Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Sale Of City-Owned Property Located At 7508 Grant Court To Haydar Life Corporation In The Amount Of $240,000.00; Authorizing The Appropriate City Officials To Execute A Residential Contract For Sale And Purchase Along With A Warranty Deed.
Body
Staff Recommends Approval of Attached Resolution.
Explanation:
On April 3, 2015, the City acquired the real property located at 7508 Grant Court consisting of a single family residence from Sean Cononie by Special Warranty Deed. At the time of acquisition, the house was in need of repairs and unpermitted improvements needed to be corrected. Additionally, the in-ground pool needed to the repaired. The estimated cost to rehabilitate the property exceeds $30,000.00, exclusive of the cost to repair the pool.
On November 15, 2017, the City Commission passed and adopted Resolution No. R-2017-330 which approved and authorized the issuance of Blanket Purchase Order No. B003071 with Real Estate Asset Disposition Corp. ("READ") to provide real estate services to the City.
City staff determined that READ would market the property for sale and it would be sold "As Is" with all closing costs to be paid by the buyer.
READ's initial efforts resulted in a previous offer from a potential Buyer in the amount of $269,900.00 that was scheduled to be considered by the City Commission at its May 16, 2018 meeting; however the offer was withdrawn by the Buyer prior to the meeting.
READ's ongoing efforts, which included listing the property on MLS and conducting two open houses, have resulted in multiple offers to purchase the property in its "As Is" condition and these offers are listed below.
$240,000.00 Haydar Life Corporation
$234,100.00 Gomez Holdings Group, Inc.
$214,500.00 Rapid Real Estate Solutions LLC
$214,500.00 Keystone Property Investments LLC
$210,500.00 Derek Bernier
$210,000.00 Samjack Blackstone LLC
$20...
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