For three hours on Saturday morning from 9 a. m. until noon, land lots in Newark, NJ that usually sell for $20,000 will sell for $1,000. The offer will only be available to couples (straight or LGBT) so developers and investors are not eligible.
From the city of Newark’s website:
A special land sale that Economic and Housing Development has organized for St. Valentine’s Day – Saturday, 14 February 2015, 9:00AM – 12:00PM at Newark City Hall (920 Broad Street). In the spirit of St. Valentine’s Day, we are doing a sale of city lots exclusively to COUPLES. Transforming non-tax producing city owned lots to occupied, tax producing properties with new homes built on them. We will be selling 100 lots at $1,000 a lot. This sale is NOT for developers or investors. The sale is exclusively for couples who are looking to live in Newark.
The rules are as follows:
You must be a couple (straight or LGBT)
Only one lot per couple
Lots will be awarded on a “first come, first served” basis
Lots will be sold for $1,000 each
All final sales are subject to Municipal Council approval
Buyers will be required to make a $500 down payment
Buyers will be required to pay an additional $500 at closing
Buyer is responsible for all closing costs
Buyer must submit a City Planning Board approved site plan to close on the property
Buyer must have a commitment letter from a financial institution AND/OR proof of cash to cover the cost of the infill new construction to close on the property
Construction must be completed within 18 months of closing
Buyer must reside in the property for 5 years after issuance of C.O.
Anyone from anywhere is eligible to participate except employees of the EHD Property Management Division
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