How can I qualify to bid at an OHAAT auction?
In order to bid on a property at a OHAAT receivership auction, you must have sent in an application with all supporting documents at least 5 business days in advance of the date of the auction.
The application is available for download. Click on the red “Apply Now”button in the upper left part of this page.
To be approved, you must:
1 Demonstrate the financial ability to purchase and pay for the rehabilitation necessary for the property. Proof of financial ability may take different forms, including bank statements with any personal information removed, a letter from a lender showing an approved line of credit, or 80% of the value of an IRA or other retirement account if the applicant is a person rather than a business.
2 Demonstrate the ability to manage the purchase and rehabilitation. Previous experience is usually required, experience with buying and rehabbing properties in Baltimore City is preferred.
3 Provide proof of a clean record of all other properties owned by the applicant regarding violations of housing codes or building codes in Baltimore City.
Once you are approved, you may bid at any upcoming OHAAT receivership auction without having to re-apply unless your standing in the three qualifications mentioned above changed from when you were approved.