Lottery Process for ACA Program

ACA homes will be offered for sale to Officers and Teachers for five days prior to other eligible homebuyers. If more than one eligible offer (an offer that meets CDC criteria) is received for a single property, a lottery will be used to determine the accepted offer.

1. Once a property is ready for sale and placed on the MLS, offers can be submitted during the Officer/Teacher marketing period - a five day work week (8:30 AM, Monday - 4:30 PM, Friday.)

2. An Eligible offer must include all of the following.

• Teachers and Officers have no maximum income requirements.
• Buyer must be an owner/occupant for a minimum of 1 year.
• Completed CDC Home Buyer Application.
• Provide proof of legal residency, i.e. Birth Certificate, Green Card, etc.
• Provide an Employer's Certification of Employment Letter.*
• Complete HUD approved Home Buyer Education Classes, "Certificate of Completion" required.
• Complete one-on-one pre-purchase counseling with CDC counselor.
• Provide a copy of your chosen lender's "Good Faith Estimate" for CDC review.
• Buyer's lender to provide verification of income and debt ratios for CDC review.
• Buyer's lender to provide loan pre-approval letter, include mortgage company's license number, loan officer's license number, type of loan, mortgage amount and interest rate for CDC review.
• $500 earnest money.

3. Results of a lottery will be posted at the CDC office and on the CDC website after 11 AM on the Tuesday following the deadline for offers from teachers and officers.

Other Eligible Homebuyer Offers

1. If a property is not sold after the Officer/Teacher marketing period the home will be marketed to other eligible homebuyers beginning 8:30 AM the Wednesday following the five day Officer/Teacher marketing period.

2. If multiple offers are received for a single property, during business hours the Wednesday following the five day Officer/Teacher marketing period, a lottery will be held. Offers will be drawn randomly. Example: If there are 5 offers they will be selected for positions 1 through 5. If the first offer selected does not purchase the property, the second offer selected will be accepted. If none of the 5 offers results in a sale the property will be marketed to other eligible homebuyers on a first come, first serve basis beginning the Thursday following the five day Officer/Teacher marketing period..