Sales of Real Property

HISD currently owns approximately 400 properties, including school sites, ancillary facility sites, and a limited number of vacant sites. From time to time, upon determination and approval by the Board of Education, sites are declared as surplus and made available for sale.

Surplus properties available for sale are sold in accordance with the following procedures:

• The district obtains appraisals and surveys for the properties.
• The district utilizes real estate agents for marketing properties in selected cases. In such cases, the district shall establish a fee and execute a listing and sales agreement with a real estate firm or agent.
• A minimum bid is determined and generally included in the bid documents along with information regarding the terms of the sale, including sale for cash or, in some cases, trade of properties.
• The district advertises for sealed bids in accordance with state law and provides bid documents to proposed bidders.
• Bids are opened publicly on the bid date.
• The district reserves the right to reject any or all bids and to withdraw all properties from sale or lease at any time such action is deemed to be in the best interest of the district.
• Upon acceptance of the recommended bid by the Board of Education, the sale is finalized in accordance with legal requirements.