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Home > City Departments > Real Estate > Purchase of City Property

Purchase of City Property

Purchaser Qualifications – General

  • Any interested purchaser must be current on all financial obligations to the city (taxes, sewer, water, user fees, violations, etc.)
  • Provide evidence of financial ability to acquire and maintain property
  • Provide verification of current source(s) of income.
  • If the purchaser owns any property in the City, the property must be free of any code violations.

Purchaser Qualifications – Residential or Commercial Structure

  • A purchaser must provide copies of bank statement(s) or line of credit verifying immediate access to a minimum of $5,000 (five thousand dollars).
  • Upon submission of above requirement, the Division of Real Estate will make the subject property available for interior inspection by the interested party.
  • Additional financial information related to acquisition and rehabilitation costs may be required from the purchaser.

Acquisition Process

  • Complete a REQUEST TO ACQUIRE CITY OWNED PROPERTY form. This request asks that a purchaser provide some basic information to the City before a purchase file is opened. The information required is specific to residential / commercial structures or vacant lot acquisition.  The REQUEST must be submitted to the Division of Real Estate for review and release by the Land Use Planning Committee.

  • If the Land Use Planning Committee determines that the property is needed for public purpose or development and can not be released, the Division of Real Estate will notify the interested party.

Residential or Commercial Structure

If the property is released for sale by the Land Use Planning Committee, the following is required:

  • A purchaser must submit a detailed REPAIR/REHABILITATION/REDEVELOPMENT PROPOSAL form.
  • Submit a budget for the acquisition and rehabilitation of the structure.
  • Submit evidence of the financial ability to meet the budget in the form of bank statements, line of credit, or letter of commitment from a recognized financial institution.
  • Submit copies of paid receipts of tax, water, sewer, and user fees for all property owned in the City of Buffalo.
  • Provide an appraisal of the property from a Licensed Real Estate Appraiser establishing its value. The purchaser is responsible for cost of Appraiser’s Services.  DO NOT HIRE AN APPRAISER UNTIL ADVISED TO DO SO BY THE DIVISION OF REAL ESTATE.

 Vacant Land for Development Purposes

If the property is released for sale by the Land Use Planning Committee, the following is required:

  • A preliminary meeting with representatives of the City of Buffalo Division of Real estate is required. A project manager will be assigned to assist with proposal development.
  • An applicant must provide development, construction, and financial plans sufficient to erect and maintain a structure.
  • Provide appraisal of the property from a Licensed Real Estate Appraiser establishing its value. The purchaser is responsible for cost of Appraiser’s Services.  DO NOT HIRE AN APPRAISER UNTIL ADVISED TO DO SO BY THE DIVISION OF REAL ESTATE.
  • The specified structure must be erected on the premises within twelve (12) months.

Vacant Lot Adjoining Existing Structure

If the property is released for sale by the Land Use Planning Committee, the following is required:

  • Detail proposed land use.
  • Submit copies of paid receipts of tax, water, sewer, and user fees for all property owned in the City of Buffalo.
  • Provide appraisal of the property from a Licensed Real Estate Appraiser establishing its value. The purchaser is responsible for cost of Appraiser’s Services.  DO NOT HIRE AN APPRAISER UNTIL ADVISED TO DO SO BY THE DIVISION OF REAL ESTATE.

Upon receipt of the completed REQUEST TO ACQUIRE CITY OWNED PROPERTY FORM, the Division of Real Estate will review the application and inform the interested party of the results of the review.