CFR > Title 41 - Public Contracts and Property Management > SUBTITLE C—Federal Property Management Regulations System > CHAPTER 102—FEDERAL MANAGEMENT REGULATION (parts 102 to 102-197) > SUBCHAPTER C—REAL PROPERTY (parts 102-71 to 102-86) > PART 102-75—REAL PROPERTY DISPOSAL > SUBPART C—Surplus Real Property Disposal (§102-75.250 to §102-75.944) > 102-75.885—What are the disposal agency's responsibilities concerning negotiated sales?

102-75.885—What are the disposal agency's responsibilities concerning negotiated sales?

The disposal agency must—
(a) Obtain such competition as is feasible in all negotiations of disposals and contracts for disposal of surplus property; and
(b) Prepare and transmit an explanatory statement if the fair market value of the property exceeds $100,000, identifying the circumstances of each disposal by negotiation for any real property specified in 40 U.S.C. 545(e), to the appropriate committees of the Congress in advance of such disposal.