NCDOT Remnant Properties
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Process to Purchase Property from NCDOT
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Submit the necessary information via web form found on our homepage.
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After information is submitted buyer (and Buyer Agent if applicable) will receive a contract package via email
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Buyer signs offer to purchase and contract and NCDOT Addendum
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Initial submission to NCDOT
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From the point of an initial offer on any property, there is a minimum 10 business day waiting period for other offers to be received. Offers will continue to be received until all offers are reviewed by the NC DOT. The highest offering price at any given time will be announced to all offering parties and that amount will have to be 'upset' by at least 5% , reference the chatbot to view current highest offer amount on any asset.. You will have until the end of this 10 day period, from date of initial offer being submitted, to adjust your offering price.
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Past the waiting 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 or $350, whichever is greater, to be made to Carolina Land Experts. Please note, if the NCDOT is not able to approve and complete the sale your earnest money will be returned to you.
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From this point, the property will be submitted for final approval which in some cases can take 60-90 days
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Once we have final approval the Attorney General's office will take over and get the deed recorded for the property owner, this can take up to 45-60 days depending on when we have final approval.
Disclaimer
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The State of North Carolina, hereinafter, "OWNER", offers for sale the following Remnant Property Property pursuant to 19A NCAC 2B.0143 [4]). Owner makes neither warranties nor representations regarding the condition of the property. PURCHASER is solely responsible for conducting any tests, examinations, inspections, etc. during an agreed upon due diligence period. Owner hereby makes the following representations regarding the matters set forth below. Please note that this list is NOT all inclusive, and PURCHASER accepts the property "AS IS".
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Owner makes no warranties regarding the possibility of contamination on the Remnant Property Property.
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Owner makes no warranties regarding title to the property. Title will be conveyed to PURCHASER via Quitclaim or Non-Warranty Deed.
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Owner makes neither warranties nor representations regarding flood hazards.
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Owner makes neither warranties nor representations regarding the suitability of the soil for building purposes.
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Owner shall not pay commissions to Real Estate Agents representing the PURCHASERS.
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Owner makes no warranties regarding the existence of environmental issues that may prohibit, diminish or interfere with the purchaser’s intended use of the property.
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Buyer is responsible for all recording fees associated with the recording of the executed Deed;
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Closing will be handled via e-file by NCDOT when and where possible; however all counties are not e-file ready so in those counties, recording will be either by hand via a NCDOT agent or by mail; in no instance will closing and/or recording be handled at the buyer’s attorney’s office or by the buyer’s attorney;
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All final payment funds will be made out to NCDOT via a certified or cashier’s check, payable at the time of closing and recording of the Deed;
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Buyer has physically reviewed the property and is aware of any access or control of access;
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The sale of the subject property must be approved by the Board of Transportation and, when necessary, by the Council of State, and these approvals may delay by several months the sale and delivery of the Deed conveying the property.
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This bullet supplements Sections 4(c) and 6(b) of the North Carolina Offer to Purchase and Contract. Buyer understands and acknowledges that if the sale of this property is conducted as a “public sale” as that term is defined in NC General Statutes Section 136-19.7(c)(6), that the NCDOT and/or its agents, may disclose the amount of its offer to purchase the property, in order to comply with the provisions of NC General Statutes Section 136-19.7(d)(1) regarding upset bids, and buyer hereby waives any right to confidentiality of such information to which it may be entitled through the rules and regulations governing real estate brokers in North Carolina, as well as any rights to bring civil actions or disciplinary proceedings related to the enforcement of such rights to confidentiality of buyer’s offer to purchase the property.
Please note, We represent the NCDOT and not the purchaser in this transaction. We are happy to work with you to facilitate the sale.
Please do not submit any funds until requested by Carolina Land Experts office.
The Department retains the right to decline, reject or set aside any and all offers prior to approval by the Board of Transportation and/or the Council of State.