Thursday, November 23, 2017
RETURN TO NOTICES
NOTICE OF SALE OF STATE REAL PROPERTY
Sealed bids covering the sale of the State's interest in approximately 1.425 acre(s) of land located at southeast quadrant of SH 75 and Eldorado in the City of McKinney, Collin County, Texas, may be mailed to the attention of District Engineer Kelly Selman, P.E., Texas Department of Transportation, 4777 East Highway 80, Mesquite, TX 75150 or brought to the TxDOT office at 4777 East Highway 80, Mesquite, TX 75150. Bids on the required, unaltered form must be received in the hands of the District Engineer before 10:00 AM on December 7, 2017. The bids opening will occur at 1:00 PM on December 7, 2017. The envelope shall be marked "BID ON SALE OF STATE REAL PROPERTY, DECEMBER, 2017.", or TxDOT shall bear no responsibility for premature opening. Bidders or authorized agents are invited to inspect the property on the ground and to be present at the public opening of bids at the above place and time. THE STATE WILL TRANSFER ALL OF ITS RIGHTS, TITLE AND INTEREST, EXCLUDING OIL, GAS, SULPHUR AND OTHER MINERALS, IN THE REAL PROPERTY TO THE SUCCESSFUL BIDDER IN AN "AS IS" CONDITION WITHOUT ANY WARRANTY OF MERCHANTABILITY OR WARRANTY OF SUITABILITY FOR A PARTICULAR PURPOSE. The successful bidder may purchase an updated abstract or title insurance at the bidder's own expense. The State's disposal of this tract will automatically be subject to continued rights of existing utilities, if any, as provided by law, and any required adjustment will be at no cost to the State. In addition, the transfer will be subject to all matters of public record and to all easements, leases, agreements or licenses, or other interests which affect the property, and any matter which would be disclosed by title examination, survey, investigation or inquiry, including but not limited to the rights of parties in possession. The minimum acceptable bid for the above referenced real property is $990,000.00. Each bid shall be accompanied by a bid deposit check in the form of a Money Order or Cashier's Check made payable without recourse to the order of the "Texas Department of Transportation" as an assurance that the bidder, if successful, will consummate the purchase. The bid deposit shall include the legal notice expense of $606.90, a service fee of $1,600.00, survey expense of $14,690.67, appraisal expense of $1,900.00 and a down payment of 42,500.00, for a total deposit of $61,297.57. Only the down payment of $42,500.00 from the successful bidder shall be applied to the purchase price of the property. The Cashier's Check shall be returned to unsuccessful bidders. The deposit amount other than the down payment shall be non-refundable immediately for the successful bid. The down payment on the successful bid shall become non-refundable when the Texas Transportation Commission has ordered that the property is no longer needed for a state highway purpose. The entire bid deposit shall be considered forfeited if, at no fault of the State, the bidder fails to complete the purchase within 60 days after the date the bidder receives written notice that the Texas Department of Transportation is ready to close the transaction. Money Orders or Cashier's Checks of all unsuccessful bidders will be returned after submission of the staff recommended successful bid to the Texas Transportation Commission. The State reserves the right to reject any and all bids. For permission to inspect the property, for required bid forms or for additional information contact Jess Berglund, at 512-486-5883.
10/31, 11/7, 11/14