Section 14-711 - Court ordered sale(a) If the court orders a sale of property, the sale shall be an open-market sale unless the court finds that a sale by sealed bids or an auction would be more economically advantageous and in the best interest of the cotenants as a group.(b)(1) If the court orders an open-market sale and the parties, not later than 10 days after the entry of the order, agree on a real estate broker licensed in the State to offer the property for sale, the court shall appoint the broker and establish a reasonable commission.(2) If the parties do not agree on a broker, the court shall appoint a disinterested real estate broker licensed in the State to offer the property for sale and shall establish a reasonable commission.(3) A broker appointed under this subsection shall offer the property for sale in a commercially reasonable manner at a price not lower than the determination of value and on the terms and conditions established by the court.(c) If the broker appointed under subsection (b) of this section obtains within a reasonable time an offer to purchase the property for at least the determination of value: (1) The broker shall comply with the reporting requirements in § 14-712 of this subtitle; and(2) The sale may be completed in accordance with State law other than this subtitle.(d) If the broker appointed under subsection (b) of this section does not obtain within a reasonable time an offer to purchase the property for at least the determination of value, the court, after hearing, may: (1) Approve the highest outstanding offer, if any;(2) Redetermine the value of the property and order that the property continue to be offered for an additional time; or(3) Order that the property be sold by sealed bids or at an auction.(e) If the court orders a sale by sealed bids or an auction, the court shall set terms and conditions of the sale.(f) If a purchaser is entitled to a share of the proceeds of the sale, the purchaser is also entitled to a credit against the price in an amount equal to the purchaser's share of the proceeds.Added by 2022 Md. Laws, Ch. 402, Sec. 1, eff. 10/1/2022.Added by 2022 Md. Laws, Ch. 401, Sec. 1, eff. 10/1/2022.