Norfolk City Holds Online Real Estate Auctions
The City of Norfolk is set to conduct four online real estate auctions, aimed at selling vacant land within residential neighborhoods. Auctions will be hosted on GovDeals, a top-tier online marketplace that specializes in facilitating sales of surplus assets for government agencies
Bidding Process and Requirements
To participate in the bidding process, interested parties must submit a refundable deposit of $1,500 for each auction. This deposit is essential for securing a place in the bidding process. Furthermore, bidders are required to plan and commit to constructing a single-family home on any lot they successfully procure.
Meet With the Community
Winners of the auction will have additional responsibilities that go beyond financial investment. Successful bidders will need to engage with local neighborhood civic leagues and present their building plans for any acquired properties. This ensures that new developments align with community standards and revitalization efforts.
Auction Details and Timeline
The closing date for all auctions is scheduled for December 8. Participants are encouraged to review additional property details and understand the sale requirements that are listed on the GovDeals auction page.
About GovDeals and Its Impact
GovDeals is recognized as a premier marketplace for government and educational institutions, effectively enabling the sale of surplus assets ranging from industrial machinery to real estate. Catering to both sellers and buyers, GovDeals prides itself on transparency and accessibility.
By leveraging advanced technology, GovDeals empowers sellers to manage their listings with ease, ensuring they maintain control over how their assets are marketed and sold. Buyers benefit from the ability to find a wide array of surplus items across a single platform, which has already facilitated over $15 billion in sales.
Additional Information for Participants
Before bidding on any of the listed Norfolk properties, participants must create an account on GovDeals and complete a free registration process. This is a crucial step that enables buyers to access auction details and place bids effectively.
Contacts for Inquiries
Should you have any questions regarding the auction process or the properties available, you can reach out to:
Angela Jones
Director of Digital Marketing
(334) 301-7823
ajones@govdeals.com
Department of Housing and Community Development
501-A Boush St., Norfolk, VA 23510
P: 757-664-2470
For more information regarding city-owned property, you can contact:
VacantCityOwnedProperty@norfolk.gov
Frequently Asked Questions
What properties are available for auction?
The auctions include vacant land in various residential neighborhoods around Norfolk.
What is the minimum bid amount?
Minimum bids range from $48,000 to $99,000, depending on the property.
How can I bid in the auction?
Interested bidders must first create an account on GovDeals and submit a refundable deposit for each auction.
What commitments do successful bidders need to make?
Winners must agree to construct a single-family home on their purchased lot and present plans to the neighborhood civic league.
When does the auction close?
All auctions will close on December 8. Ensure to place your bids before this date!
