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Montgomery County approves Letter of Intent to buy 6261 Atlanta Highway for $1.4 million
Summary
Under a waived-rules item the Commission approved a Letter of Intent and Purchase & Sale Agreement for 6261 Atlanta Highway with a $1.4 million purchase price, $25,000 earnest money, a 90-day inspection period and standard closing provisions.
Under a waived‑rules item on March 3, the Montgomery County Commission approved a Letter of Intent and Purchase & Sale Agreement for the property at 6261 Atlanta Highway.
The LOI and draft PSA set a purchase price of $1,400,000 with a $25,000 earnest money deposit to be held in escrow. The agreement gives the buyer (the county) a 90‑day inspection/due‑diligence period during which it may conduct environmental, geotechnical and title reviews; the county may terminate during that period and receive a refund of earnest money if the property is not satisfactory. Closing is scheduled within 30 days after the inspection period unless the parties agree otherwise.
The PSA includes standard provisions on title, environmental inspections, indemnities and allocation of closing costs. The LOI states the seller will provide existing environmental documentation and title materials; the seller is responsible for curing title exceptions and paying specified closing costs. The LOI/PSA materials were provided to commissioners as part of the waived-rules packet.
Why it matters: Acquisition of this parcel could support county facility, operations or economic development plans; the LOI begins a due‑diligence process that will allow staff to assess suitability and costs before a final purchase decision.
