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Hoover delays decision on sale of 3021 Lorna Road after council questions earnest money
Summary
Council continued consideration of a letter of intent to sell 3021 Lorna Road after members expressed concern that the buyer's $5,000 earnest-money deposit was below market; staff proposed options including raising escrow to $20,000 or a 48-hour break clause.
Hoover City Council voted to continue action on a proposed letter of intent to sell city-owned property at 3021 Lorna Road after councilors raised concerns about the buyer's proposed earnest-money deposit.
The attorney read the proposed resolution authorizing a letter of intent for the sale. Several councilors questioned the…
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