Determination of Terms of Acquisition

(1) Price. Each acquisition of real property or an interest therein for monetary consideration shall be at a price generally not higher than the fair value of such real property, which fair value shall be determined by the EEA Agency Head based on a review of the appraisal(s) of such real property. Any purchase price exceeding 10% of the value established by appraisal(s) must be approved by the Secretary. (2) Any agreement for purchase of real property by an EEA Agency shall be in the form set forth by the Secretary after consultation with the Commissioner of DCAMM, with such changes as deemed appropriate by the EEA Agency Head in connection with a particular acquisition project.