Public Notice: Upset Bid Notice for Teachers Memorial School

NOTICE OF SALE OF REAL PROPERTY

Pursuant to G.S. 115C-518 and 160A-269, the Lenoir County Board of Education hereby gives notice that it has received an offer to purchase the Teacher’s Memorial School property owned by the Lenoir County Board of Education.  The property’s street address is 500 Marcella Drive Kinston, NC 28501.  The property, known as the old Teacher’s Memorial School, is believed to consist of one parcel totaling approximately 7.2 acres of land, including all buildings and parking lots, but excluding the recently subdivided parcel of land on the eastern portion of the lot and the gym known as the Martin C. Freeman Center.  The property is being sold “AS IS” with no representation from Lenoir County Public Schools regarding the exact acreage or condition of the property.  Please contact Nicholas E. Harvey II, Assistant Superintendent for Lenoir County Public Schools, at 252-527-1109 for additional information regarding the property.

The offer to purchase is in the amount of Two Hundred Fifty Thousand Dollars ($250,000.00).  The offer includes the purchaser paying for the preparation of the deed and any closing costs.  Notice is hereby given that prior to November 27, 2023, at 4:00 PM, any person may raise the bid by not less than ten percent (10%) of the first one thousand dollars ($1000) and five percent (5%) of the remainder ($249,000).  Therefore, the lowest acceptable upset bid is Two Hundred Sixty-Two Thousand Five Hundred and Fifty Dollars ($262,550.00).  The individual submitting the upset bid will need to agree to pay for the cost of preparing the seller documents and any closing costs.  When a bid is raised, the bidder shall deposit with M. Brent Williams, Superintendent of Lenoir County Public Schools, five percent (5%) of the total increased bid in cash or certified funds, and Lenoir County Public Schools shall re-advertise the offer at the increased bid.  This procedure shall be repeated until no further qualifying upset bids are received, at which time the Board may accept the offer and sell the property to the highest bidder.  The property is being sold “as is” and will be conveyed by special warranty deed.  The Board reserves the right to reject any and all offers at any time.  This the 13th day of November, 2023.