City Owned Residential Property

Schenectady’s Procedure for the Sale of City-Owned Property


Buying a house can sometimes seem confusing.  Below is a brief explanation of how the home buying process works through the City and/or SURA*

All available structures that are owned by the City and/or SURA must listed on the Multiple Listing Service (MLS - www.mls.com) for a minimum of ten (10) calendar days prior to any offers being accepted.

After the ten (10) calendar days, offers are then accepted from the listing agent or any NYS Licensed Real Estate Agent and presented to the Property Management Committee.

The accepted offer approved by the Property Management Committee, will then be submitted to the Claims Committee for approval. No offers can be made or accepted after the contract is presented to the Council Committee Meeting for consideration.  

If approval is obtained from the Claims Committee,  the offer is then submitted to the City Council for approval. Once an offer is approved by City Council and all resolutions must then be executed and approved prior to scheduling a closing.  

After the competition of the above process is completed, the purchasers Counsel may contact the Office of Corporation Counsel to schedule a closing.

AFTER THE CLOSING:

The City’s Owner Occupancy Program Requires:


1. The listing agent to return any City owned locks and lock keys for that particular listed structure, or a       charge may be incurred to the agent.

2. Requires purchasers pull all permits within thirty (30) days or the City will recapture the property. The City will do periodic checks on the property.

3. Requires the structure be brought up to Code within one (1) year. The City will do periodic checks on the property. 

4. The City’s Owner Occupancy Program requires owner occupant buyers to occupy the property for five (5) years after purchase or the City will recapture the property. The City will do periodic checks on the property. 

If you are unable to meet the above provided time frames, you must submit in writing (prior to any deadlines) to the Corporation Counsel a written request for any extension and the reasoning why the extension is being requested.

INVESTORS

Approved investors will have thirty (30) days to pull all permits and six (6 months) to bring the parcel up to up to code. The City will do periodic checks on the property. 
If investors are unable to meet the above provided time frames, investors must submit in writing (prior to any deadlines) to the Corporation Counsel a written request for any extension and the reasoning why the extension is being requested.


* These are general guidelines which will be followed, however the City acknowledges that there are unique facts and circumstances to each sale and sometimes it may be necessary to deviate from these procedures. No sales are final until after Council approval and the City reserves the right to deviate from these guidelines on a case by case basis at its sole discretion with Council consent.

List of City-Owned Property for Sale

CONTACT THE LISTING AGENT OR ANY NYS LISCENSED REALESTATE AGENT.

Property structures owned by the City and/or SURA but not yet on this list, are NOT available for sale, please check back monthly for availability.


MAKE AN OFFER ON STRUCTURES:

Offers through a real estate agent should be made on standard MLS documents. All potential purchasers must demonstrate financial ability to purchase the property and bring it up to code before any offer is presented as described above.

 To demonstrate financial ability to purchase, the potential purchasers must present documentation sufficient to satisfy the City. The following are examples of documentation which may be requested:   

ü prior year tax returns  

ü Two most recent savings and checking account statements 

ü two most recent paystubs    

ü any other additional income verification information

In addition to financial ability, all prospective buyers will be cross referenced with the City of Schenectady’s Bureau of Code Enforcement and Bureau of Receipts to determine whether or not the prospective buyer is up to date on their taxes and/or has outstanding code violations. In addition, the City of Schenectady will check the purchaser for outstanding liens, judgments, bankruptcies and other pertinent information.   

 Proposals are considered for value of the offer, financial ability, history of the owner relating to taxes and code issues. The City Property Management Committee considers offers and then forwards a recommendation to the City Council.  The City Council then considers whether to authorize the Mayor to enter into the agreement. 

The City’s Owner Occupancy Program 

Requires purchasers pull all permits within thirty (30) days or the City will recapture the property.

Requires the structure be brought up to Code within one (1) year. The City will do periodic checks on the property. 

The City’s Owner Occupancy Program requires owner occupant buyers to occupy the property for five (5)years after purchase or the City will recapture the property. The City will do periodic checks on the property. 

If you are unable to meet the above provided time frames, you must submit in writing (prior to the deadlines) to the Corporation Counsel a written request for any extension and the reasoning why the extension is being requested.

APPROVED INVESTORS: 

Approved investors will have thirty (30) days to pull all permits and six (6 months) to bring the parcel up to up to code. The City will do periodic checks on the property. 

* These are general guidelines which will be followed, however the City acknowledges that there are unique facts and circumstances to each sale and sometimes it may be necessary to deviate from these procedures. No sales are final until after Council approval and the City reserves the right to deviate from these guidelines on a case by case basis at its sole discretion with Council consent.*


MAKE AN OFFER ON VACANT LAND

OFFER FORMS BELOW ARE FOR VACANT LAND ONLY

Income Qualification and Purchase Form

Offers on vacant land can be submitted with the "Income Qualification and Purchase Form" link on this page. All potential purchasers must demonstrate financial ability to purchase the property and bring it up to code before any offer is presented as described above.

To demonstrate financial ability to purchase, the potential purchasers must present documentation sufficient to satisfy the City. The following are examples of documentation which may be requested:   

ü  A prior year tax return  

ü Two most recent savings and checking account statements 

ü Two most recent paystubs    

ü Any other additional income verification information

In addition to financial ability, all prospective buyers will be cross referenced with the City of Schenectady’s Bureau of Code Enforcement and Bureau of Receipts to determine whether or not the prospective buyer is up to date on their taxes and/or has outstanding code violations. In addition, the City of Schenectady will check the purchaser for outstanding liens, judgments, bankruptcies and other pertinent information.   

 * These are general guidelines which will be followed, however the City acknowledges that there are unique facts and circumstances to each sale and sometimes it may be necessary to deviate from these procedures. No sales are final until after Council approval and the City reserves the right to deviate from these guidelines on a case by case basis at its sole discretion with Council consent.*