Property For Sale

We will post information about properties for sale in our blog, Real Estate Services Updates. For the latest information about properties for sale, refer to our blog or contact us.

Once the City Council has authorized the sale of a property, the property is classified as "surplus." The Council directs the method for selling the property in the ordinance or resolution authoring the sale. Common methods of sale are:

This sales method is used to achieve the highest market-based price. For example, Real Estate Services contracts with a real estate broker who markets the property through multiple listing services, websites, and email mailing lists. The broker receives offers over a period of two to eight weeks. The broker and the City evaluate offers. If no offers are received, additional time is allowed for marketing. If multiple offers are received, the City and the broker evaluate the offers and may ask for a submittal of highest and best offers. The details of each offering will be specified when the property is made available for sale.

In this sales method, Real Estate Services manages the marketing and sale process with City staff, advertising the property for sale, with a specific date for bids to be submitted. The City can accept the highest responsive bid, or may choose to reject all bids. If few or no bids are received, the bid submittal date may be extended.

This sales method can be used when a particular buyer offers unique benefits to the City that would not necessarily be available from another purchaser. This is most common when another government agency, a nonprofit or an institution wants a property. A fair market value is determined as well as any other terms and conditions which may or may not affect the price. This method can also be used in the sale of properties of small size to adjacent property owners.

This sales method is used when the City has a specific goal in mind for the property, such as development of affordable housing, or when other specific urban design features or improvements are desired in the future development of the property.