MyRaleigh

Real Estate Property For Sale

Last updated Dec. 08, 2017 - 10:03 am
Real Estate
Economic Development Sites for sale are found on Raleigh4U.com

Please Note:

  • All information stated herein is subject to change.
  • Acreage amounts are based on Wake County tax records and may not be accurate.
  • Bidders are encouraged to obtain a survey to verify site size.
  • Bidders should research the property fully prior to making a bid and should consider retaining an attorney for a title opinion.
  • Please verify zoning and land use restrictions with the Department of City Planning.

When a property has been bid on and the bid is subject to the upset bid process, a Public Notice is posted on the website as well as a local newspaper. The winning bidder will be responsible for all advertising costs incurred by the City of Raleigh during the upset bid process. The advertising costs will be added to the purchase price at closing on the property. This includes bids for non-buildable and buildable lots.

Public Notices

Sale of City Surplus real property – Advertisement for upset bid proposals. In accordance with N.C.G.S. 160A-269, the public will take notice that the City of Raleigh has received and proposes to accept the following offer of $76,000.00 from Palo Investment Properties, LLC to purchase the city-owned property identified as Wake County Tax Parcel REID 0030701, having a property address of 412 Montague Lane and containing approximately 0.07 acres. See Deed recorded in Deed Book 3056, Page 928, Wake County Registry for a more detailed legal description. The City will give a non-warranty deed. The winning bidder will be responsible for all advertising costs incurred by the City of Raleigh during the upset bid process. Any person may, within ten (10) days from the publication hereof, upset the bid by submitting a written offer on a City of Raleigh Offer to Purchase and Contract form, in a sealed envelope labeled “412 Montague Lane (REID 0030701)” to the City of Raleigh Planning Department, Real Estate Division, 10th floor in the One Exchange Plaza Building located at 219 Fayetteville Street, Raleigh, North Carolina, 27601, increasing the amount being considered by at least ten (10%) percent of the first one thousand ($1,000) dollars and five (5%) percent of the remainder, accompanied by a deposit equal to five (5%) of the new bid. Deposits must be submitted in the form of a certified check from a local bank or money order. Written offers with deposits are due by 5:00 PM on Monday, December 18th. The City of Raleigh reserves the right to accept or reject any or all bids. For additional information, please contact Sarah Beth Gentry with the City Planning Department at 919-996-4291 and/or TDD 919-996-3107.

121 Penny Street [Vacant Lot]

121 Penny Street

Property Research Resources

Prior to submitting a bid on real estate property available for sale by the City of Raleigh, it is important for the bidder to thoroughly research the property. The City of Raleigh makes no representations as to unforeseen encumbrances on the property or exact property boundaries. Properties are sold 'as is'. It is up to the bidder to investigate the property for all liens, judgments, taxes, assessments, or other encumbrances that would attach to the property [including any possible encumbrance(s) by the City of Raleigh].

The City recommends that you consider retaining an attorney to do the research and provide you with a title opinion. It is also the responsibility of the bidder to verify the property with regard to size, zoning, development potential, structural and mechanical, plumbing integrity, etc., to the extent the bidder is satisfied and understands what is being acquired. The City of Raleigh is not responsible for the accuracy of any information provided from these links. The following links are for informational purposes only, and are provided to assist in the research of a property.

The City recommends having a survey done to verify lot size.

  • Wake Real Estate Data
  • Wake County Tax Assessor - Provides tax value, lot size, zoning, etc.
  • Wake County Register of Deeds Books - Locates the deed to the property and determines possible liens or encumbrances that may attach to the property
  • City of Raleigh Assessments - Search for any assessments the City of Raleigh has placed against a property. These lists are provided for informational purposes only and are valid as of the date indicated on the lists. Updated lists are posted daily; however, recent changes to the Tax ID Number, Property Ownership, and Assessment Location Address may not be reflected. To confirm information, assessment status, and payment amounts, contact the City of Raleigh Revenue Services at 919-996-3200.
  • Zoning - Permitted uses for a particular zoning code. For questions regarding what can be built on a property (Zoning and land use restrictions), contact: Planning at 919-996-2682 - OR - Zoning Enforcement at 919-996-2475.
  • iMAPS - GIS maps of the property, including aerial views.
  • Flood Maps - This webpage provides information to determine if property is in a flood zone.

Civil liens and cases filed in the Clerk of Superior Court Office can be investigated on computer terminals currently located at the Wake County Register of Deeds Office or on the 11th and 12th floor of the Wake County Courthouse:

  • Civil Division (11th Floor of the Wake County Courthouse)
  • Special Proceedings (12th Floor of the Wake County Courthouse)
  • Estates Division (12th Floor of the Wake County Courthouse)

Bidding Instructions for Sale of City-Owned Real Estate Property

Making an initial offer For City-owned surplus real estate property for sale

Important Property Information

These instructions are intended for non-economic development properties.

Questions related to economic development properties should be directed to Real Estate Services Manager: Gregg Pollard at 919-996-4286.

The City of Raleigh makes no representations as to unforeseen encumbrances on the property or exact property boundaries. Properties are sold "as is". The bidder must investigate the property for all liens, judgments, taxes, assessments, or other encumbrances that would attach to the property - including any possible encumbrance by the City of Raleigh. The City of Raleigh recommends that you consider retaining an attorney to do the research and provide you with a title opinion. The bidder has the responsibility to verify the property with regard to size, zoning, development potential, structural and mechanical, plumbing integrity, etc., to the extent the bidder is satisfied and understands what is being acquired. The City of Raleigh Department of City Planning 919-996-2626 can assist with interpreting Raleigh development regulations, ordinances and codes.

Submitting an Initial Offer or an Upset Bid

  1. An initial offer or an upset bid for city-owned property must be submitted in writing on a City of Raleigh Offer to Purchase and Contract form and must include a 5% bid deposit. Please read the entire two-page form, which includes standard provision.
  2. The City of Raleigh conveyances are with a NON-Warranty deed only and may have development restrictions imposed. Read the offer form for any sales conditions.
  3. The written offer should be submitted with a five (5%) bid deposit in the form of a cashier's check or money order made payable to: City of Raleigh. Offers without deposits will not be accepted for consideration.
  4. Submit the offer form to the City Planning Department (Real Estate Division). Initial offers submitted are confidential and will be reviewed by staff prior to making a recommendation to City Council.
  5. You will be contacted as soon as possible from Real Estate Staff with a status of the offer submitted and if it will be presented for City Council review and approval.
  6. Currently one initial offer is selected by staff to be presented to the City Council. If the City Council accepts the the offer it is then subject to the upset bid method of disposition. Offer acceptance is not delivered to bidder until final Council action adopting a resolution authorizing the sale. Offers may be submitted by mailing the contract and good faith deposit to:
    City of Raleigh
    Real Estate Division
    Attn.: Sarah Beth Gentry
    PO Box 590
    Raleigh, NC 27602-0590
    - OR -
    Submit in person in the office:
    *Please be sure to leave your offer with Sarah Beth Gentry or another Real Estate Staff person on the 10th floor.
    City of Raleigh
    Real Estate Division
    One Exchange Plaza Building
    219 Fayetteville Street, Suite 1020 (10th Floor)
    Raleigh, NC 27601

Upset Bid Advertisement

The City of Raleigh will advertise the Council approved bid to the general public for a period of ten days (counting the day of advertisement) by way of a Public Notice Ad. The ad will run in a local newspaper (typically in the New & Observer in the legal ad section, but subject to change). The ad will indicate that the City will accept upset bids for a period of ten days beginning the day of advertisement and until the deadline date indicated in the advertisement. The highest qualified upset bid received by the deadline date and time specified will be considered as an upset bid for purposes of re-advertisement. That highest upset bid will then be advertised with a new upset bid period stated. This procedure of advertisement will be repeated until no upset bids are received. Upset bids received after the time (indicated in City office) and date due as stated in the public notice ad will not be accepted. Upset bids are to be submitted in writing on a City Offer form and will be considered sealed bids. They will be opened and read at the end of the upset bid period.

Minimum Upset Bid Calculation

Each upset bid received must raise the advertised bid ten percent (10%) of the first One Thousand dollars and five percent (5%) of the remainder (Re:NCGS 160A-269) An example of this calculation follows:

Advertised Bid = $100,000

To Calculate Increase

  • 10% of $1,000 = $100
  • 5% of $99,000 = $4,950
  • Increase = $5,050

Add Increase to Advertised Bid

  • $100,000 + $5,050 = $105,050

Minimum Upset Bid = Amount + $105,050

Upset bidder must bid a minimum of $105,050 of higher

Submitting an Upset Bid and 5% Bid Deposit

The upset bid must come in writing on a City of Raleigh Offer to Purchase and Contract form and include a five (5%) percent bid deposit in the form of a local bank cashier's check or a money order. Upset bids are considered sealed bids and will be opened after deadline time and date. Contact with bidders will be made within ten working days after bid deadline to inform bid results and to return bid deposits as necessary.

You may submit your offer by mailing the contract and good faith deposit to:

City of Raleigh
Real Estate Division
Attn.: Sarah Beth Gentry
PO Box 590
Raleigh, NC 27602-0590

-OR-

Submit in person in office:

*Please be sure to leave your offer with Sarah Beth Gentry or another Real Estate Staff person on the 10th floor. All upset bids have to be in a sealed envelope and clearly marked as noted in the bidding instructions.

City of Raleigh
Real Estate Division
One Exchange Plaza Building
219 Fayetteville Street, Suite 1020 (10th Floor)
Raleigh, NC 27601

Note

Please be sure your bid is placed in a sealed envelope noting on the outside of the envelope the property you are bidding on and that this is an "Upset Bid for Surplus Property" because these bids will not be opened until the time advertised.

The winning bidder will be responsible for all advertising costs incurred by the City of Raleigh during the upset bid process. The advertising costs will be added to the purchase price at closing on the property.

The City of Raleigh conveyances are by NON-WARRANTY DEED

The City Council may at any time reject any and all offers.

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