Copperleaf at Riversound by Brookfield Residential
Opportunity Details

5 Three-bedroom townhomes
estimated sales price of $586,686 (Subject to change)

Program Documents & Disclosures

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

This program requires you to sign a Restriction Agreement with a TBD-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.

RESOURCES

• Learning Library

• How-to and Informational Videos

• How to get started and prepare a file

• Register for HUD Approved 1st Time Homebuyer course

• Housekeys Application Form

• Complete (Full) File Document Checklist

• Lender List and Forms: Click Here

Property Location

Please do not visit the site due to safety requirements. Viewings are by appointment only for final candidates.