In the sixth installment of our FAQ video series, we explore programs available for the purchase and renovation of a Cuyahoga Land Bank home. 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 Cuyahoga Land Bank will consider the offer. The buyer has approximately four months to complete the renovation after their offer has been accepted. Once the renovation is complete, the Cuyahoga 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.
Did You Know? Purchase and Renovation Programs at the Cuyahoga Land Bank
