SECTION 123.12. Land and Real Property Acquisition, Negotiated

(a) Commission staff shall establish procedures for the process to acquire real property in accordance with state law.

(b) Written responses to the request for offers to sell from property owners will be evaluated by staff of the Commission and the Purchasing Agency. All final recommendations shall be presented to the Commission or the Purchasing Agency for acceptance. All appropriate studies, appraisals and title work shall accompany such recommendations.

(c) The Commission or the Purchasing Agency shall accept offers which are in the best interest of the State of Texas. The Commission and the Purchasing Agency retain the right to reject any and all offers.

(d) The Commission or the Purchasing Agency, after acceptance of a written offer to sell property, is authorized to complete the purchase as follows:

(1) A real estate contract will be executed by the seller and the Commission stating all specific conditions of the transfer of property, including delivery of draft deeds; acquisition of title insurance policies; conducting surveys, environmental tests, and other such matters; and other details of the individual transaction. A closing on the transaction shall be scheduled at the convenience of the parties.

(2) The terms and conditions under which the Commission or the Purchasing Agency purchases the real property shall be designed to comply with applicable law to protect the interests of the State of Texas and shall be reasonable and prudent under normal business practices.

Source Note: The provisions of this §123.12 adopted to be effective March 18, 2002, 27 TexReg 2005; amended to be effective November 15, 2011, 36 TexReg 7658