Cornelius Receives Upset Bid On Old Public Works Building

Cornelius NC

05 February, 2020

10:40 AM

Description

CORNELIUS, NC — The Town of Cornelius is selling the Old Public Works Building and will likely receive more for the property than originally anticipated. Two weeks after it accepted a purchase offer of $570,000 for the building located at 18520 Starcreek Drive, it received an upset bid for $70,000 more. The new purchase offer is for $640,000, the town said in a public notice. RELATED: Town Of Cornelius Selling Old Public Works Building Here's what the Town of Cornelius says about the deal: "Within ten (10) days of February 1, 2020, any person may raise the bid by not less than ten percent (10%) of the first one thousand dollars ($1,000) and five percent (5%) of the remainder. "If the bid is raised, the bidder shall deposit with the Assistant Town Manager five percent (5%) of the increased bid and a new ten (10) day upset period will begin. "This procedure shall be repeated until no further qualifying upset bids are received." Anyone with questions about this purchase offer is asked to call Assistant Town Manager Tyler Beardsley at 704-892-6031.