R23-22-8. Detailed Disposition Procedures

  After the appropriate determination is made that the real property is surplus, DFCM shall endeavor to sell the surplus real property on the open market, unless such property is to be conveyed to another State agency or public entity in accordance with applicable law or if DFCM is otherwise directed by the Utah State Legislature. DFCM may use the services of a real estate professional in accordance with State law and selected pursuant to the Utah Procurement Code and applicable rules. The sale shall be processed as follows:

  (1) Approvals. DFCM shall confirm that all necessary approvals have been sought for the declaration of surplus property.

  (2) Appraisal. Except for transaction where State law does not require a certain value be established or when the Director of DFCM estimates that the value of the property is less than $100,000, the value used by DFCM in the sale shall be based upon an appraisal completed by an appraiser that is a State of Utah certified general appraiser under Title 61, Chapter 2g, of the Utah Code and when determined by the Director that it is in the interest of the State, the Director may require that the appraiser be a State of Utah licensed MAI appraiser.

  (3) Listing Price. DFCM shall establish a listing price based on the appraisal or, if no appraisal is required, based upon DFCM's knowledge of prevailing market conditions and other circumstances customarily used in the industry for such sales.

  (4) Advertise.

  (a) When not using a real estate agent, the property shall be reasonably identified and placed in a newspaper of general circulation throughout the State of Utah, including the area of the subject property, for a period of no less than ninety (90) calendar days. At the discretion of the Director, publication may also occur on the DFCM website and in a local or regional publication. DFCM shall set a time deadline for the submission of bids.

  (b) When using a Real Estate Agent, in lieu of the advertising referred to in Rule R23-22-8(4)(a) above, advertising may be through a customary service used by the real estate agent.

  (5) Award of Contract. DFCM shall endeavor to enter into a contract with the bidder/offeror that provides the best value to the State of Utah taking into account the price, other terms and factors related to the sale. If the contract is with a person that does not have the highest bidding/offered price, then DFCM shall file a written justification statement describing the circumstances in which the selected bidder/offeror represents the best value to the State of Utah.

  (6) Document Preparation and Approvals. In accordance with State law, DFCM shall negotiate, draft and execute the applicable Real Estate Contract or transaction documents with due consideration to the State agency's comments. The State agency may be required by DFCM to be a signatory to the Contract. Legal documents shall either be on a form approved by the Utah Attorney General or submitted for approval to the Utah Attorney General. The same requirements shall apply to closing documents prepared by the title company.