Buying a House to Renovate

Buy a House to Renovate for as little as $5,000! The Cuyahoga Land Bank sells properties needing renovation to qualified owner-occupants and professional rehabilitation contractors. All offers received for any property are subject to being held for review for up to 45 days, at the Cuyahoga Land Bank's discretion. Once an offer is accepted, all interested parties will be notified with the decision.

Learn more by watching the below video:



You can find houses that the Cuyahoga Land Bank has available for rehabilitation below:

641-14-124

Eligible for Renovation Grant
for Owner-Occupants

19430 Ormiston Ave
Euclid
Renovation Work Required
List Price: $65,000
673-06-007

Eligible for Renovation Grant
for Owner-Occupants

1730 Strathmore Ave
East Cleveland
Renovation Work Required
List Price: $25,000
644-23-027

325 E 232nd St
Euclid
Renovation Work Required
List Price: $60,000
783-06-023

Eligible for Renovation Grant
for Owner-Occupants

5557 Beechwood Ave
Maple Heights
Renovation Work Required
List Price: $45,000
711-04-005

4824 Anderson Rd
Lyndhurst
Renovation Work Required
List Price: $115,000
142-01-015

Eligible for Renovation Grant
for Owner-Occupants

4122 E 142nd St
Cleveland (Ward 01)
Renovation Work Required
List Price: $28,000
138-06-032

Eligible for Renovation Grant
for Owner-Occupants

13709 Edgewood Ave
Cleveland (Ward 02)
Renovation Work Required
List Price: $16,000
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Renovation Programs

Deed-In-Escrow Program:

Under this program, the purchaser agrees to renovate the home as required within the time period specified in the Sales Agreement. The timeline and budget work will be reviewed by Cuyahoga Land Bank staff and a collaborative effort will be made by both parties until an achievable and realistic plan is created. At the time of agreement, the title/deed to the home will be held in escrow until the renovations are complete and a Certificate of Occupancy obtained. All costs associated with labor, material, supplies, etc. are the sole financial responsibility of the purchaser. The purchaser must also pull all necessary permits, resolve Point of Sale violations, and execute whatever is necessary to complete renovations. Renovations are deemed complete when the applicable municipality issues an official Certificate of Occupancy to attest the house is safe. If renovations are not completed within the time frame, the title will be retained by the Cuyahoga Land Bank and the potential purchaser will lose the financial investment he/she has put into the renovation. Upon completion, the purchaser will pay to the escrow agent the contract purchase price, along with any other items listed in the purchase agreement, and closing fees. Cuyahoga Land Bank personnel will perform monthly inspections during renovation period to ensure progress is made and that renovations will be completed in a timely manner.

Under the Deed-In-Escrow Program a set of established Housing Quality Standards must be followed to renovate a Cuyahoga Land Bank house.

Improvement Plus Program - Renovation Grant for Owner-Occupants

The Deed-in-Escrow Improvement Program is an initiative developed by the Cuyahoga Land Bank to assist owner-occupant buyers in successfully renovating homes to live in. Grants are available exclusively to owner-occupant buyers, which is defined as a person who resides in the property as their principal residence for no less than three years. For certain eligible properties, the Cuyahoga Land Bank will make substantial improvements to the home by directly engaging certain pre-qualified contractor(s) selected by the Cuyahoga Land Bank to perform the relevant work. For each eligible property, the buyer will be able to see in advance which trades will be covered by the grant as reflected in the renovation specifications. Common items to be covered by the grant, include major trades like HVAC replacement, electrical re-wiring, plumbing, and/or exterior work such as roofing, siding or asphalt. The time that this work takes will NOT count against the 120-day time period for the owner to complete the other remaining renovations that must be completed by the buyer before title transfers. Cuyahoga Land Bank basic Terms and Conditions apply and may be subject to change. This program is funded by the Cuyahoga County Housing Program.


Property Transfer Policy

In order to buy a house to renovate from the Cuyahoga Land Bank, the purchaser must:

  1. Not own any real property that is in material violation of state and/or local codes or has a history of code violations
  2. Not own any real property that has a history of being a site for criminal activity during the purchaser’s ownership
  3. Not own any real property that is tax delinquent
  4. Not have lost any title or had any foreclosure filings against any properties within the past three years
  5. Use property consistent with current zoning requirements of the respective municipality
  6. Comply with all fair housing and market regulations
  7. Reside in Cuyahoga County or designate a local agent authorized to accept notice on behalf of the purchaser if non-Cuyahoga resident.

To be considered for the Deed-In-Escrow Program:

  1. Fill out the Property Purchaser Application. Be sure to attach all necessary documentation or you will not be considered.
  2. Review our Housing Quality Standards.
  3. A background check and verification will be completed on all information provided.
  4. Be patient! A member of our staff will contact you within 14 business days to discuss your application and the properties of interest.
  5. A viewing of the property can be scheduled for further rehabilitation assessment.
  6. Make your best offer!

The Cuyahoga Land Bank reserves the right to change, modify or amend these procedures at any time.


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