Maximum Resale Price. The maximum purchase price an Attainable Unit may be sold to a new eligible buyer will be equal to the lesser of: (1) the current appraised value of the Attainable Unit; or (2) the sum of then owner’s purchase price of the Attainable Unit plus twenty five percent (25%) of the increase in the market value of the unit when appraised as if not deed restricted (determined by subtracting the purchase price from the current appraised value) (“Maximum Resale Price”). Resale of Attainable Units will be restricted to income eligible buyers with a maximum household income at or below 125% of the AMI affordability level for Flagstaff based on then current HUD figures as adjusted for household size. In determining the Maximum Sales Price, the eligible buyers’ housing expense ratio will not exceed thirty-five percent (35%) without approval by the City of Flagstaff Housing Director or designee.
Maximum Resale Price. A. The Maximum Resale Price of a Property shall be no greater than the sum of:
Maximum Resale Price. The Maximum Resale Price for each Sale subsequent to the initial Sale shall be calculated in accordance with Schedule 3 attached hereto and incorporated herein. The Agency shall approve the Maximum Resale Prices for each For Sale Affordable Unit prior to the marketing and resale of such For Sale Affordable Unit.
Maximum Resale Price. A. The Maximum Resale Price of the Property may not exceed the sum of: (i) the Purchase Price paid by the Owner for the Property, plus: (ii) an increase of three percent (3%) of such Purchase Price per year (prorated at the rate of 1/12 for each whole month, but not compounded annually) from the date of the Owner’s purchase of the Property to the date of the Owner’s sale of the Property; (iii) capital improvements made to the Property by the Owner (if and only if such improvements are allowed by the Town pursuant to the Guidelines); and (iv) a maximum of two percent (2.00%) of the sum of items (i), (ii), and (iii) of this Section A to provide the selling Owner with assistance in paying any sales commissions to a licensed real estate broker, attorneys’ fees, and closing costs incurred by the Owner in connection with the sale of the Property.
Maximum Resale Price. An owner may desire to sell a deed-restricted for-sale employee housing unit (Employee Housing Unit) provided that the resale price and prospective purchaser meet the standards of the Guidelines and the Master Deed Restriction. Resale price may not exceed:
Maximum Resale Price. (a) The Maximum Resale Price shall be the lesser of the appraised value of the Premises at the time of resale or ($ .00) DOLLARS, as increased at the rate of 3% (three percent) per annum, not compounding, from the date of this Covenant, provided the Premises is in good repair at the time of resale (“good repair” meaning that all necessary repairs to the Premises and all fixtures therein have been made throughout the ownership of the Premises so as to keep the Premises and said fixtures in the same condition in which they are now or may hereafter be put, reasonable wear and tear (being the normal, gradual deterioration occurring due to aging and ordinary use of the Premises despite reasonable and timely maintenance and repair) only excepted), as such good repair is determined by an independent inspector, agreed upon by Owner and the TownAHC, and the cost thereof borne by the Owner (in the event the Premises is not in good repair the Owner’s 3% increase per year will decrease by the cost of any necessary upgrade or repair to make the Premises in “good repair”); and provided that in no event shall the Maximum Resale Price be greater than the purchase price for which a credit-worthy Eligible Purchaser earning no more than percent ( %) of the Area Median Income for a household size appropriate for the Premises could obtain mortgage financing (as such purchase price is determined by the Monitoring Agent using the same methodology then used by DHCD for its Local Initiative Program or similar comprehensive permit program).
Maximum Resale Price. The Maximum Resale Price shall be calculated by CLT and shall be the lesser of either the Index Price or the Appraisal Price, as defined in Sections 10.5 and 10.6 below. The Residential Unit may not be sold for a purchase price in excess of the Maximum Resale Price. In the event such Maximum Resale Price is less than the Mortgage Price, the Lessee shall remain solely liable for any deficiency under the Permitted Mortgage. Finally, to ensure that the sales price of any Residential Unit is limited to the Maximum Resale Price (as it may be adjusted), no purchaser of the Residential Unit shall assume any obligation of a selling owner, nor shall such purchaser pay or provide to a selling owner any other form of consideration in connection with the sale of the Residential Unit. The calculation of the Maximum Resale Price, as made by CLT, shall be final and binding on all parties. Notwithstanding the foregoing, there is no requirement and CLT will not assure that, due to market conditions or the condition of the Improvements, the price actually paid will be the full amount of the Maximum Resale Price determined by CLT, and it may, in fact be less.
Maximum Resale Price. In no event shall a Unit be sold for an amount (“Maximum Resale Price”) in excess of the Initial Purchase Price plus an increase of 2% per year to the date of an Owner’s listing or advertising a Unit to sell (pro-rated at the rate of .167 percent for each whole month for any part of a year), which percentage shall be calculated annually without compounding.1 NOTHING HEREIN SHALL BE CONSTRUED TO CONSTITUTE A REPRESENTATION OR GUARANTEE BY THE COUNTY OR THE DECLARANT THAT UPON RESALE THE OWNER SHALL OBTAIN THE MAXIMUM RESALE PRICE.
Maximum Resale Price. The maximum purchase price an Affordable Unit may be sold to a new owner will be equal to the lesser of: (1) the current appraised value of the Affordable Unit; or (2) the sum of then owner’s purchase price of the Affordable Unit plus twenty five percent (25%) of the increase in the market value of the unit if not encumbered (determined by subtracting the purchase price from the current appraised value) (“Maximum Resale Price”).
Maximum Resale Price. No Owner of the WHU shall sell the WHU for an amount greater than the Maximum Resale Price for the WHU, which Maximum Resale Price shall be calculated as follows:
