A lottery will help decide which family will get to own a two-bedroom, one-bath condo in Redwood City, priced to be affordable to low-income earners.
The home at 1231 Warren Ave. is selling for $304,737, a substantial markdown compared to the million-dollar homes typically on the market. The pre-application process is now open for those interested in purchasing the home and will remain open until 5 p.m. Monday, April 25.
To enter, applicants must obtain a real estate agent and submit two forms, a first mortgage preapproval letter and the city’s Affordable Home Buyer Program Eligibility Pre-Application Form.
Pre-applications must meet the city’s minimum eligibility requirements to be entered into the selection lottery. Included in the requirements is an expectation that applicants have a household of at least two people and at most five, are legal residents and have a minimum credit score of 660.
All household adults are also expected to be first-time homebuyers except for those who owned a home with a former spouse during their marriage, owned a home that was not permanently fixed to foundation or owned a home that was not in compliance with state or local building codes and could not be brought up to code for less than the cost of constructing a permanent structure.
Preference will be given to interested buyers who currently live or have lived in the city, currently work in the city or have been offered a job. The selected pre-applicant and a backup buyer will be asked to submit a full application. If approved after city review, the applicant will enter into a purchase and sale agreement with the city.
Questions and completed pre-applications can be directed to Renée Daskalakis at r.daskalakis@ggsir.com or (650) 597-1848 and interested buyers can visit redwoodcity.org/departments/city-manager/housing-services/homeowners/bmr-units for more information on how to apply.
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CA Is Burning said:
CA Is Burning said:
Fewer democrats would be quite helpful
Dirk van Ulden said:
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