For Real Estate Agents
READ BEFORE LISTING OR SELLING A PRIVATELY OWNED AFFORDABLE HOME IN THE TOWN OF DAVIDSON
For details regarding The Town of Davidson’s Affordable Housing Program, please contact the Affordable Housing Department via email: email@example.com for a copy of the Declaration of Affordable Deed Restrictions associated with the property that you are showing or selling as well as a copy of the Town’s Affordable Housing Program Overview and the latest version of the HUD Area Median Income Chart for Mecklenburg County.
- Familiarize yourself with the Affordable Deed Restrictions so that you can address any questions or concerns that your buyer(s) may have. Reviewing the current Mecklenburg County Area Median Income chart is necessary for potential buyers to gauge whether they meet target household income requirements based on their gross income and household size.
- Gross income: the total earnings a person receives before paying taxes.
- Household: proposed owners of record plus dependents (dependents must be verifiable via income tax return).
- A copy of the applicable Affordable Deed Restrictions must be attached to your Offer to Purchase and Contract. Cite this attachment under provision 14 ‘identify other attorney or party drafted addenda.’
- Your buyer(s) should be certain of their AMI level and qualification as a ‘Qualified Owner’ prior to submitting an Offer to Purchase and Contract.
- Please have your buyer complete the following AMI application ONLY if they intend to submit an Offer to Purchase and Contract: Form Center • Application to See if You Qualify for Affordab (townofdavidson.org)
- Example language to include in property listing: Please note this property is part of the Town of Davidson’s Affordable Housing Inventory. This property is subject to Affordable Deed Restrictions including buyer income restrictions. (Address) is restricted to buyers making at or under (%) of the current area median income for Mecklenburg County. No offers will be accepted without written approval as Qualified Owner from the Town of Davidson
- Please do not include phone numbers or email addresses of town employees in remarks or description. Please do include a link to the town’s website for further information. Affordable Housing | Davidson, NC - Official Website (townofdavidson.org)
- As per the Affordable Deed Restrictions, your seller client may accept no more than the Maximum Sales Price established by the Town of Davidson via the Resale Notice.
- Sellers should not accept any offers that are not accompanied by written approval from the Town of Davidson stating that the buyer listed on the Offer to Purchase and Contract is approved as a ‘Qualified Owner.’