Bid on White's Building rejected

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By Navideh Forghani nforghani@nbcaugusta.com

Story Published: Nov 3, 2009 at 7:31 PM EDT

Story Updated: Nov 3, 2009 at 7:31 PM EDT

AUGUSTA, Ga. - The White's building went up for auction Tuesday. The owner of Oncar Automotive bid $800,000 for the building, but the FDIC refused the offer. The sole bidder and the FDIC are in legal talks over whether or not they can refuse that bid.

The bidder tells NBC Augusta 26 News the FDIC never advertised a condition for sale.

The FDIC says they were expecting the minimum bid to be at $1.5 million. They could bring in a third investor if an agreement isn't reached. They hope they have something resolved by mid-December.

 


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