OTHER REQUIREMENTS AND CONDITIONS. 1. No price increase whatsoever shall be allowed during such time, if any, that Owner was in violation of any requirement of this Covenant. 2. Transferee or Transferee’s designee and Housing Programs staff or staff's designee shall be afforded reasonable opportunity to inspect the property for damage or deferred maintenance. If there is property damage or if there is substantial deferred maintenance, Owner shall correct to City’s satisfaction. Housing Programs staff may lower the maximum sale price by the amount needed either to repair the damage or to correct needed maintenance. 3. The Owner may not require a Transferee to pay any commissions or other costs of sale typically paid by sellers of residential real property. The Owner cannot require the Transferee to pay the listing agent; likewise, the Transferee cannot require the Owner to pay the selling agent. Absent a ‘cooperating’ provision in the listing agreement, a Transferee of a City affordable unit may contract with a real estate agent for representation and pay the negotiated fee for this service. 4. The price paid to Owner by the Transferee for Owner's personal property must be disclosed to the City in writing during escrow, and price paid shall not exceed the current fair market value of such personal property. 5. Under no circumstances will the Property’s calculated maximum sales price be increased by the amount of monthly ▇▇▇ ▇▇▇▇/assessments or the conversion of an increase of ▇▇▇ ▇▇▇▇ to a special assessment. Resale price increases requested due to a special HOA assessment imposed on a City affordable housing project will be considered on a project-by-project basis, subject to prior written notice to the City and only upon pre-approval by the Community Development Director or designee.
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OTHER REQUIREMENTS AND CONDITIONS. 1. No price increase whatsoever shall be allowed during such time, if any, that Owner was in violation of any requirement of this Covenant.
2. Transferee or Transferee’s designee and Housing Programs staff or staff's designee shall be afforded reasonable opportunity to inspect the property for damage or deferred maintenance. If there is property damage or if there is substantial deferred maintenance, Owner shall correct to City’s satisfaction. Housing Programs staff may lower the maximum sale price Maximum Sale Price by the amount needed either to repair the damage or to correct needed maintenance.
3. The Owner may not require a Transferee to pay any commissions or other costs of sale typically paid by sellers of residential real property. The Owner cannot require the Transferee to pay the listing agent; likewise, the Transferee cannot require the Owner to pay the selling agent. Absent a ‘cooperating’ provision in the listing agreement, a Transferee of a City affordable unit may contract with a real estate agent for representation and pay the negotiated fee for this service.
4. The price paid to Owner by the Transferee for Owner's personal property must be disclosed to the City in writing during escrow, and price paid shall not exceed the current fair market value of such personal property.
5. Under no circumstances will the Property’s calculated maximum sales price Maximum Sale Price be increased by the amount of monthly ▇▇▇ ▇▇▇▇/assessments or the conversion of an increase of ▇▇▇ ▇▇▇▇ to a special assessment. Resale The City has no control over ▇▇▇ ▇▇▇▇, but the Community Development Director or the Director’s designee may consider requests for resale price increases requested due to a special HOA assessment imposed on a City affordable housing project project. Such requests will be considered on a project-by-project basis, subject to prior written notice to the City and only upon pre-approval by the Community Development Director or designee.
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