NECC Beallsville Property Sale Summary

After keeping property in the market to sell for over a year, NECC realized only unique buyers would purchase NECC Beallsville property (20520 Beallsville Rd, Beallsville, MD 20839). Because of this unique nature, NECC had a challenging time finding a potential buyer to meet NECC high expectations despite the strong Real Estate market where the property value was significantly appreciated. Property was vacant since May 2022, which added more costs to maintain the property and bank mortgage interest. Water pipeline, well and septic systems were deteriorating because of not being actively used. Based on the financial analysis, risk analysis and the property inspection reports, it would be in the best interest and beneficial for NECC to sell the property in the long run, as opposed to holding it. Because of these current maintenance and future add-on costs, the NECC leadership made the decision to sell the property instead of renting. The status relating to the sale of the property in question was discussed several times during the NECC EC/BOT/BOA meetings. A buyer submitted offer was evaluated, discussed, and thoroughly negotiated by the NECC. Finally, the buyer offer was accepted, and the property was sold on October 18, 2023.

Steps, timeline, and due diligence NECC took for the property to be sold

History and Background:

  • NECC purchased: 10/21/2008 for $700,000.
  • Property Occupied: until May 2022.
  • Property vacant since June 2022.
  • A decision was made at the beginning of 2022 to sell the property.


Ghimire Homes (Broker):

  • 1 st Listing: 5/1/2022 for $849,900
  • Sale price reduced: 8/8/2022 to $824,900.

Charles H. Jamison, LLC (Broker):

  • 2 nd listing: 3/22/23 for $749,900.
  • ale price decreased: 6/6/2023 to $699,900.

Ghimire Homes (Broker):

  • 3 rd Listing: 7/25/2023 for $670,000


  • 1 st Offer received and ratified on 8/17/2023.
  • Later the contract was terminated with the buyer and seller mutual agreement.
  • 2 nd Offer received and ratified on 10/9/2023.
  • Property sold on October 18, 2023

Decision Making Process:

The decision to sell the property is made as per the terms and conditions stated in the Bylaws, which provides that the Board of Trustees (BOT) is required to seek agreements from Patrons and two-thirds majority members of NECC Executive Committee, Board of Trustees, and Board of Advisors. In fact, more than two-thirds of the NECC Executive Committee members and a unanimous consensus from the Patrons, the available Board of Trustees members, and the Board of Advisors members agreed with the terms and conditions outlined in the buyer offer. AGM Feedback: Although not required by the Bylaws, the detailed terms and conditions included in the buyer’s offer and projected financial analysis based on the proposed sale were discussed with the general membership during the NECC Annual General Meeting (AGM) held on October 15, 2023. There were no objections for the sale of the Beallsville property from the general members during the AGM. If anyone wants to know in detail about the Bearsville property sale, please contact us at