Residential Sales

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You can purchase a home from the Land Bank. 

Click here to search for structures available for sale.  Many of these structures are in significant need of repair.  If you find a house that you may be interested in purchasing, please submit a Residential Property Interest Form to the GCLBA as indicated on the application. Please allow at least 90 days for your application to be reviewed. After the review is complete, a sales team member will contact you by phone or email to schedule a showing of the property. The Land Bank has a strict policy on showings

If you are interested in purchasing the property after the showing, contact a sales team member to place an offer. If there are multiple offers on the same property, a highest and best bid must be submitted in writing. The sales manager then reviews the offers. A sales team member will then contact you to inform you of the sales manager’s decision. Closings must occur within 10 days of acceptance, or as the sales manager’s schedule will permit. If for any reason the offer was not accepted, a sales team member will either call or mail a letter with an explanation.

Current year foreclosure property inquiries will not be reviewed until the Genesee County Treasurer has deeded the property to the GCLBA. This occurs on January 1 of the year following the foreclosure.

Inquiries on properties with pending demolitions will not be reviewed until demolition has been completed and property has been released.

 

Land Contract Rules & Terms

  • Land contract offers are not accepted on homes renovated through the Neighborhood Stabilization Program.
  • A minimum 10% down payment is required on land contracts.
  • A closing deposit of $100 is required within 5 days of offer acceptance. Canceled or missed appointments will result in loss of deposit.
  • All land contracts have an interest rate of 7% and a $2 collection fee set by the GCLBA board.
  • Properties listed with realtors will be expected to receive cash or mortgage offers.  

 

 

MISSION

The Land Bank's mission is to restore value to the community by acquiring, developing and selling vacant and abandoned properties in cooperation with stakeholders who value responsible land ownership.

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452 S. Saginaw Street, 2nd Floor
Flint, Michigan 48502

PHONE: 810.257.3088
FAX: 810.257.3090