Buying a House to Renovate

Buy a House to Renovate for as little as $4,000! The Cuyahoga Land Bank sells properties needing renovation to qualified owner-occupants and professional rehabilitation contractors. Homes that need very little renovation are offered exclusively to owner-occupant buyers for the first 30 days through our Owner Occupant Buyer Advantage Program. Currently, renovation loans are available to owner-occupants purchasing in the City of Euclid through our Advantage Plus Loan Program.

Learn more by watching the below video:

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

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.

Owner Occupant Buyer Advantage Program:

The Owner Occupant Buyer Advantage Program is an initiative developed by the Cuyahoga Land Bank to help owner occupant buyers successfully purchase homes to live in. Simply put, owner occupants will have a 30 day exclusive opportunity to purchase properties from the Cuyahoga Land Bank that need moderate work; to this end, a successful buyer is required only to abide by the Cuyahoga Land Bank basic Terms and Conditions and agree to reside at the property for at least three years.

Click here to learn more about the Owner Occupant Buyer Advantage Program.

Advantage Plus Loan Program: (City of Euclid Only)

The Advantage Plus Loan Program takes the Owner Occupant Buyer Advantage Program one step further by assisting with the expense of home repairs. This program offers low-interest, short term "loans" on houses selected for the Owner Occupant Buyer Advantage Program ONLY in the City of Euclid. Owner occupant buyers in the Advantage Plus Loan Program will receive up to $10,000 in renovation work that the buyer and the Cuyahoga Land Bank agree must be completed in order to meet the Land Bank's Housing Quality Standards and any municipal point-of-sale requirements.

Click here to learn more about the Advantage Plus Loan Program.

Buyers for both the Advantage Plus Loan Program and Owner Occupant Buyer Advantage Program must also go through the Deed-In-Escrow Program. Property will not transfer until renovation is complete and inspected.

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.