NORFOLK, Va. - The City of Norfolk will hold an auction allowing neighbors, developers, builders and investors to purchase and redevelop vacant residential lots around the city.
The Vacant Property Online Auction program's application and qualification process is the same for all participants, from people interested in developing an empty lot in their neighborhoods to builders looking for their next project.
Property purchases will be awarded to the highest bidder who meets the city's housing priorities and goals to transform underutilized properties, increase economic inclusion, strengthen neighborhoods and communities with quality, affordable housing options.
“The vacant property auction program was developed in response to residents’ demands for a more transparent, process that gives all interested parties the same opportunity to bid for and purchase a city-owned residential lot,” said City Manager, Dr. Chip Filer. “The buyer benefits with a unique opportunity to invest in a limited resource, the neighborhood benefits from the potential for increased property values which attract residents and businesses, and The City of Norfolk benefits by the transformation of vacant lots to tax generating properties.”
Ten to 20 vacant properties suitable for single-family home development will be auctioned each quarter.
The auctions will be administered by GovDeals, a third-party online auction provider specializing in surplus government property liquidation. GovDeals receives a 5 percent commission on each property sold, which will be paid by the buyer.
Currently, applications are open for the Vacant Property Online Auction program's Spring 2022 auction. To learn more about the process, complete registration, submit applications or browse properties available for sale, click here.
This phase concludes at noon on Thursday, May 26. The auction will then go live for a 7-day bidding phase that runs from Friday, May 27 through Thursday, June 2.
For more details, visit the website, call (757) 664-2470 or email vacantownedcityproperty@norfolk.gov.
