Our Policies & Procedures
Frequently Asked Questions
What is the mission of the organization?
What programs does WNCLB offer?
Throughout the City of Wilmington, the WNCLB owns neglected and blighted properties with the goal of selling these units to a buyer that will rehab the homes and bring them up to City code within 18 months.
There are 3 types of approved property uses all with a recorded 5-year Enforcement Agreement:
- Homestead/ $1 Sales Price: The applicant lives in the unit as their primary residence.
- Investor Rehab/ $2,000 Sales Price: Purchaser rehabs the unit and sells only for homeownership with no investor to investor sales.
- Investor Owner/ $2,000 Sales Price: Keep the property for use as an AFFORDABLE rental, adhering to the WNCLB rental requirements.
Do I need to be a resident of Wilmington, Delaware to apply?
How do I get an updated inventory list?
Please visit our website monthly for the current list. The Land Bank focuses in one area per month. Focusing on a select area makes a significant impact on neighborhood revitalization and increases the surrounding property values.
How often is the inventory updated?
The inventory is updated monthly on our website.
What are the steps in the process to get a property?
- Select an available property from the current inventory list.
- The Land Bank will hold 2 open houses a month for the current inventory. Please see the “Announcements” section on our home page for the available dates. You will also need to complete a waiver and forward to Natalie DiCostanza at email@example.com PRIOR to your visit.
- If you wish to move forward with purchasing the unit, you will need to have a licensed contractor complete the scope of work in the application for your program choice.
- Submit the completed application with the scope of work along with proof of funds on or before the submission date as noted on our homepage under the “Announcements” section. All application decisions are determined the first Wednesday of each month at our Board of Directors meeting. You will be notified via email as to your application’s status.
- PLEASE NOTE: The Land Bank offers bi-weekly zoom information sessions-every other Thursday starting at 6:00 p.m. The link will be updated and available under the “Announcements” section on our home page.
What is a scope of work?
The scope of work is completed by a licensed contractor. It must include all trades, material and labor needed to renovate the home and adhere to the City of Wilmington’s building codes. The scope of work is provided to you in an excel format under the “Programs” tab of our website. Within your total rehab cost, you will need to include the properties purchase price and a 15% contingency for your project.
Can I view the unit prior to purchase?
Yes. See our website monthly for the available open house dates/times under the “Announcements” section on our homepage.
What are the restrictions placed on the property?
Can I get more than one unit at a time?
When do I need to provide evidence of the proof of funds?
What are proof of funds?
You may show your proof of funds with the following: recent bank accounts, 401 K, open lines of credit, or hard money loans with a surety bond if needed. The name and address of the applicant on the application must match those of the proof of funds. For example, Mary Smith’s name and address on the application must match the name and address on the bank statements provided in the proof of funds.
What are the conditions of utilizing a hard money loan?
What constitutes a completed application?
Where do I begin with the permitting process?
You must contact the City of Wilmington, Delaware Department of Licenses and Inspections Department before you begin the work on the unit. The Licenses and Inspections employee will do a walk-through of the house with you and inform you of the next steps in the process. You will not be able to pull any permits until the “walk- through” is completed.
What happens to the Enforcement Agreement if I am rehabbing the home to sell for homeownership?
What to do if you buy a home in a “Historical District”
All permitting and renovation on the exterior will have to be approved by the Planning Department. Please visit the City of Wilmington, Delaware’s website to determine the Historic District boundaries, zoning and code information.
Do we sell vacant land?
If I lost my house at a tax sale and the land bank owns the home now can I buy it back for $2,000?
Ready to get started?
Find a program that works best for your situation.