ACQUISITION OF REAL PROPERTY

Heritage Circle Realty has assisted government entities with the acquisition and deposition of real property that has been dilapidated, abandoned, foreclosed and tax delinquent. This assistance is instrumental in returning the properties back to a productive status to be used for affordable housing, public spaces, economic opportunities, and to promote vibrant communities.

Acquisition Analysis

In determining the nature and extent of such properties to be acquired on behalf of the client, Heritage Circle Realty shall give consideration to criteria including, but not limited to, the underlying values of the subject properties, the geographical location of the properties, the financial resources available for acquisitions, the potential length and cost of holding and maintaining the properties.

Strategies for Property Uses

Affordable Housing
Affordable Housing, including the preservation, production, or rehabilitation of housing for persons with low or moderate incomes; and, the preservation of long-term land affordability through community land trusts or similar not-for-profit or public entities.

Neighborhood Revitalization
Neighborhood Revitalization, including the return of vacant, abandoned, dilapidated, tax delinquent, or foreclosed properties to productive status and land assemblage for economic development.

Economic Development
Economic Development, including use and development of property that promotes mixed market economic development.

Conservation
Conservation, including the preservation and re-use of land for environmental conservation, community gardens, and other greening purposes, and in order to mitigate the potential effects of climate change.

DISPOSITION OF REAL PROPERTY

Title Assurance

In all acquisitions of property Heritage Circle Realty generally requires a certificate of title based upon a full title examination.

Fair Market Value

In each and every transfer of real property, Heritage Circle Realty shall require good and valuable consideration in an amount not more than the fair market value of the property or the Property Costs. “Property Costs” shall mean the aggregate costs and expenses attributable to the specific property in question, including costs of acquisition, maintenance, repair, demolition, marketing of the property, and indirect costs of the operations of the property.