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Steps to Purchase Your Home

Overview of the Process


Steps to Buy A Home From WCLT

Step 1: Make sure you meet the income guidelines. WCLT sells their homes to individuals and families that make 80% or less of the Area Medium Income and with a credit record acceptable to a bank. Contact us if you need help with this chart. 


Family Members (FY2018 HUD) 

   1              2              3            4             5         6             7               8 

37,150   42,450   47,750   53,050   57,300   61,550   65,800   70,050


Step 2: Call your Realtor to show you the home. If you do not have one, call the listing agent, Jill Huard, of Century 21 Surette Real Estate, at 207-314-1039 or 207-873-5634. 


Step 3: Income requirements, estimated cost of owning the home, application and selection criteria documents are available at the home for viewing and online to be used by you at https://watervilleclt.org/steps-to-purchase-a-home Contact us for any questions and to let us know you are applying. This might be a good time to sign up for KVCAP’s homeowner’s course. 


Step 4: Once WCLT receives your application you will hear from the committee within 10 business days. The committee decides if you meet all criteria. If there are multiple applications, your application will be ranked based on our secondary selection criteria. A WCLT director will call/write you to make an appointment to meet with you to discuss your application and to answer any questions you may have about community land trusts. 


Step 5: After the meeting you will notify your Realtor and seek preapproval from one of our three recommended banks. (Camden National, Skowhegan Savings, or Residential Mortgage Services). WLCT will pay for any closing costs over $1000, but only what is allowed by the lender.


Step 6:  Once the preapproval letter is received, you make your offer for the house by a Purchase and Sales (P&S) agreement through your Realtor.  If WCLT signs the P&S, then your Realtor will guide you through the purchase process to closing. 


Step 7:  The lender will conduct an appraisal and a title search to protect their investment and ensure a clean title.


Step 8: Once all documents are ready, the closing is arranged. 


The above is typical process. There will always be exceptions and deviations.

HUD Income Guidelines

WCLT aims to sell our homes to individuals and families making 80% or less of Area Medium Income (AMI) for Kennebec County.  

Homeowner Education Package

You will find this very helpful to understand community land trusts.

Application to Purchase a WCLT Home

Leasehold Ownership

This is a large document.  You and your bank will want to understand it thoroughly. Please write watervilleclt@gmail.org to ask us any questions