NAMA Property Sales

Dáil Éireann Debate, Wednesday - 15 January 2014

Wednesday, 15 January 2014

Questions (123)

Michael McGrath

Question:

123. Deputy Michael McGrath asked the Minister for Finance the procedures that apply when the National Asset Management Agency or a NAMA debtor is appointing a selling agent to dispose of a particular property; if the selling agent is obliged to notify NAMA or the NAMA debtor of all offers that have been made for the property; if he will provide details of the nature of the commercial relationship, including the fee basis, that applies between the selling agent and NAMA or the NAMA debtor; and if he will make a statement on the matter. [1078/14]

Written answers

Minister for Finance

NAMA has published a detailed guidance note on the disposal of real estate assets by its debtors and receivers. This is available on its website at the following location http://www.nama.ie/about-us/step-by-step/developing-a-business-plan/. This makes clear both the commercial relationship that applies between selling agents, NAMA debtors and receivers and NAMA, in its role as a secured lender. It also addresses the other questions raised by the Deputy.