Bulk Buyer Guidelines
The city will sell to bulk buyers at a reduced price of $5,000 if the property listed for sale is $25,000 or less.
- Must purchase a minimum of five properties
- Must have housing rehab experience
- After rehabilitation is complete the property must be held for five years if you are receiving City financing
- Landlord training is required if you are purchasing for rental purposes
The following are the steps you need to take to secure such a purchase:
- Choose five vacant properties on the Extended Listing or Broker Listed properties with an asking price equal to or less than $25,000 each.
- Complete City of Milwaukee - Offer to Purchase.
- Review the scope of work for the property. Essential repairs are indicated on the scope. Sign the scope addendum and include the scope and addendum with your offer to purchase.
- Provide evidence of financing for the rehabilitation of the property.
- Must be registered with Wisconsin Department of Financial Institutions and submit a printout. If you are a Limited Liability Company (LLC), please provide Articles of Organization. If you are a corporation, please provide Articles of Incorporation.
- Buyer must provide a $2,000 performance deposit PER PROPERTY at closing. Buyers are obligated to complete essential repairs within 180 days of closing. Deposit is refundable if buyer completes the Essential Repairs at the property, and obtains a DNA stamped Essential Repair Verification Form within 180 days of closing. Please see Offer to Purchase for additional details.
PLEASE NOTE: Historic Houses do not qualify for Bulk Buyer offers.