Selling your Attainable Home
The first step in selling your Attainable home is to decide whether you would like to list it with a realtor or sell it 'By Owner'. Either way, you will need to complete a Letter of Intent to Sell and submit it to the Housing Department. Even though the Housing Department does not facilitate the sales of Attainable homes, we do have to verify that the buyers are qualified to purchase the home.
You can set the price of your home, but be prepared to negotiate with the buyer the same as if it was a market home. Also keep in mind that the buyers will need to qualify under the income and asset limits pertaining to your home so if your home is priced too high, it will be difficult to find buyers who can afford the home and still qualify to purchase it.
In addition, please note that according to the Attainable Restrictions, Qualifying Mortgages cannot exceed the deed restricted value of your home.
Once you are under contract with a buyer, they will need to submit a complete application to the Housing Department along with a copy of the contract for qualification purposes. Once the Housing Department receives the complete application, it can take up to a week to qualify the buyer.
The Housing Department will provide a Qualified Buyer Letter with copies to the title company and to you as the seller or to your realtor.
Please inform the Housing Department of the closing date and time as we will attend in order to answer any questions.