A former Holly Ridge nursing home could have a new owner in the near future following the town council accepting a $200,000 offer on the property.

The offer was accepted during the council’s Tuesday night meeting with the condition that the council can accept a higher bid for a 10-day period.

During the meeting, the council voted to change the method of sale on the 325 Sound Road property from electronic auction to the upset bid process, Holly Ridge Town Manager Joe Pierce, said. They then accepted the offer, which set a 10-day upset period into motion.

Mark Woodley, co-owner of IOE Integrations, Inc., made an offer of $200,000 in cash on the property, Pierce said.

Woodley said the company preferred not to say what their plans are for the property until the 10-day upset period is over. He compared the process to playing chess: you never share what your next move will be.

“Once the upset bid process is complete, my partner and I may be willing to sit down and discuss what our future plans are,” Woodley said.

The former nursing home, Pinewood Harbor, was originally shut down by the Adult Care Licensure Section of the North Carolina Department of Health and Human Services in January 2015. The department cited violations of numerous health and safety codes in a summary suspension letter.

The facility, which began operations in October 2011, had transferred ownership to Holly Ridge in September 2015, according to previous Daily News reports.

“This morning we will send an advertisement to the newspaper and once it’s published in the newspaper, the 10 day period of upset will begin,” he said Wednesday. “If the bid’s not upset within the 10-day period, I will collect the council and present the final offer and they can either accept or reject it.”

The decision to change the method of sale, Pierce said, was unanimous.