Dollar House Pilot Program

Pilot Program to return tax delinquent lands to effective utilization.

Overview

Overview:

The Land Reutilization Authority (LRA) was created by state statute, with the task of returning tax-delinquent lands to effective utilization in order to provide housing, new jobs, and industry for the citizens of the City of St. Louis. The LRA is always seeking new ways to sell more of the buildings that it owns.

The LRA Commission has authorized a one year pilot program to sell single family residential properties owned by the Land Reutilization Authority of the City of St. Louis for $1.00, subject to certain requirements. 

Preparation

 Identify an Eligible Building

  • The building must be a single family residential property
  • Must be less than 1,500 square feet
  • Must have been in the LRA inventory for more than 5 years
  • Search eligible LRA owned properties

Instructions

Inspection and Offer Process

  • The prospective buyer will inspect the property and prepare a plan and a budget.
  •  Buyers will be required to use licensed service providers to install electrical, plumbing, and HVAC systems, if work on those system is required.
  • Make an offer on the property. Call Real Estate Receptionist at 314-657-3721 to make an appointment (required). A $25.00 non -refundable application fee must be paid at appointment time, and you must provide the information referenced on the Offer Checklist. (Checklist available from the Real Estate Receptionist)
  • Your application to purchase a property under the Dollar House Pilot Program will be reviewed by staff to determine if your application meets the program requirements.
  • Staff will provide a recommendation to the LRA Commission at the monthly commission meeting, held the last Wednesday of the month.
  • If your application is approved by the Board of Commissioners, you will receive instruction for closing on the approved property.

 

Prior to Closing

  • Buyers must obtain Title Insurance prior to closing. LRA staff can order the insurance for you upon receipt of $250.00. Title Insurance ensures that there are no prior liens or judgments against the property.
  • Buyer must attend Homeowners Counseling through e-Home America. After approval, you will be given a code that will provide a discount for the online class.   
  •  Buyer will submit plans and budget to LRA staff for approval.

Closing

  • At closing (transfer of title) buyer will sign a Quit Claim Deed to LRA, which will be held until an occupancy permit is issued and the three years residency requirement has been met.
  • Buyer will need to bring a check for recording fees.

Fees

Under this Program, the Purchaser will pay:

  • Processing Fee - $25.00
  • Homeowners Counseling Class - $70.00 - After approval, buyer will be given a code that will provide a discount for the online class.   
  • Title Insurance - $250.00
  • Recording Fees - $58.00

What to Expect

Post Closing

  • Buyers will be required to stabilize the structure of the home and bring the exterior of the structure to code compliance within 120 days of closing on the property.
  • Buyers will have up to 18 months to renovate the property to city code and obtain an occupancy permit.
  • Buyers will be required to own and occupy the property for at least three years after obtaining the occupancy permit.
  • If buyer does not fulfill the occupancy permit and residency requirement, property will revert back to the LRA.

Additional Information

Contact

Land Reutilization Authority

(314) 657-3721

1520 Market St., Suite 2000
St. Louis, Mo 63103

8:30 A.M. - 4:30 P.M.

Contact the Land Reutilization Authority

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