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.
Learn more by watching the below video:
You can find houses that the Cuyahoga Land Bank has available for rehabilitation below:
10813 Park Heights Ave
Renovation Work Required $7,500
12600 Benham Ave
Cleveland (Ward 04)
Renovation Work Required $15,000
4420 E 144th St
Cleveland (Ward 01)
Renovation Work Required $4,000
18708 Waterbury Ave
Renovation Work Required $9,000
10915 Pasadena Ave
Cleveland (Ward 09)
Renovation Work Required $4,000
21271 Crystal Ave
Renovation Work Required $30,000
19040 Mccracken Rd
Renovation Work Required $12,000
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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.
Property Transfer Policy
In order to buy a house to renovate from the Cuyahoga Land Bank, the purchaser must:
To be considered for the Deed-In-Escrow Program:
The Cuyahoga Land Bank reserves the right to change, modify or amend these procedures at any time.