Private sale
In case of an auction by a mortgagee (foreclosure sale by virtue of Article 3:268 Civil Code), the so-called right of summary execution, there is a possibility to make a bid in writing until 14 days before the auction. This bid in writing has to be made to the notary who deals with the auction, and has to be unconditional. Consequently, reservations are not allowed.
If the mortgagee or the owner of the collateral foreclosed wants to, a purchase agreement can be concluded with one of the bidders, which agreement subsequently has to be presented to the Court of First Instance in Aruba for approval. By the filing of the agreement, the auction date will be postponed. If the Court of First Instance in Aruba agrees to the purchase agreement, the sale is made and the auction will be cancelled.
This "private" (meaning: non-public) sale is not possible in case of an auction of seized property.