The process for this to take place is as follows:
- Submit the necessary information
- Buyer signs offer to purchase and contract and NC DOT Addendum
- Initial submission to NC DOT
- If accepted, from this point there is a 10 day upset bid period, if there are multiple offers then we will contact all involved parties requesting Highest and Best offers.
- Pas the 10 day upset period there is initial acceptance or counter of the highest bid. The highest bidder will submit their Earnest money check for 10% of the purchase price to be made to the NCDOT ( Please note, if the NCDOT is not able to approve and complete the sale your earnest money will be returned to you).
- From this point, the property will be submitted for final approval which in some cases can take 60-90 days
- Once we have final approval the attorney generals office will take over and get the deed recorded for the property owner, this can take up to 30 days depending on when we have final approval.
Please note, We represent the NCDOT and not the purchaser in this transaction. We are happy to work with you to facilitate the sale.