What is city-owned property? From time to time, local cities and municipalities will sell properties and land – vacant lots, condemned buildings, abandoned homes, etc. – that it deems are no longer needed for public use. The city-owned homes and city-owned land will often be featured in a public government auction, depending on the appropriate state statutes. Buying city property has tremendous potential because you have the opportunity to turn a neglected eyesore into a real estate gem … at a fraction of the cost. Click on a nearby city and/or county below to begin searching for city-owned properties for sale in your area right now to see for yourself.