The Nahant Board of Selectmen met with Town Administrator Tony Barletta to give an update on the appraisal, procurement, and eventual sale of the Coast Guard housing properties.

Barletta recently met with appraiser John DeStefano of First Fidelity Appraisals at the location of the properties to begin the process of evaluating the location.

“I spoke to a number of different appraisers, and I wanted to get someone who was familiar with the local market,” Barletta said. “And that’s where we ended up on.”

Barletta said that comparison sales are a big component in determining prices during appraisals, but he added that a sale of this type is somewhat unprecedented.

“A big factor in appraisals are comparison sales,” Barletta said. “But there’s not many of similarity to what we’re going to be selling… The sale of these properties are actually going to create that database of comparables for our future value.”

Barletta also brought up the idea of doing an additional procurement to have a real-estate agent join the effort to provide marketing expertise and assist in the overall sales process.

“I’m working with KP Law to develop that procurement document where we’ll solicit marketing proposals from real-estate agents,” Barletta explained. “And we have to do that because the value of these properties triggers Massachusetts’ Chapter 30B Procurement Law.”

Chapter 30B governs the procurement of property by Massachusetts municipalities. Its procedures are in place to ensure open and fair competition for contracts paid for with public funds.

Board Chairman Mark Cullinan emphasized Wednesday that price will not be the sole criteria in selecting a real-estate broker.

“One of the criteria will be local knowledge,” Cullinan said. “So the broker needs to demonstrate that he or she has good knowledge of the real-estate market in this area.”

When it comes to the sales process, Barletta presented two different structures — one is which all lots become available at once with bids due at the same time, and a staggered structure in which lots are bid on one at a time. Selectman Josh Antrim endorsed the staggered method, saying it would give potential bidders more opportunities if they are not the highest bidder the first time.

Barletta said he hopes the first lot will go for sale as soon as April. He added that the appraisal process is still ongoing.

Since Town Meeting first approved demolition of the town-owned properties in 2021, the town has vacated nine out of the 12 units.

After putting the project out for bid, the lowest bidder, American Environmental Inc., offered to undertake the demolition and hazardous-material removal of the nine currently vacant units for $669,000.