Please explore the steps on how to purchase a Land Bank property and view property applications below.
Whether you’re a family looking for your first home or an investor seeking new community-based development opportunities, we’ve got you covered! Working with our member municipalities, Tri-COG Land Bank strategically recovers abandoned properties to create meaningful, positive change in neighborhoods and communities. TCLB’s inventory includes a range of houses and vacant lots with varying renovation needs, all with a clean, insurable title.
TCLB will select some properties to be available exclusively to owner occupants for the first 60 days. If an eligible owner occupant application or a good faith offer is not received within those 60 days, the property will be available for other uses and applicants to apply.
If you are interested in our Side Lot Development Program, which offers adjacent homeowners to a TCLB-owned eligible vacant lot the opportunity to purchase the lot at below-market price, please find more information about that program here.
To find your next home, garden, or construction project, please view our properties and contact us with any questions.
Residential Property Application Process
This process applies to properties with structures and vacant lots. The application process for side lots can be found here.
Step 1: Review Transferee Eligibility Criteria
Review Transferee Eligibility Criteria to purchase a property from the TCLB. (General TCLB eligibility criteria is included at the bottom of this document).
Step 2: View Available Properties
You can search our property database here. When properties are made available for sale, generally, TCLB will set a 30 day time period before Applications are reviewed for the first time.
Some properties will be only available to owner occupants for the first 60 days. If an eligible application is not received within those 60 days, the property will be available for other uses and applicants to apply.
Step 3: Complete an Application
Complete an application for the property you are interested in purchasing. As part of the application, applicants are required to submit a description of how they plan to develop and maintain their property of interest and to submit proof of necessary finances. Applicants will be subject to an application fee and may be subject to a credit check.
The approval of an application and transfer of a property is at the sole discretion of the TCLB Board. Although offer amount is an important aspect of the application, the property use, rehabilitation plan (if applicable), and other aspects of the application submitted are also important. The highest offer amount does NOT guarantee the transfer of a property and submitting an application does not guarantee approval to purchase a property.
Step 4: Sign Agreement of Sale
After TCLB has selected an applicant and determined that the transfer plans are eligible and consistent with Land Bank priorities, then the TCLB will prepare an Agreement of Sale for the prospective buyer to review and sign. This Agreement of Sale will include all conditions of the purchase; including property repairs, improvements, and timeline which must be completed. After the execution of Agreement of Sale the TCLB will transfer the property to the new owner.
Step 5: Repairs & Final Inspection
TCLB General Eligibility Criteria
- Has not owned (within past 7 years) a property subject to tax foreclosure.
- Does not own any properties that are delinquent on municipal taxes, school taxes, county taxes, water, sewage, or refuse bills or other municipal claims.
- Does not have un-remedied code violations or unfulfilled state and local fines on properties owned.
- Does not own property which has a history of criminal activity or subject to disruptive properties ordinance prosecutions during the applicant’s ownership.
- Has not violated previous agreements with the TCLB or relinquished ownership of properties previously acquired from the TCLB back to the TCLB.
- Was not the owner of the property at the time of the tax foreclosure action which transferred title to the TCLB.
Eligibility requirements may not be circumvented by having another person or entity apply for the property on behalf of an ineligible party.
NOTE: Offers to purchase a Land Bank owned property will not be reviewed until the Land Bank receives a complete Application, including any documents required to be submitted with the Application and payment of the Application Fee. Completed offers will be reviewed in the order that they are received by the Land Bank. Although offer amount is an important aspect of the application, and you should therefore make your highest and best offer to the Land Bank, the property use, redevelopment/rehabilitation plan (if applicable), and other aspects of the Application will also be considered by the Land Bank. Additional information may be requested by the Land Bank. The highest offer amount does NOT guarantee the transfer of a property and submitting an Application does not guarantee approval to purchase a property. The approval of an Application and transfer of the property shall be at the sole discretion of the Land Bank. Please contact us for any additional questions or concerns about acquiring Land Bank properties.