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Board authorizes 14-day extension as buyer seeks $500,000 reduction for downtown Ocala warehouse
Summary
A buyer asked the district to reduce the purchase price for a downtown Ocala warehouse by $500,000 citing more than $500,000 in repair costs; the board agreed to let the chair sign a short due-diligence extension to allow public notice and additional review.
The Marion County School Board agreed late on May 27 to authorize a short extension of the buyer's due-diligence period for a downtown Ocala warehouse after the buyer sought a $500,000 reduction in the agreed sale price.
Real-estate counsel and the board's outside broker described a negotiated path forward: rather than deciding immediately on the buyer’s requested price reduction, the board directed staff to execute a short extension of the due-diligence period (board and staff agreed on…
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