Buy Deed Restricted Units

An applicant (person/household) must meet the following criteria to qualify to purchase an APCHA unit:


APCHA will assign each applicant a Category based on the applicant’s income and assets. The applicant will be able to “bid” on APCHA properties in their category or in a higher category, but an applicant may not bid on a unit that is a lower category than their own. Because there is more demand for APCHA workforce housing than supply, a lottery is held for all “first priority” bidders. To achieve “first priority” status, a qualified bidder will have at least 4 years’ consecutive full-time work history in Pitkin County and will meet the Category and minimum occupancy for the unit that is for sale. If the winner of a lottery does not complete the sale transaction, the unit will be offered to the next person on the lottery list. If none of the applicants in a lottery complete the sale transaction, a lottery will be held between bidders who are not “first priority”.

After Lottery

After the lottery, the winner will do an initial walkthrough of the unit and will have 72 hours to sign the contract and present their earnest money (usually $2,000). The sale contract will include the sale price, deadlines for inspection, inspection resolution, appraisal, lending and title, HOA information and any contingencies. The closing is usually 7-8 weeks from the day of the lottery.


Lending is the sole responsibility of the Buyer. Applicants are strongly encouraged to speak to a Lender before bidding on an APCHA property.

Buyer/Owner’s Responsibilities

Staying current with HOA assessments, taxes, the mortgage and maintaining the unit after purchase are the buyer/owner’s responsibility. The buyer may also be able to make and receive credit (upon resale) for certain capital improvements as allowed by the APCHA Guidelines and the unit’s deed restriction.