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Buyer granted extension and adds $5,000 nonrefundable earnest money for Deacon Road sale
Summary
Board approved an addendum extending the Deacon Road sale closing date to Aug. 15 and requiring an additional $5,000 nonrefundable earnest deposit, raising nonrefundable deposit to $10,000.
Holmes County commissioners approved an addendum to extend the closing date on the county’s Deacon Road sale to Aug. 15 and accepted an additional $5,000 nonrefundable earnest deposit from the prospective buyer.
Mike Albus of Performant Realty, representing the prospective buyer, told the board the buyer’s 1031 exchange closing was delayed and requested the extension; the buyer pledged an additional $5,000 nonrefundable earnest money, bringing total nonrefundable deposits to $10,000. “He is still moving forward toward closing,” Albus said, and asked the board to approve the addendum so the buyer could deliver the additional funds to escrow.
Commissioners approved the extension and instructed County staff (including Commissioner Earl, per the discussion) to execute the addendum. No other changes to the purchase price or property conditions were discussed at the meeting.
