ORIENTATION CLASS
Every potential homebuyer for the COCLT program is required to attend the COCLT Orientation Class. If a homebuyer has a designated agent at this time, the agent is encouraged to attend the Orientation Class with the homebuyer.

HOMEBUYER QUESTIONNAIRE
After the orientation class, each homebuyer will receive a questionnaire by email. The questionnaire needs
to be completed and returned to the COCLT to indicate interest in the program and the development project
queues they wish to be placed in for future Homeownership Selection Drawings.

HOMEBUYER SELECTION DRAWING
A drawing for each development project queue will take place close to the time the construction phase starts on the first home(s) within the project. The drawing is for all the homes identified in the development project, giving ample time for homebuyers to complete the eligibility process. As information is developed for each project, updates to the COCLT.org website will be available. Each homebuyer in each queue will be notified of the time and date of each drawing.

COCLT AND THE BUYER'S AGENT
The COCLT staff works directly with the homebuyer from the time of the orientation class through the
Homebuyer Selection Process until the homebuyer is qualified for the program. The homebuyer is encouraged to be in charge of their eligibility process. The buyer’s agent’s responsibility is to attend the Land Lease Class if their client successfully completes the eligibility process and becomes qualified to purchase a home.

COCLT LISTING AGENT
Realtors with questions concerning the COCLT and specifics related to future homes that will be offered through the program should be directed to its listing agent, Janene Parham with Red One Realty.

LENDER PRE-APPROVAL
Lender pre-approval is an important step in the 5 Steps to Homeownership Eligibility. The homebuyer will be given information about COCLT lenders from Homes on the Hill (COCLT's designated partner to determine income eligibility) that offer a leasehold interest mortgage once they have completed the income determination process. The homebuyer selects the lender they wish to work with to obtain pre-approval for a leasehold interest mortgage.

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QUALIFIED HOMEBUYERS
Until a potential homebuyer becomes qualified to purchase a COCLT home by completing the 5 Steps to Homeownership Eligibility, COCLT staff works directly with the homebuyer. Identifying an agent is the final step of eligibility. Once qualified, the buyer will attend the COCLT Land Lease Class with their agent. A denial letter will be sent to homebuyers if they do not qualify for the program.

REAL ESTATE PURCHASE CONTRACT
Once the Land Lease Class is completed, the COCLT Listing Agent, will work with the homebuyer’s agent to prepare a Real Estate Purchase Contract between the buyer and the Central Ohio Community Land Trust.
 

The home selected by the qualified homebuyer will determine when the contract is executed between the parties. The COCLT enters into a Real Estate Purchase Contract when the individual home construction begins within the development project. If the construction has not started for the desired home identified by the qualified homebuyer, the COCLT will issue a letter of commitment in the interim period.