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 South Houston
 Code of Ordinances
 CODE OF ORDINANCES
 Chapter 2. ADMINISTRATION
 Article I. IN GENERAL

  § 2-27.8. Real property sales at public auction.  

Latest version.

  • (a)

    That any prospective buyer of city-owned real property who requests that the city sell the real property at public auction in compliance with the V.T.C.A. Local Government Code § 253.008, be responsible for providing "earnest money" to the city in the amount of two thousand five hundred dollars ($2,500.00) to cover the estimated costs of the public auction (including, but not limited to, the appraisal fee, city incurred attorneys' fees and the publication fee).

    (b)

    The two thousand five hundred dollar ($2,500.00) earnest money shall be deposited with the city prior to the city's incurring any costs associated with the public auction.

    (c)

    That if the buyer who requested the public auction is awarded the high bid at the public auction, the two thousand five hundred dollar ($2,500.00) "earnest money" will then be applied and credited toward the purchase price of the real property, the appraisal cost, attorneys' fees, and publication fee.

    (d)

    That if the buyer who requested the public auction is not awarded the high bid at the public auction, then the buyer who is the successful high bidder at the public auction shall cover the cost of the appraisal fee, the city incurred attorneys' fees, and the publication fee. After the high bidder pays the costs referenced above, then the city shall, within a reasonable time, refund the two thousand five hundred dollar ($2,500.00) earnest money to the bidder who requested the public auction, paid the earnest money to the city, but was not the high bidder.

    (e)

    That if there are no bids at the public auction and no sale materializes, then the bidder who requested the public auction and paid the two thousand five hundred dollar ($2,500.00) earnest money to the city shall forfeit the lesser of the two thousand five hundred dollar ($2,500.00) earnest money or the total sum of costs incurred by the city that is tabulated after the conclusion of the public auction. The most the bidder will forfeit under subsection (e) is two thousand five hundred dollars ($2,500). If the total sum of costs incurred by the city that is tabulated after the conclusion of the public auction is less than two thousand five hundred dollars ($2,500.00), then the city shall refund the difference to the bidder within a reasonable time.

(Ord. No. 2006-21, §§ 1—5, 7-11-06)