PRO NEWARK HOMEOWNERSHIP
Do you want to own AND occupy?
Do you have access to funds to purchase and repair?
Do you want to own AND occupy?
Do you have access to funds to purchase and repair?
Carefully read and understand the PRO Newark Homeownership policy. click here to view and download.
Register to create an NLB account
Complete the Property Purchase Application and Pay the $50 non-refundable application fee
Submit application
5. NLB will schedule a date for qualified applicants to inspect the property
Should you wish to proceed, complete and submit the Bid Package in accordance with the PRO Newark Homeownership Policy.
PRO Newark Homeownership sale may be right for you! PRO Newark Homeownership helps First-Time Home Buyers successfully purchase homes to rehabilitate, and live in. Eligible properties are sold to qualified applicants that can demonstrate a clear intent and ability to undertake the appropriate rehabilitation and reside in the property as their principal residence for seven (7) consecutive years after a Certificate of Occupancy or Certificate of Continued Occupancy is received by the buyer.
Properties purchased through the PRO Newark Homeownership Sale are subject to a deed restriction for a period of 20 years. click here forrestriction details.
Buyers are required to reside in the property as their principal residence for seven (7) consecutive years.
Buyers must show proof of ability to finance, at a minimum, the cost of acquisition & renovation (property bid amount plus the total cost of renovation plus 10% renovation reserve amount)
Applicants, at their sole expense, may hire licensed contractors to perform rehabilitation work on their behalf. NLB assumes no liability for contractors hired by the applicant.
Properties are sold to the most qualified bidder.