City Seeking Upset Bids on Surplus Properties
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City Seeking Upset Bids on Surplus Properties

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Durham, NC, November 23, 2007 — The City of Durham’s Real Estate Division is accepting upset bids for offers on properties on North Roxboro and Elliott streets. The parcels are being sold as one tract. An offer of $125,0320 has been submitted for the purchase of these parcels. The minimum upset bid amount will be $131,636.

Persons wishing to upset the offers on the Notice of Sale shall submit sealed bids in separate envelopes for the Roxboro/Elliott street parcels and the Dillard Street parcel to Donna Lunsford, General Services Department, Real Estate Division, 2011 Fay St., Durham, NC 27704 by 4 p.m. on Monday, December 3, 2007. Bids will be opened at that time and the highest qualifying bid will become the new offer. If there is more than one high bid in the same amount, the first bid will become the new offer.

Bid must be accompanied by a deposit of five percent (5%) of the bid in the form of a certified check, cashier’s check or personal money order payable to the City of Durham. The City will return the deposit on any bid not accepted, and will return the deposit on an offer subject to upset if a qualifying higher bid is received. The bid deposit will be retained by the City and deducted from the bid amount at closing. The bid will be subject to advertisement, upset bidding and City Council approval.

A bid will not be awarded to persons owing delinquent City-County taxes or assessments. Closing will be held within 60 days of City Council approval. The City reserves the right to withdraw the property from sale at any time before the final high bid is accepted and the right to reject all bids at any time. City Council will not receive or consider “belated or overdue offers” (defined as offers received after December 3, 2007). The Real Estate Division’s only responsibility is to present belated offers to the City Manager or his designee, who is designated principal for the City Council.

For further information contact Donna Lunsford, General Services Dept., Real Estate Div., 2011 Fay St., Durham, NC 27704 or call 919-560-4197 ext. 241.

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