Resale at 203 Sunkist Way

INFORMATION & ANNOUNCEMENTS

12.20.2024 Update – The City of Campbell will be adding a new Tier 1 City Preference. We hope to have an update in early January. In the meantime, work on the items listed on the Opportunity Drawing Notice (minus City Preferences Exhibit E), so you are prepared to submit them by early January 2025.

Program Documents & Disclosures

Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust

This program requires you to sign a Restriction Agreement with a 45-year term.

Understanding the intricacies of the program documents is crucial when considering participation in a housing program. Deed restrictions, agreements, promissory notes, and deeds of trust are all legal instruments that can significantly impact the rights and obligations of property owners. For instance, deed restrictions can limit how a property is used, who you can sell it to, refinancing, and upgrading the home, and it requires the owner to occupy the home. It also sets conditions for its future sale, which includes a cap on the resale value and/or an equity share, depending on the program. Similarly, a promissory note is a binding promise to repay a loan and/or excess sales proceeds (the difference between the home's fair market value and the maximum restricted resale price), and a deed of trust secures the promissory note by placing a lien on the property. Click below to access & review the documents to ensure this program is for you. You can hire an attorney to help you understand the Program Documents you’ll sign and promise to abide by.

OPPORTUNITY DRAWING #651

3 Bedrooms 2.5 Bathrooms

Approx. 1507 Sq Ft

Sales Price: $790,011

Monthly HOA: $300

Property Designated Income Category: Up to Moderate

Resale Restriction Terms: 45 Years (Review the documents on this page)

Please refer to the ODN (Right) for additional information

Important Deadlines

Start Entering Drawing on: 12/20/2024 by 5:00 PM

UPDATE: Due to changes to the city preferences, an updated timeline for the drawing will be delivered after January 6, 2024.

12.20.2024 Update – The City of Campbell will be adding a new Tier 1 City Preference. We hope to have an update in early January. In the meantime, work on the items listed on the Opportunity Drawing Notice (minus City Preferences Exhibit E), so you are prepared to submit them by early January 2025.

City Preferences

Note: The Final Ranking number is subject to change after preferences are verified. Applicants cannot adjust their City Preference Tiers after the Drawing Entry Deadline. Preference Tier adjustments or corrections by the applicant after the Drawing Entry Deadline will not be considered.

RESOURCES

Property Location

Please do not disturb the owners. See Open House Details. After the open house, viewings are by appointment only for final candidates.