

Therefore purchases are handled in the normal way, albeit Nama does have to approve all sales. If you are interested in any of the properties, you could contact the agents involved and perhaps register with them in case they might have other Nama properties on their books similar to what you are looking for in due course.

In relation to buying one of the properties, the purchase of such a property will normally be conducted by private treaty but the specific terms will be set out by the selling agents. Heretofore, Nama has avoided going down the large scale public auction route such as many of the banks/receivers are doing.

Nama has recently launched up to 750 properties for sale on a deferred payment initiative which aims to provide home buyers with a level of protection against a fall in residential property prices from current levels over the next five years.

The initiative is available to people who wish to buy a new home and allows approved purchasers to defer 20 per cent of the price of their property.

Further details of this initiative are available on the Nama web site along with a useful Frequently Asked Questions section.

Gerard O’Toole is Vice Chair of the Western Region Branch of the Society of Chartered Surveyors Ireland  


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