Madison County is currently liquidating some of the property it owns. This page offers our citizens the opportunity to come to a centralized location to learn about all of the various properties that are available at any given time.
The Madison County Board of Commissioners will accept an offer to purchase the following properties. Anyone interested in placing a bid must deposit 5 percent of their bid with the Madison County Planner at 107 Elizabeth Ln. Marshall, NC 28753.
Offers to purchase real property must be submitted to the Madison County Planner on the attached form. The initial bid will be presented to the Madison County Board of Commissioners for consideration at their next available meeting. The offer to purchase must be accompanied by cash or certified check made out to the County of Madison in the amount of 5% of the amount bid. After the bid is accepted a notice will be published in the local newspaper and any interested party may raise or upset the bid within 10 days from the date of publication.
Upset bids shall be submitted to the Madison County Clerk to the Board, Amanda Cutshaw. The minimum amount of the upset bid is determined by calculating 10% of the first $1,000 and adding 5% of the balance of the bid you plan to upset. (For example: if the first bid is $8,000 and you want to upset--you determine 10% of $1,000 and 5% of $7,000 (8000-1000) which is $100 (10% of 1,000) and $350 (5% of $7,000) which means the increased amount must be $450 and therefore the minimum upset bid is $8,450). After you determine what the upset bid will be, you must deposit 5% of the total bid with the County Planner.
Once an upset bid has been placed on a property, that bid will be re-advertised in the local media. Bidders are encouraged to contact officials regarding the status of the upset bid process. This process shall continue until there are no further upset bids and at that time the final bid shall be advertised in a local media source. Deposit of unsuccessful bidders shall be returned to the parties at the completion of the bidding process. The successful bidder must present a certified check for the entire balance due within 90 days of the last day for receipt of upset bids. If the balance due is not paid within the 90 day period the total amount of the deposit is forfeited to the County and the offer is rejected. (An extension of up to 45 days may be requested-approval of this extension is at the discretion of the Madison County Board of Commissioners.) Madison County Commissioners may choose to cancel the bidding process at any given time until closing. Upon payment of the balance in full the matter shall be placed the agenda of the next available meeting of the Board of County Commissioners for a resolution authorizing the Chairman to execute a quitclaim deed to the successful bidder. The purchaser may pick up the deed from Madison County Government after it has been executed. The purchaser shall be responsible for recording the deed and recording fees.