File Name: Offer to Purchase Form-Upset Bid – Vacant Land NonCD
NORTH CAROLINA
Offer To Purchase Form
DURHAM COUNTY
(Upset Bid Procedure-Vacant Land NonCD
I, ______________________________________________, hereby offer to purchase the
property described below for $______________. I am paying the City of Durham, General
Services Dept., Real Estate Division, a deposit of five percent (5%) of my offer with a certified
check or money order in the amount of $______________. Should the City Council propose to
accept my offer, the City shall then publish a notice of the offer saying that any person may
within ten days raise the bid by not less than ten percent (10%) of the first $1,000.00 and five
percent (5%) of the remainder. Further, I understand that the person who raises the bid shall also
be required to deposit five percent (5%) of the increased bid with the Real Estate Division and
that this upset bid process shall be repeated until there is no increased bid. The City Council may
accept the last bid and sell the property to the highest bidder or reject all bids.
I/We understand that the City shall provide me/us with a Disclosure to Buyer from Seller’s
Agent or SubAgent. I understand that the terms of sale are (1) upon City Council acceptance of
the offer, the City will convey the property by a non-warranty deed; (2) the City will not prorate
property (ad valorem) taxes; (3) closing within 60 days of final City Council acceptance of my
offer; and (4) payment of balance of purchase price in certified funds at closing. I understand that
the City Council may, at any time, reject any and all offers, without explanation. In any event, if
my bid is rejected, my bid deposit will be returned to me. Once a bid has been accepted by the
City Council, the bid deposit will not be refunded.
The property I am bidding on is: _____________________________________________
_______________________________________________________________________
OTHER CONDITIONS: _____________