Ready to Renovate

Interested in putting the finishing touches on a construction project?

Why Buy a Partially Rehabbed Property?

The Rehabbed & Ready to Renovate pilot is designed to give buyers flexibility. In RRR properties, the Property Rehab team has managed some of the most expensive and challenging components of the work, leaving the final stages to the new owner. The means new owners have flexibility in the customization of their homes — working within their own budget.

The scope of every Rehabbed & Ready to Renovate home is slightly different — buyers should be prepared to complete rehab work before they can move into their new home and may need to factor in the anticipated cost of rehab into their financing decisions.

Financing These Purchases

Purchasers are not required to use a specific loan product to purchase RRR properties; the Rehabbed & Ready team accepts conventional, FHA, VA loans and cash offers.

In Detroit, the following financial institutions have financed projects similar to RRR purchases. Purchasers are not required to use these loan products, but these resources can be a good place to start.

Click on the logos below for more information.


Defining "Partial Rehab"

Every RRR house is different, but all RRR properties need work before the properties are comfortably move-in ready. Use the chart below to get a sense of what the Rehabbed & Ready team generally completes in a partial rehab.

Generally, the following items are completed by the DLBA Property Rehab team:

  • New/repaired siding
  • New/repaired windows
  • New/repaired roof
  • New/repaired sewer line
  • Full environmental abatement (lead and asbestos)
  • Foundation assessment and repairs
  • New/repaired brickwork
  • New/repaired flatwork
  • Interior carpentry completed—selective demo and new framing
  • Drywall hung, mudded, taped

Generally, the following items need to be completed by the purchaser:

  • Interior doors
  • Baseboards and crown molding
  • Light fixtures and ceiling fans
  • Mailboxes
  • Interior wall’s primer and paint
  • Floor finishings (hardwood stain, tiling, vinyl flooring, etc.)
  • Kitchen sink / Cabinets / Bathroom Vanities
  • Bathroom sink
  • Toilet / Shower/tub
  • Appliances

*Some Amenities do not apply to Rehabbed and Ready to Renovate Properties*

Frequently Asked Questions

Purchasers buying partially rehabbed properties through the Rehabbed & Ready program may not have delinquent property taxes in Wayne County, may not have lost any property other than their primary residence due to unpaid property taxes in Wanye County in the past three years, may not have any outstanding blight or code violations with the City of Detroit, may not be currently in bankruptcy proceedings, and must be compliant in any ongoing Nuisance Abatement proceedings.

After obtaining pre-approval of a lender, a potential purchaser will hire a buyer’s agent to work on their behalf. The buyer’s agent will submit an offer through the Multiple Listing Service (MLS). The Rehabbed & Ready team will respond to the buyer’s agent in acknowledgement of receipt within 1-2 business days. If the offer meets the standards of the Rehabbed & Ready program, the team will set an offer deadline.

When the offer deadline expires, all buyer’s agents who submitted offers will receive notification of whether their offer was accepted. If selected, the Rehabbed & Ready team will either accept the submitted offer or send a counteroffer to the buyer’s agent. Once both parties have agreed upon the terms of the Purchase Agreement, the Purchase Agreement will be executed by the Detroit Land Bank Authority. This process takes approximately 45 days.

Once the purchase agreement is executed, the buyer’s agent may schedule a buyer’s inspection with the Rehabbed & Ready team and submit an inspection addendum. If an inspection addendum is submitted by the agent, the Rehabbed & Ready team will review and work with the buyer’s agent to develop mutually agreeable terms.

Typically, once the inspection addendum is agreed upon, the lender will order its appraisal. The appraiser will schedule an appointment with the Rehabbed & Ready team. The lender will provide consistent updates to the Detroit Land Bank Authority throughout the process. Once the lender gives a “clear to close,” all parties will mutually agree on a closing date and time.

No! Rehabbed & Ready purchasers are welcome to use whatever financing works best for them. Rehabbed & Ready accepts VA, FHA, conventional and cash offers, and encourages buyers to take advantage of down payment assistance and grant programs, such as MSHDA’s Down Payment Assistance Program.

While every family is different, homeownership is attainable for many. A mortgage payment can be less than monthly rent expenses in many Detroit neighborhoods. Speaking to a loan officer at a bank or a financial counselor at the Financial Empowerment Center can help you determine if homeownership is affordable for you. When purchasing a RRR property, be sure that you are budgeting for the cost of all additionally required repairs.

The journey to homeownership can seem daunting, but it doesn’t have to be. Start by talking to a homebuyer’s counselor (for a list of counselors, explore the resources on the Journey to Homeownership page) or a mortgage lender at a bank to get pre-qualified for a loan. Not quite ready for pre-qualification? Call the Financial Empowerment Center for free, one-on-one credit repair, budgeting help, and financial planning.

Work carried out by Rehabbed & Ready General Contractor under the scope of their services is subject to a one-year warranty starting from the completion date of construction. In the event of any items falling under this warranty, purchasers of Rehabbed & Ready to Renovate properties will be provided with a detailed list of warrantied items by the General Contractor. For additional details regarding the warranty, please click here.

The property is subject to a compliance component, specific details is outlined in the purchase agreement and listing.

Learn more about our program

*Some Amenities do not apply to Rehabbed and Ready to Renovate Properties*