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District of Columbia Code Division II. Judiciary and Judicial Procedure § 16-2939. Report of open-market sale.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A broker appointed pursuant to § 16-2938(b) to offer real property for open-market sale shall file a report with the court no later than 7 days after receiving an offer to purchase the real property for at least the value determined pursuant to § 16-2934 or § 16-2938.

(b) The report required by subsection (a) of this section shall contain the following information:

(1) A description of the real property to be sold to the buyer;

(2) The name of the buyer;

(3) The proposed purchase price;

(4) The terms and conditions of the proposed sale, including the terms of any owner financing;

(5) The amount to be paid to lienholders;

(6) A statement of contractual or other arrangements or conditions of the real estate broker's commission; and

(7) Other material facts relevant to the sale.

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Cite this article: FindLaw.com - District of Columbia Code Division II. Judiciary and Judicial Procedure § 16-2939. Report of open-market sale. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-ii-judiciary-and-judicial-procedure/dc-code-sect-16-2939/

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