Properties for sale by the federal government can be found on property disposal websites, through regional offices and mass media. GSA publishes current and upcoming public sales information on its FREE website: http://propertydisposal.gsa.gov. The website features a US map which allows users to search for properties by state and type. Additional federal properties can also be found at http://www.govsales.gov, the official site to buy US government property from various Federal agencies. If you do not have access to the internet, the regional GSA office responsible for available property in your state can provide additional information. GSA also publishes many of our sales through advertisements and announcements in local and national newspapers, trade publications. They are also run on radio and television.

The Office of Real Property Disposal is only responsible for Real Property Assets. However, GSA sells surplus personal property including automobiles through the Federal Acquisition Service Property Management Division. Information on government sales and auctions of personal property including auctions can be found at http://surplussales.gsa.gov and www.usa.gov

Properties differ widely in type and value and may include improved and unimproved land, office buildings, warehouses, commercial and industrial facilities, airfields, former Post Offices, farms and single- and multi-family residences.

Properties for sale may be in any of the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and the U.S. Pacific Territories.

Your next step is to obtain an Information for Bid package (IFB). GSA provides all the information necessary to bid on a particular property in the IFB package. You can obtain an IFB for a specific property from https://propertydisposal.gsa.gov or by calling or visiting the applicable GSA regional office.

Information commonly found in an IFB package includes: location of the property, property description, maps, pictures, zoning and land use regulations, environmental conditions, general terms of the sale, directions to the property, inspection guidelines. Other important information in the IFB includes official bid forms, instructions on the bid process (not all properties are sold in the same manner), and the contact information for the GSA Project Manager responsible for the sale. If you have specific questions not addressed in the IFB, contact the assigned GSA Project Manager.

Laws and regulations requires GSA to obtain the appraised Fair Market Value (FMV) for every property it sells. Generally, only high bidders are considered for award in GSA sales and each high bid is compared to appraised FMV. If the bid is at or higher than GSA’s appraised FMV, the property is normally awarded to that high bidder.

The appraised FMV is proprietary information and is never made available to the public. Neither the appraised value nor the appraisal reports are subject to the Freedom of Information Act (FOIA). Prospective buyers are encouraged to seek opinions of local real estate professionals when considering purchasing a property.

No, GSA is required to obtain appraised Fair Market Value for property sold to the general public. Sales are competitive and generally only the high bidders are given consideration for award of sale.

GSA has three commonly used methods for conducting public sales of surplus Federal real property (online auction, public auction, and sealed bid).

You can find properties available for online auction on GSA's website www.auctionrp.com and GovSales.gov. An online auction allows the bidder to conduct all bidding activities, including submitting the bid deposit and increasing bids, online. Bidders bid against each other on the website until a designated date. The highest bidder is declared once the auction officially closes.

Public auctions are conducted in a conventional “live outcry” auction setting with an auctioneer at a specific date and time. Bidders register, submit the bid deposit, and bid openly against each other until the high bidder is declared.

Bidders mail in bids and bid deposits to the specified GSA regional office prior to the designated bid opening date and time. All bids are publicly opened on the bid opening date. After the public opening, no bids may be modified. The highest bidder is declared shortly after the auction officially closes.

Usually there is no minimum bid on a property. However, if a minimum bid is required it will be stated in the IFB. Realizing that it is often difficult to know “where to start,” minimum bids are occasionally suggested for certain properties. Minimum bids do not generally correspond with appraised value, but are used to shorten the bidding process.

Yes. An initial bid deposit is required to bid on a property. After acceptance of an offer, an additional deposit (usually equaling 10% of the sale price) may be required. The additional deposit may also be a fixed dollar amount rather than a percentage of the sale price.

For those who are not the winning bidder, GSA will return deposits as soon as possible after the auction has ended. Bidders should refer to the IFB for specific terms and conditions.

Generally. If the highest bid is acceptable and represents the fair market value of the property, an award is usually made. However, GSA reserves the right to act in the Government’s best interest when reviewing all bids. Therefore, the highest bid may not always be accepted.

No. Bids to purchase must be on an ALL CASH basis. Government credit terms are not available and GSA does not offer financing. Buyers are expected to arrange their own financing and to pay the balance in full by the closing date. After the date of acceptance, there is generally a 30 to 60 day period in which to send the final payment to close the sale. This information is specified in the IFB for each sale.

Yes. After acceptance, GSA issues a Quitclaim Deed upon receipt of full and final payment for the purchase of the property.