Not only does City of Minneapolis sell real estate, they’re ramping up their efforts to reach out to buyers in the hopes they’ll snatch up some of the city’s North Side abandoned houses. Rather ironic when it’s taxpayer money that pays for the Neighborhood Stabilization Program.
Basically what this means is that we pay for the city to purchase abandoned homes and then we pay again to buy those homes from the city. It's like buying a home twice. If it weren’t a government entity doing this it’d probably be considered illegal.
Be that as it may, the program may be a boon to homebuyers in the city -- at least those that aren't afraid of major fixer-uppers. Here’s how it works:
- The city “acquires” (their word) vacant and blighted properties,