Please click the “apply for property” link, fill out the application, and return it to us for review. We will confirm receipt, determine your eligibility, and be in contact with you. Please feel free to contact us if you need assistance or have questions.
In order to be eligible to purchase a property from the land bank, applicants must be:
Tax-current on all property they own
Have no foreclosures in the last five years
Additionally, the land bank works with your local municipality to make sure you do not have any outstanding code violations and (if applicable) your intended use is consistent with zoning and community objectives.
Properties sold as a vacant lot shall be priced per the following guidelines approved by the Land Bank Board, exclusive of any recordable fees. All additional expenses, including but not limited to, deed preparation fees, conveyance fees, survey costs, court costs, title examination and insurance are the responsibility of the transferee and are not included in the sale price. In the case of forfeited unbuildable lots, Court costs of up to $75 will be borne by the ACLRC; additional costs will be borne by the purchaser.
Residential buildable lot
To private individual or corporation, Market Value
To non-profit agency for a non-profit use, $500.00
To the adjoining property owner for personal use, $500.00
Residential unbuildable, $200.0
To the adjoining property owner for personal use, $100.00
Commercial buildable lot
To a private individual or corporation, Market Value
To a non-profit agency for a non-profit use, $1,000.00
To the adjoining property owner for a use related to the
use of the adjoining property, $1,000.00
Commercial unbuildable lot, $200.00
Market value is defined as any one of the following: the Auditor’s value of a property, a broker’s opinion of value with analysis and comparable sales data, or an appraisal. The ACLRC reserves the right to reject, or seek additional information prior to accepting, a broker’s opinion of value, if in the ACLRC’s assessment, the broker’s opinion of value does not provide sufficient information to properly value the subject property. The cost of any broker’s opinion of value or appraisal shall be borne by the applicant and having secured either does not guarantee that the applicant will be awarded the ability to purchase the property.