Fixed Pricing Program

Fixed Pricing Program

The BuyIntoBmore Fixed Pricing Program is a sales program for specific City-owned vacant buildings and lots!  The program is being implemented in the following phases:

Phase One (April 1 - July 1) - Prioritized for Baltimore City residents committing to restoring and living in the home as a primary residence.
Phase Two (beginning April 15) - Identifies properties not yet owned by the City where applicants have a legacy or familial interest. 
Phase Three (beginning July 1) - Includes future homeowners, community land trusts, non-profit and for-profit developers.

PHASE ONE - Fixed Pricing Priority Application Period: Future Homeowners This is For You!!!

Attention Baltimore residents! We're excited to announce a homeowner priority application period for current city residents beginning April 1, 2024, who intend to purchase a property for their primary residence!  

Duration: 90 Days

Priority Review: Applications for properties that will be used as a primary residence are prioritized during this period.

Purchase Information: Properties purchased for use as a primary residence will sell for $1!! Applicants must provide proof of available funding of no less than $90,000 to complete the renovations and are subject to the application vetting process.

Applicants are required to pay a $100 application fee. If the application is approved and moves to settlement, the application fee will be applied as a credit to the settlement statement. If the application is rejected, the application fee will be refunded. 

Applicants may inquire with Live Baltimore and DHCD Office of Homeownership for any available incentive programs they may qualify for.

Rehabilitation Budget Information:  All applicants must have an AVAILABLE budget of $90,000 for property rehabilitation per property applied for. Most of the City's inventory will require significant rehabilitation to bring the property to code. Estimates range between $125 - $150 per square foot to complete a rehab, and, as such, most rehabs may require more than $90,000. However, DHCD determined that $90,000 is the minimum amount of assets or financing a purchaser would need to have to prove that they could afford to complete the scope of work. Therefore, to keep the vetting process clear, consistent, and equitable, $90,000 per property is applied across the board.

What to Expect:  DHCD will accept applications on a rolling basis and award or rejection decisions rendered within two weeks of receipt of an application. 

Properties will be awarded once an applicant successfully passes the vetting process. If there are multiple applications for the same property and all applicants successfully pass the vetting process, applications will be reviewed by order of submission. 

If an applicant is unable to pass the vetting process, they will be given five business days to remedy the issue. If unable to remedy the issue, the next eligible applicant will be reviewed for award.


PHASE TWO - Charm City Roots

Focuses on the emotional connection and sense of belonging that comes with owning a home with familial or legacy ties in Baltimore.

Through our Charm City Roots portal, individuals with a familial or legacy connection to a  vacant property that is not City-owned will be able to express their interest in purchasing that home as their primary residence.  Once received, DHCD will determine if the property is eligible for acquisition and, if so, work with the individual to prepare them for homeownerhip while the property is acquired.


PHASE THREE - Fixed Pricing Developer, Non Profit and Community Land Trust Submissions

All applications received PRIOR to March 20, 2024, will resume processing April 1, 2024. 

All submissions received AFTER March 20, 2024, and not belonging in Phase One, will be reviewed beginning July 1, 2024, and are subject to standard program guidelines.  Additionally, any property applied for by developers between April 1 - July 1, 2024, does not reserve the property or prevent the property from being awarded to a homeowner during the Phase One priority award period.


What Can You Expect From the Fixed Pricing Program?

Streamlined Disposition Process! - Say goodbye to long waits. Our new process is about efficiency, ensuring that your application moves swiftly through each stage with clarity and ease.

Clearly Defined Pricing Structure! - No more guessing games. Our transparent pricing structure lets you know exactly what to expect at every step, empowering you to make informed decisions confidently. 

Consistent and Equitable Processing! - Fairness is our priority. Every application is treated with the same care and attention, ensuring a level playing field for all applicants.

Reduced Timelines! - Time is precious. That's why we've aimed to cut our processing times in half, from over 180 days down to just 90 days!


What Properties Qualify? How Much Will Properties Be Sold For?

This program will apply to properties that fall within the E-J Housing Market Typology 

Purchaser Type

Property Type

Price

Criteria

For-Profit Developers

501 (c)(3) Nonprofits  (51 or more employees)

Vacant Building

$3,000

  • Must be developed for residential or mixed-use includes residential with a use and occupancy permit obtained within 12 months from the date of settlement.

501 (c)(3) Nonprofits  (50 or less employees)

Vacant Building

$1000

  • Must be developed for residential or mixed use that includes residential  with a use and occupancy permit obtained within 12 months from the date of settlement.

Community Land Trusts

Vacant Building

$1

  • Must be a registered Affordable Housing Land Trust registered with the Maryland State Department of Assessments and Taxation and in compliance with the states affordable housing land trust laws found in Section 14 of the annotated code of the Maryland Real Property article 

Homeowner

Vacant Building

$1

  • Must maintain as primary residence for a minimum of 5 years after issuance of use and occupancy permit,  which should be obtained within 12 months from date of settlement

For-Profit Developers

501 (c)(3) Nonprofits  (51 or more employees)

Vacant Lot

$1,000

  • Must be developed for residential, mixed use that includes residential or green space  with a use and occupancy permit obtained (when applicable) within 12 months from the date of settlement.

 

501 (c)(3) Nonprofits (50 or less employees)

Vacant Lot

$500

  • Must be developed for residential, mixed use that includes residential or green space  with a use and occupancy permit obtained (when applicable) within 12 months from the date of settlement.

 

Community Land Trusts

Vacant Lot

$1

  • Must be a registered Affordable Housing Land Trust registered with the Maryland State Department of Assessments and Taxation and in compliance with the states affordable housing land trust laws found in Section 14 of the annotated code of the Maryland Real Property article 

Homeowner

Vacant Lot

$1

  • New construction for residential use (Must maintain as primary residence for a minimum of 5 years after issuance of use and occupancy permit, which should be obtained within 12 months from date of settlement), or
  • Side yard for adjacent primary residence

How Are Applicants Vetted?

Our vetting process includes the following criteria:

Rehabilitation Budget: Applicants must have a budget of $90,000 available for property rehabilitation per property applied for. This ensures sufficient resources are allocated for improvements.

Vacant Building Inventory: We assess whether applicants own vacant building inventory older than two years or less than two years without a recent open/active permit. This helps us gauge their experience and readiness for rehabilitation projects.

Criminal History: We evaluate whether applicants have open or pending criminal cases that might impede their ability to complete the project. 

Lien and Judgment Checks: We confirm that applicants do not have any open federal or state liens or judgments. This helps mitigate financial risks and ensures participants are in good standing with regulatory authorities.

Learn more by reviewing our Fixed Pricing Fact Sheet and  Frequently Asked Questions

 

                                                                               Apply Now!


 

For more information, please contact 410-396-4111 and/or developmentinfo@baltimorecity.gov.

 

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