FAQ 6 – What programs are available for the purchase and renovation of a Cuyahoga Land Bank home?

http://cuyahogalandbank.org
The Cuyahoga Land Bank has several programs for the purchase and renovation of properties in its inventory. The most popular program is the Deed-in-Escrow Program. An interested buyer is provided with a renovation specification. If a buyer can demonstrate the financial capability to acquire and renovate the property, then the Land Bank will consider the offer.  The buyer has approximately four months to complete a rehab after their offer has been accepted.  Once the renovation is complete, the Land Bank inspects it.  A property that passes inspection has its deed transferred to the buyer.  Sometimes the Cuyahoga Land Bank will renovate a property in house and place it on the market.  In an effort to increase home ownership, the Cuyahoga Land Bank created the Owner Occupant Buyer Advantage program that sets aside properties with $15,000 or less in estimated repairs for owner occupant buyers for 30 days.

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