City Seeking Bidders for 306 College
Avenue at Sealed Bid Auction in January
The City Council of the City of Henderson named Cecilia Koch as the agent of record for the sale of the property located at 306 College Avenue at the Council meeting on Monday night. The City plans to sell the property through a sealed bid auction in January 2015. Koch will market the property through the Multiple Listing Service and on various internet sites.
The City purchased the property in 2013. The plan at that time was to demolish the water tower downtown and construct a new elevated storage tank at that location, however recent evaluation of the downtown tank has shown that rehabilitation of the existing downtown tower was a more cost effective option.
The City had a complete property inspection done on the property by Danny Young of Eye-Spy Home Inspections which identified any issues or problems with the property, and as a result had a new Furnace/AC and Water heater installed. The City also has had a certified appraisal conducted by Turlington & Colombo Appraisal Services which showed the current market value for the property to be $122,000 which reflected those improvements made to the property. Both the Inspection report and certified appraisal are available for public viewing on the City’s website.
“The City wants to be as transparent as possible in the selling of this property and make all information available on the property to prospective buyers. It is our goal to be able to get as much as possible through the sale of the property”, said Tim Kelty City Manager.
The property will be listed for $122,000 with a reserve price of $97,600 on the recommendation of Koch. She will hold an open house for prospective buyers to view the property on December 11th from 4:00pm to 6:00pm. Prospective buyers may also make inquiries or appointments to view the property by calling Century 21 Heritage Realty at 903-657-1577.
The deadline for submitting sealed bids is 12:00pm on January 16th, 2015. Bids should be sent to Cecilia Koch, 701 S. Main, Henderson, TX 75654. Bid packages must include: Written offer, earnest money and pre-approval letter or proof of funds. Bids will be opened and read aloud at 2:00pm at the Century 21 office in Henderson. The award will be made to qualified buyer making the highest net offer over the reserve price