How to buy a land bank house or lot, some for under $5,000
Short answer
A land bank is a public body that holds vacant, abandoned and tax-foreclosed property and sells it back into use. You find your city or county land bank, pick a property from its published list, apply with your plan and proof of funds, and close after approval. Lots often cost under $5,000; houses can too (Baltimore sells vacant homes to owner-occupants for $1), but they come with rehab and occupancy rules, and the rehab is the real price.
- Find the land bank for your city or county and its list of available property.
- Visit the property (from outside if it is boarded), and check zoning, flood maps and what the repairs will cost.
- Apply with the land bank's form, your plan for the property and proof you can pay for the work.
- Wait for approval (some cities need a council vote), then close and meet the rehab or occupancy terms.
| Program | What is for sale | Price | The catch |
|---|---|---|---|
| Land Bank of Kansas City, MO | 1,401 parcels; 564 lots asking under $5,000 | lots from $40, houses from about $8,800 | application and review (about 30 days); houses carry rehab or occupancy commitments |
| Baltimore Buy Into BMore (Fixed Pricing) | 1,191 vacant buildings and lots | $1 homeowner, $3,000 developer | show about $90,000 for the rehab, $100 application fee, live there 5 years |
| Detroit Land Bank Authority | houses on buildingdetroit.org | list price on each listing | Own It Now sealed offers over 72 hours; as-is, must be brought to code |
| Chicago ChiBlockBuilder | 459 City lots in the current round | City land value; discounts for some uses | apply by the round deadline; City Council approval before closing |
Source: each program's own published list and rules, as collected by Deed Atlas on 8 Nov 2026
The costs that matter more than the price
Rehab is usually the biggest number: vacant houses often need roofs, plumbing, wiring and windows. Add closing costs, title insurance, property insurance on a vacant building, property tax from the day you own it, and utilities to reconnect. Get a contractor's estimate before you apply.
Who land banks sell to first
Many programs favour owner-occupants and neighbours (side lots next to your home), and they check that buyers have no unpaid taxes or code violations on other property. Investors can buy too, usually at a higher price with stricter terms.
Information only
Programs change their prices and rules; always confirm with the land bank before you rely on anything here. This is not legal or financial advice.
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from $14/monthDeed Atlas lists buy-now land bank and city property (Kansas City, Baltimore, Detroit, Chicago) with prices, the official contact and how to apply, plus every state's tax sale rules and dates. Free one state at a time; Pro $14/month for all states and CSV.
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Can I really buy a house for $1?
In Baltimore's Fixed Pricing Program a homeowner pays $1 for a vacant building in eligible market areas, but must show about $90,000 for the rehab and live there for 5 years. It is a rehab project, not a cheap house.
Is a land bank sale an auction?
Usually not: land banks sell at a set price or by application. Tax sales and sheriff sales are auctions, with different rules.
Do I need cash?
Land banks want proof of funds for the purchase and the repairs; some accept a renovation loan pre-approval.
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