Land for Sale
It is the intent and goal of the Division of Natural Resources Development to offer for sale all patented, unretained, and general grant lands to the general public. However, the Fairbanks North Star Borough (FNSB) Assembly must authorize the sale of any Borough owned lands by ordinance. Once a parcel or group of parcels is approved for sale by the Assembly the land can then be offered by competitive public sale through a Sealed Bid Auction or Lottery.
The most common types of borough land sales are: Competitive Land Sale or Auction, Over the Counter (OTC), Direct Sales, and Tax Foreclosure.
How is the listing price determined?
All of our processes are determined by the Borough Code of Ordinances Title 20 and we must operate within that authority. Our prices are determined by market appraisal and must be approved by the Borough Assembly prior to a property being listed for sale.
Competitive Land Sales
The Borough does not currently have any active Competitive Land Sales or auctions. Stay tuned for new land sale offerings that are in process of approval.
Over-The-Counter Land Sales
Parcels that remain unsold through past Competitive Land Sales will be made available through future Over-the-Counter (OTC) Land Sales. These Parcels are offered on a first-come first-served basis for the minimum purchase price listed in the auction.
Direct Land Sale
The Direct Land Sale option is available to person who hold an existing interest in a parcel, such as someone who has been leasing, holds a mining claim, or who owns land with a common border to that parcel. Direct Sales may become competitive if more than one persons hold direct interest in the land.
Properties determined to be available by Tax foreclosure auction are posted in June of each year, and the Auctions held in August by the office of the Treasury & Budget. The link to the listings are here. All Tax Foreclosure proceedings are subject to Borough Code Title 8.
If a member of the public would like to nominate a parcel of borough land to be made available in a land sale, they can fill out a Nomination of Borough Land form and submit it to the Division of Natural Resources Development for consideration.
Direct Land Sale
The Fairbanks North Star Borough recognizes that those who hold an interest in Borough owned land, such as a lease, a mining claim or an access easement, may have an interest in purchasing that land.
The Borough also recognizes that those who hold an interest in land next to Borough owned land, be it full ownership or a lesser interest such as a lease or mining claim, may also have an interest in purchasing Borough land next door.
We now offer these individuals the opportunity YEAR ROUND to purchase directly - without the need to bid through public auction.
Here's how it works:
1. The Lease or mining claim must have been in possession of the intended buyer for a minimum of 4 years.
2. A Lease must have been in actual use pursuant to the terms of the lease for a minimum of 4 years.
3. The sale parcel may be no greater than 40 acres.
4. Sale price will be 10% above Fair Market Value, to be determined by independent appraisal.
5. Where multiple qualifying parties declare interest their in purchasing, a sealed bid auction between them will occur.
6. Buyer is responsible for the cost of appraisal, surveying and platting as needed.
7. Owner financing will be offered to qualified buyers. Terms may vary.