Qualified Buyer Policy

In the event that CCLT has no immediate housing units available, potential homeowners are added to a Qualified Buyer list. In order to be a Qualified Buyer, potential buyers must:

Attend a CCLT orientation
Fill out a CCLT housing application
Allow CCLT to obtain a current credit report
Attend a Homebuyer Education Workshop
Sign the Qualified Buyer Agreement

Potential buyers must first complete steps one through four above.
They are then eligible to sign the Qualified Buyer Agreement to secure their spot on the list. Potential buyers will be added to the list in the order they return their signed Agreement. In the event that potential buyers return their forms on the same day, priority is based on the datethey submitted a CCLT application.

When a housing opportunity becomes available, it will be presented to potential buyers on the Qualified Buyer in numerical order. The qualified buyer in the lowest position who is “ready, willing, and able” buyer, as defined herein, shall be given the opportunity to buy. Potential buyers have the right to accept or deny these opportunities without change to their Qualified Buyer status. A potential buyer will be removed from the Qualified Buyer only after their property transaction has closed. Potential buyers will be contacted periodically to confirm that they wish to maintain their Qualified Buyer status and to update their information. Potential buyers who have an application on file with CCLT will be contacted by mail, so it is very important that you notify CCLT staff of any changes in your contact information. If the mailed notification is undeliverable, you will be removed from the Qualified Buyer list.

Ready, Willing, and Able Buyers

CCLT recognizes that although potential buyers have completed the required steps listed above, they still may not be ready to buy. CCLT reserves the right to assess whether or not a candidate is ready, willing, and able to purchase a home prior to the award of funds and/or to assign contingencies to the award of funds. As used herein, “ready” means that the steps above have been satisfied; “willing” means the potential buyer is willing to close on the available property; and, “able” means that the potential buyer has the ability to close within 30 days on a CCLT-approved loan with no contingencies that cannot be satisfied within such 30 day period. Any so-qualifying potential buyer is a “ready, willing, and able buyer.”