Frequently Asked Questions
If you click “our properties”, you can filter our inventory to show you only what interests you by:
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- Clicking in the search bar and then clicking “filters” next to the search bar
- Select the neighborhood, zip, or property classification such as residential/commercial/
industrial or any other criteria you want to search by. If you don’t have specifics, skip to step 3 - Improved means it has a structure on it for rehab and vacant means it’s a lot.
- Scroll to “property status” click inside the box and select “available” and then click “apply” to see inventory within your specifications or our entire inventory if you did not make any other selections.
- Our current inventory is mostly vacant lots available through our Sheriff/Marshall deed program. You can learn more about the program and the application process here. You must get the property appraised and the cost is 40% of that value. In addition, it is highly recommended that you do the quiet title work (get a title company to run a report to see if there are any outstanding liens on the property + pay them) to obtain full ownership of the property.
- All other properties are sold as-is by way of a traditional closing.
- Once you identify a desired property, click the address which is a hyperlink. In the top right corner, select “apply for this property”.
- That takes you to the ePropertyPlus portal where you must create a log-in and password. From there, you can access the application and can submit it via that portal as well.
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The Land Banking Depository Program is limited to non-profit or governmental entities. For-profits may participate via joint venture as minority partner. Entities must complete an application and upon staff recommendation, the MALB Board of Directors approves the Land Banking relationship.
Once the Board approves, a formal Land Banking Agreement is drawn up between the entity and the MALB. The Agreement details the responsibilities and mechanics of the relationship. Once the Agreement is in place, the entity will transfer title to MALB. Property maintenance and insurance are provided by MALB, thereby minimizing violations of housing and building codes and public nuisances on properties to be developed for affordable housing.
The holding costs for insurance, property maintenance and solid waste fees are absorbed by the granting entity. Payments are made to the MALB in real time and the property is tax-exempt during the banking period.
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Click the button below to learn more