Surplus property from the federal government is up for sale. Maybe you'd like to buy a parcel of unimproved land in Waimanalo, Hawaii, or a house in Providence, R.I.
What about a residential subdivision in Broken Arrow, Okla., or 43 properties in Miami including single family residences, residential lots and commercial land?The January-March issue of the "U.S. Real Property Sales List" (item 525Y, free) from the U.S. General Services Administration offers a variety of real estate that is available for purchase from the government.
The booklet lets you know what is available and how to go about purchasing it.
Government surplus property is generally sold competitively by sealed bid or public auction. Prospective buyers will receive an invitation-for-bid package containing the terms and conditions of sale, description of property and complete instructions for submitting a bid. The successful bidder is notified and an award is made, usually within 60 days.
For a copy of the booklet, send your name and address to the Consumer Information Center, Department 525Y, Pueblo, CO 81009.
The property is sold on an "as is" and "where is" basis, so it's important that you inspect it before you submit a bid.
Property is sold on a fair market basis.
Once you have been selected as the buyer, it is yours and you can't back out of the deal because the condition of the property was different than you thought.