Strategic Buyout Program

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Strategic Buyout Program applicants who need assistance should call 833-ASK-RBNC.

ReBuild NC’s Strategic Buyout Program offers eligible property owners located in flood-prone areas the chance to sell their home and relocate to a safer area. The Strategic Buyout Program has worked with local governments to identify areas with the greatest risk of damage from future hurricanes and floods. These areas are known as disaster risk reduction areas or buyout zones. You must own property in one of these areas to be eligible for the Strategic Buyout Program. Applicants to the program will be contacted by ReBuild NC to confirm that they are located in a buyout zone. Properties purchased by the Strategic Buyout Program will be demolished, cleared, and permanently maintained as green space by the local government.

If you choose to participate in the Strategic Buyout Program, you may be eligible to receive a buyout award based on the current appraised market value of your property. Additionally, primary resident property owners may qualify for an incentive package designed to help you and your family affordably move to a less risky area.

Buyout Zones

Properties must be located within a buyout zone. NCORR and local government partners identify buyout zones within counties determined to be “Most Impacted and Distressed” (MID). HUD and the state determine these MID counties. NCORR is identifying buyout zones in HUD-determined MID counties as a priority before moving to state MID counties. Click on a county to view the buyout zones.

Eligibility

The applicant and/or co-applicant: 

  • Must be able to prove their identity by providing the program with current and valid government photo identification, such as a driver’s license
  • Must be or one of the current legal owner(s) of the property
  • Must be able to have clean, insurable, and merchantable title (or a viable method including timeframe for clearing nuisance liens) and have authority to sell (if applicable) 
  • Must be able to retire all property debts at or before closing
  • Must provide proof that at least one household member (applicant, co-applicant, or their minor child/ward) is a US citizen, non-citizen national, or qualified alien

The property: 

  • Must be in a designated buyout zone
  • Must be on land you own (if applying for a manufactured home)
  • Must meet federal environmental review requirements
  • Be an eligible property type. The program will launch in two phases, first in Phase I and if there is sufficient funding, it will launch in Phase II.
    • Phase I – Residential properties owned at the time of the storm, such as owner-occupied homes, rental properties and second homes
    • Phase II – Non-residential, vacant lots, and properties purchased after the storm
    • For additional details on eligible property types, see Step 2: Preliminary Eligibility Review 

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