§ 53867 Property Sale Minimum Value

• •The government can sell property or a lien for less money than they paid if they can't sell it for the full amount.
• •They need a big vote (four-fifths) to decide this.
• •They can't sell it for less than what the property or lien is really worth (fair market value).

The city bought a house for $100,000 but now wants to sell it. They spent $5,000 on repairs and have $2,000 in unpaid fees. They can't find a buyer for $107,000.

The city can vote to sell the house for less than $107,000, but they can't sell it for less than what it's actually worth now. If the house is worth $95,000 today, they can sell it for that.