PURCHASING PROPERTY FROM THE ALBANY COUNTY LAND BANK

Is a Land Bank Property Right for You?

Before applying, it's important to understand that most properties owned by the Albany County Land Bank are vacant, abandoned, and acquired through tax foreclosure. Many have sat empty for years — even decades — and require extensive rehabilitation to meet local building codes.

These properties are sold strictly “as is”, and we offer no guarantees or warranties about their condition. We share what info we have, but buyers must do their homework and come prepared. If you're looking for a move-in-ready home, this might not be the right fit — but if you're up for a project and ready to invest in a property (and a community), this could be your opportunity.

STEP 1: UNDERSTAND THE APPLICATION

Before anything else, read — and re-read — the Property Purchase Application. It includes:

  • What you need to submit for your application to be considered complete

  • Terms and conditions of property sales

  • Required attachments and fees

  • Info about property viewings and enforcement

👉 All applicants must schedule a property viewing before applying to purchase a building.

Need help with the application? We offer Application Assistance!
📞 Call us at (518) 407-0309 or click here to book an appointment online.

STEP 2: STAY UPDATED ON AVAILABLE PROPERTIES

We publish a new list of properties each month. Want to stay in the loop?

  • Sign up for our email list on our homepage

  • Check out the sale cycle listings posted on our website the 1st of the month

  • Application deadlines are the last Tuesday of each month by 2pm.

🕓 Important: Only complete applications received by the deadline will be reviewed.

STEP 3: APPLICATION REVIEW PROCESS

Once submitted, complete applications go through the following steps:

  1. Reviewed by the Acquisition & Disposition Committee - Click Here for Disposition Policy

    • This committee includes members of our Board of Directors

    • They evaluate offers and recommend them for approval

  2. Final Decision by the Board of Directors

    • Meets the third Tuesday of each month

    • Reviews recommendations and selects buyers based on:

      • Buyer qualifications, experience, and financial capacity

      • Offer price compared to asking price

      • Proposed use and quality of redevelopment

      • Community value or benefit

✨ The Board has full discretion and may select alternate buyers in case the original applicant doesn’t close.

STEP 4: DECISION & NEXT STEPS

All applicants will be notified of the Board’s decision by the Friday following the board meeting. If selected:

  • You’ll be contacted by a Land Bank attorney to start the closing process

  • If not selected, don’t worry — don’t give up on us just yet. Let’s find the right fit together. We’re here to help you try again with a different property

**IMPORTANT REMINDER

  • Each application is a $50 fee per applicant

  • Applications without the fee or required documents will not be reviewed