How to Purchase a Property

I’m interested in a Land Bank property. How do I buy a property from the Athens County Land Bank?

The first step in acquiring a property from the Athens County Land Bank is to fill out our Purchaser Qualification Form. This form qualifies an individual, business, or other entity as eligible to purchase from the Land Bank. The second form to fill out is our Application to Acquire Property, where the applicant lists the specific property they are interested in purchasing. 

If a property is not yet ready for disposition, it likely means that further work needs to be done. This may be due to imminent demolition, ongoing waste diversion, brownfield remediation, or other factors. In this case, an applicant’s information is recorded in our database, and they will be notified of progress as it occurs. 

If an applicant is interested in acquiring a property as green space/a side lot, there are usually no further items that need to be submitted. 

If an applicant is interested in renovating an existing structure or building a new one, we require a detailed project proposal. Requirements for project proposal submissions are sent out at the time applicants are notified of the request for proposals. Examples of past proposals are provided at this time. Project proposals often include details such as estimated renovation/build costs and source(s) of funding.

Project proposals and green space/side lot dispositions are discussed at one of the Land Bank’s public monthly board meetings. The Board of Directors must hold a vote to dispose of a property to a qualified applicant. 

If the purchaser is renovating, building, or demolishing a structure as part of their end-use of a property and has not completed similar work of a Land Bank property in the past, it is our policy to not transfer the property into the purchaser’s name until the project reaches a predetermined point of satisfaction determined by the board and the purchaser. This policy was adopted to ensure that a purchaser fulfills their proposed use of the property that was submitted to and voted upon by the Board of Directors. 

How much does it cost to buy a Land Bank property?

The Athens County Land Bank does not often have set purchase prices. There are usually four circumstances to consider when it comes to purchase price:

1. If there are no other qualified applicants for a property, or if no other qualified applicant submits a project proposal, the applicant may negotiate a purchase price with the Board of Directors. 
2. If there are two or more qualified applicants for a property, the Board of Directors may vote to dispose of the property to the applicant with the end-use they believe to be the best fit. In this scenario, the applicant may negotiate a purchase price with the Board of Directors. 
3. If the proposed end-uses of a property are similar or there is no obvious best end-use, the Board of Directors has historically set a minimum bid for the property. Qualified applicants who submitted proposals are then asked to submit sealed bids to be opened at a predetermined time. The highest bidder would be awarded the property. 

There may be a predetermined minimum bid or sale price if a property is part of our Rural Acquisition (or “Pay-in-advance”) program. Details about this program can be found here.