Get the free Sale of Surplus Property - Former Rumford Library - 2013-07-10doc

City of East Providence 145 TAUNTON AVENUE, EAST PROVIDENCE STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS 029144505 TEL. (401) 4357521 FAX (401) 4381719 TDD (401) 4311633 CITY MANAGER WWW.EASTPROVIDENCERI.NET

How to fill out sale of surplus property

How to fill out sale of surplus property:

1. Begin by gathering all necessary documents and information related to the surplus property being sold. This may include title deeds, property surveys, tax records, and any relevant legal documents.
2. Determine the appropriate method of selling the surplus property. This could be through a public auction, private sale, or listing with a real estate agent. Consider the specifics of the property and your desired outcome when making this decision.
3. If selling through a public auction, contact an auction house or government agency to inquire about the process and requirements. Obtain any necessary forms or applications and fill them out accurately and completely.
4. If opting for a private sale, prepare a detailed listing or advertisement for the property. Include relevant information such as the property's location, size, condition, and any unique features. Take high-quality photographs to attract potential buyers.
5. Consider hiring a real estate agent if you prefer professional assistance with the sale. They can guide you through the process, help with pricing the property, and handle negotiations on your behalf.
6. Set a fair and realistic asking price for the surplus property. Research similar properties in the area to get an idea of market value. It may be beneficial to have the property appraised by a qualified professional.
7. Once you have identified potential buyers, arrange viewings or open houses to showcase the surplus property. Be prepared to answer any questions and provide additional information on the property as needed.
8. When an interested buyer has been identified, negotiate the terms of the sale. This may involve price negotiations, contingencies, and any specific conditions or requests from the buyer.
9. Once an agreement has been reached, consult with a legal professional to draft a legally binding contract for the sale of the surplus property. Ensure that all terms, conditions, and obligations are clearly stated within the contract.
10. Finally, complete the necessary paperwork to transfer ownership of the property. This may involve signing over the title deed, transferring utility accounts, and settling any outstanding taxes or fees associated with the property.

Who needs sale of surplus property:

1. Government agencies that may have excess land or buildings due to consolidation, reorganization, or downsizing.
2. Businesses or organizations that have surplus real estate assets, such as unused office space or vacant land.
3. Individuals or homeowners who have inherited property they do not wish to keep or maintain.
4. Real estate investors or developers who specialize in purchasing surplus property for redevelopment or resale.
5. Non-profit organizations or charities that are looking to sell assets to generate funds for their programs or operations.
6. Educational institutions or school districts that need to dispose of surplus land or buildings that are no longer needed for educational purposes.

For pdfFiller’s FAQs

What is sale of surplus property?

Sale of surplus property is the process of selling assets that are no longer needed or used by an organization.

Who is required to file sale of surplus property?

Certain organizations or individuals may be required to file sale of surplus property, depending on the rules and regulations of their jurisdiction.

How to fill out sale of surplus property?

To fill out sale of surplus property, one must gather all necessary information about the property being sold, including its description, value, and any relevant documents.

What is the purpose of sale of surplus property?

The purpose of sale of surplus property is to generate revenue for the organization and to dispose of assets that are no longer needed.

What information must be reported on sale of surplus property?

Information that must be reported on sale of surplus property includes the description of the property, the sale price, the date of sale, and any relevant documentation.

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