Frequently Asked Questions | Print |

Do you sell any properties for $1?

Will I have time to arrange financing if I want to make a purchase?

How often do you schedule your sales?

Do you have any houses for sale?

Do you donate properties to non-profit organizations?  Or is there a discount for non-profit organizations?

Can I give my property in exchange for one you have for sale?

Do you give tax incentives or tax breaks if I buy your property?

Do you pay closing costs?

Do you pay real estate commissions?

Can I make an offer on a property that is not currently for sale?

Can I do a lease purchase?

Can I view the properties online?

What are the required steps for purchasing a County owned property?

Are licensed nonprofits organizations given a preference when purchasing a property?

Do County employees receive a discount?

Will the county make repairs?

Why do you require the Buyer to be represented by a real estate broker?

 

 Q:

Do you sell any properties for $1?

A:

According to State law and the Real Property Disposition Policy of the Fulton County Board of Commissioners, the price of each property is based on its fair market value, which is determined by appraisal.  We would only sell a property for $1 if its appraisal came back at $1. 

 Q:

Will I have time to arrange financing if I want to make a purchase?

A:

All sales must provide cash to the Seller (the County) at closing. A Proof of Funds is required to be submitted with your bid.  We are looking for a letter from a financial institution or a bank statement showing funds sufficient to close.  A mortgage or loan commitment is not an acceptable Proof of Funds. 

 Q:

How often do you schedule your sales?

A:

Sales are scheduled once properties have been declared surplus by the Board of Commissioners.  There is no particular schedule.  A sale may occur once or twice a year.

 Q:

Do you have any houses for sale?

A:

Whereas we may have a house for sale from time to time, most of the real estate that the County owns is commercial or institutional or vacant land.  However, the inventory of available surplus properties for sale continues to change.  You are encouraged to check this web site regularly to see what new properties may be available.

 Q:

Do you donate properties to non-profit organizations?  Or is there a discount for non-profit organizations?

A:

No.  The County is prohibited from granting any donation or gratuity regardless of the worthiness of the purpose or the recipient.  Where the public receives no substantial benefit, the donation or free use of county-owned property violates this constitutional prohibition. 

According to State law and the Real Property Disposition Policy of the Fulton County Board of Commissioners, the price of each property is based on its fair market value, which is determined by a qualified appraisal.  Neither State Law nor County policy sets out an exception for non-profit buyers. 

 Q:

Can I give my property in exchange for one you have for sale?

A:

No. Neither State law nor the Real Property Disposition Policy of the Fulton County Board of Commissioners allow for the exchange of real property.

 Q:

Do you give tax incentives or tax breaks if I buy your property?

A:

The State law on the disposition of county-owned real estate does not address tax incentives or tax breaks.  The Real Property Disposition Policy of the Fulton County Board of Commissioners does not provide for either tax incentives or tax breaks. You are encouraged to consult your CPA or attorney for tax advice. 

 Q:

Do you pay closing costs?

A:

No.  All closing costs must be paid at the closing table by the Buyer.

 Q:

Do you pay real estate commissions?

A:

We may. Under the current Real Property Disposition Policy of Fulton County, approved by the Board of Commissioners on August 1, 2012, the Land Administrator is empowered to list a property with a Georgia state-licensed real estate brokerage and pay a commission at closing.  In addition, the County may pay a real estate commission to the Selling Broker (called the Buyer’s Agent).   Any decision regarding the payment of a commission will always be included in the Bid Package and marketing materials for each property offered for sale.     

Under certain circumstances, the County may choose to engage an auctioneer to offer surplus properties to the public and pay certain costs of sale that may include a commission. 

 Q:

How do you decide which properties are placed on the market for sale?

A:

There is a process prescribed by the County’s Real Property Disposition Policy.  It requires the Land Administrator to assess a property’s current use and any plans for its possible future use and to conduct other due diligence research related to the property.  In cases where the Land Administrator, supported by the County Manager, determines that it makes sense to dispose of the property, a recommendation is made to the Board of Commissioners to declare the property surplus.  Only if the recommendation is approved by the Board of Commissioners would the Land Division proceed to sell the property.  The property would then be offered to the general public via sealed bid or public auction, according State law and the County’s Real Property Disposition Policy.   

 Q:

Can I do a lease purchase?

      A:

No. Currently the Real Property Disposition Policy of the Fulton County Board of Commissioners does not provide for us to finance a sale using a lease purchase arrangement.

 Q:

Can I view the properties online?

A:

Yes and no.  We have made an effort to provide as much information as possible on this web site, including a photograph of each property (see Properties For Sale).  Still, you are encouraged to make a site visit to each property for yourself.  In advance of each sealed bid sale or auction, the Land Division will make arrangements for an “Open House” when a staff person will meet the public at the property and so that you can inspect it.  The date and time of the Open House will be provided in the Bid Package for each property offered for sale. 

 Q:

What are the required steps for purchasing a County owned property?

A:

So glad you asked!  Unlike the purchase and sale of real property in the private sector, governments are regulated by law and policy regarding the disposition of publicly-owned real property.  By law, in Fulton County, we are permitted to sell surplus real property by sealed bid or auction.  There is a specific set of rules that govern how the real estate is offered and how you must present your offer.  Detailed information is provided in the Bid Package for each property offered for sale.   

 Q:

Are nonprofit organizations given a preference when purchasing a property?

A:

No.   According to State law and the Real Property Disposition Policy of the Fulton County Board of Commissioners, the price of each property is based on its fair market value, which is determined by appraisal.  Neither State Law nor County policy set out an exception that would give non-profit buyers a preference of any kind. 

 Q:

Do County employees receive a discount?

A:

No. According to Georgia State law and the Real Property Disposition Policy of the Fulton County Board of Commissioners, there is no provision for selling property at a discount to employees of the County.

 Q:

Will the County make repairs?

A:

No. According to the Real Property Disposition Policy of the Fulton County Board of Commissioners, County-owned real property is sold “as-is”,  “where-is”, and “with all faults” and transferred by QUITCLAIM DEED only.  

 Q:

Why do you require the Buyer to be represented by a real estate broker?

A:

We have learned from experience that in the sale of surplus, distressed, and other government-owned real estate where Buyer and Seller alike are required to adhere to a unique set of rules, regulations and policies it is prudent that each party have professional representation in order that their interests may be protected.