Division of Real Estate and Facilities Management
TRAX

HOW VIRGINIA SELLS SURPLUS REAL ESTATE

Surplus For Sale

When an agency determines that real estate it controls is not being fully utilized, BRES manages the transfer or disposition of the property in a fair and transparent manner. Guided by the Code of Virginia, BRES established the following process:

Once an agency notifies BRES that real estate under its control is no longer of use to the agency, BRES reviews the property records and contacts the Department of Treasury to determine if there are any outstanding bond obligations associated with the property. BRES also determines if there is need by another department, agency or institution for the real estate. BRES requests the written opinion of the Secretary of Natural Resources as to whether the property is a significant component of the Commonwealth's natural and historic resources, and if so how those resources should be protected in the transfer or sale of the property.  If no other department, agency or institution has a need for the property BRES offers and allows 30 days for the county and municipality where the property is located to purchase it at its fair market value for public use.

If there is no identified state or local government need for the property after these steps are taken then BRES will move forward with declaring the property surplus, as per §2.2-1156.  BRES provides the previously provided opinion of the Secretary of Natural Resources to the Governor and seeks written authorization to market the property for sale.

BRES may sell the property by public auction, sealed bids, or by marketing through one or more real estate brokers licensed by the Commonwealth. Properties are also widely marketed and listed on this website to provide all citizens of the Commonwealth and any other potential purchasers with an equal opportunity to acquire the property.