Curious about how to purchase our properties? We’ll help you every step of the way!
Find a Property
We publish new properties to our website once a month, on the day after our Board Meetings (Board Meetings are held on the second Wednesday of each month). You can find all properties currently for sale by clicking here. Curious about our property types? Check out our Learn page for more details!
We list all of our open houses on our Facebook events page and would love you to join us at an open house! If you are working with a licensed realtor or contractor, you can have them contact our office to schedule a viewing at your convenience. We offer real estate agents a 2.4% commission when you purchase a property. Many of our properties may not have utilities turned on, so please dress appropriately and you may want to bring flashlights.
Apply to Purchase
Properties are listed for at least 30 days before applications are due; you can find the application due date at the end of each property listing. You can apply directly from the property listing page on our website; if you need an accommodation such as a printed application, please contact our office and we’ll be happy to help you out!
Applications are usually due on the last Monday of each month (except in the case of holidays, etc.); if a property does not sell after the first round of applications, the due date will be extended to the following month.
Complete applications will include a stated end-use for the property (what you plan to do with the property), a job-cost estimate from a licensed contractor for the redevelopment of the property, and a proof of funds available for both the purchase price and the redevelopment cost (this could be a bank statement or a letter from a lender, for example). There is also a $25 application fee and a $750 down payment due with the applications. Properties are sold as-is and applications are accepted for the listed purchase price only.
If we have only one complete application by the due date, that application will move forward to our Board for approval. If there are multiple complete applications, we will hold an auction in our office for all applicants with complete applications. The application with the highest bid from the auction will then move forward to our Board for approval.
The OMLB Board of Directors accepts or rejects offers to purchase at Board Meetings held on the second Wednesday of each month at 9 am in the Jesse Lowe Conference Room, 3rd Floor, Civic Center, 1819 Farnam Street. Board Meetings are open to the public and you are welcome to attend!
All Land Bank properties are sold with a specified redevelopment timeline; everything listed in your job-cost estimate must be complete within that timeline. Currently, purchasers have 9 months for the renovation of a single family residential property and two years for other types of property; the redevelopment timeline will be specified in your application and purchase agreement. We will regularly check in on redevelopment progress after closing and sign off as soon as the redevelopment is complete. If redevelopment does not happen within the specified timeline, the property reverts back to Land Bank ownership, as-is. If you believe you may need an extension, please contact us as soon as possible.
Our Title Company
The Omaha Land Bank uses TitleCore National as our title company. If you are purchasing a property from us, your $750 down payment would need to be in certified funds (cashiers check or money order) made out to TitleCore National. You would also be contacted by TitleCore to set up closing on a property.
We are more than happy to answer your questions any time throughout the application process! Our purchasing process sheet is linked below for your reference.
Need financing or a contractor? Find resources for buyers on our Resources page!
Contact us with any additional questions you have!