Purchasing City-owned properties
I've been searching around for my first deal in the area and happened across a city owned property. I found it while I was researching an off market property that is right next door to it. It's in a neighborhood that is up and coming and there are already renovated properties as well as new construction within a few blocks. I'm considering purchasing the off market property as well as the city owned property next door.
Does anyone have experience purchasing city-owned properties? How long is the process? How do they determine pricing? I've already looked over the application and it seems they favor buyers who have lived in Pittsburgh, which is good because I lived in the city for the past 3 years until just a few months ago. I would fully expect this property to be a gut rehab but this could be doable within budget if the city price is low enough.