North Carolina Administrative Code › Title 01 - ADMINISTRATION › Chapter 06 - STATE PROPERTY AND CONSTRUCTION › Subchapter B - REAL PROPERTY › Section .0300 - DISPOSITION OF REAL PROPERTY › Section 06B .0304 - PROCEDURE FOR SALE OF STATE LAND

Current through Register Vol. 39, No. 2, July 15, 2024
The following procedure is used when surplus state-owned
					 property is offered for sale by bid:
(1) All state land will be advertised for
				  sale unless waived by the Council of State. An advertisement is placed in a
				  newspaper of general circulation, allowing 15 days for interested parties to
				  bid. All bids must be forwarded to the Director, Division of State Property,
				  Room 401 Administration Building, 116 West Jones Street, Raleigh, North
				  Carolina 27611 and must be accompanied by a certified or cashier's check for no
				  less than five percent of the bid, payable to the "State of North
				  Carolina."
(2) After initial bids
				  have been received, all interested parties will be notified of the high bid in
				  order that they may have an opportunity to raise same. If not raised within 10
				  days, the Director of the Division of State Property will determine if the high
				  bid should be accepted. All raises must be received within the 10 day
				  period.
(3) The bid may be raised
				  by an amount of not less than five percent of the circulated high bid. Such a
				  bid, together with a certified or cashier's check of not less than five percent
				  of the bid, should be forwarded to the Director of the Division of State
				  Property. A raise of exactly five percent may result in duplicate bids, thus a
				  bid in excess of five percent is safer. If the bid is raised, the matter will
				  be held open an additional 10 days for further raises. This procedure will
				  continue until there are no further raises.
(4) The Director of the Division of State
				  Property reserves the right to reject any and all bids. In the case of
				  identical bids, the director will determine which bid shall be recommended for
				  acceptance. Any bid which is for less than the advertised minimum bid figure,
				  not accompanied by a certified or cashier's check, or does not reach the
				  Division of State Property by the prescribed time, will automatically be
				  rejected.
(5) All sales of state
				  lands are subject to the approval of the Council of State, which, at its sole
				  discretion, may reject or accept any bids or offers.
(6) The State of North Carolina conveys land
				  by deed without warranty or by quitclaim deed. A description of the property is
				  available at the Division of State Property. All deeds, after approval by the
				  Council of State, will be executed in the manner prescribed by Chapter 146 of
				  the General Statutes of North Carolina.
(7) The State of North Carolina makes no
				  representations or warranties concerning the title to the property, or the
				  boundaries of the property, or the uses to which it may be put. Any prospective
				  buyer is advised to make his own independent investigation of these
				  matters.
(8) All properties are
				  sold for cash upon delivery of the deed. Once a high bid has been accepted, the
				  five percent deposit will be held as an earnest money deposit. If the bidder
				  subsequently fails, refuses or is unable to close the transaction at time of
				  delivery of the deed, the state may retain the earnest money deposit as
				  liquidated damages.
Authority
					 G.S.
					 143-341(4);
					 146-27;
					 146-28;
					 146-29;
Eff. February
					 1, 1976;
Readopted Eff. February 27, 1979;
Pursuant to
					 G.S.
					 150B-21.3A, rule is necessary without
					 substantive public interest Eff. July 22,
					 2018.