Sellers : Blaine County Housing Authority Assisting with Affordable Housing in Blaine County Idaho

Sellers

Selling an Affordable Housing Unit

Those who wish to sell their unit should consult with BCHA and review the Deed Restriction to determine the permitted maximum re-sale price and understand other terms and conditions. The unit owner should refer to the Deed Restriction and Part IV, Section 2 of the Housing Guidelines for guidance in determining the pricing of the “for-sale” unit.

The owner of the unit may choose to list the property for sale with a licensed real estate broker or may represent himself/herself in the transaction. Any fees charged by the real estate broker will be in addition to the administrative fee charged by BCHA referenced in the Deed Restriction. If the unit owner uses a real estate broker, the broker must sign an agreement with BCHA acknowledging the sale will be conducted in accordance with the terms of the Deed Restriction and the Housing Guidelines within three business days of listing the unit.

The owner must also execute and deliver a “Notice of Intent to Sell” form to BCHA regardless of the involvement of a real estate broker. The selection of the purchaser and terms of the transaction are described in the Housing Guidelines.

BCHA will monitor and approve the selection of the purchaser as well as the sale price and terms. BCHA may require a listing period of three months (where the unit remains unsold) before the unit's price can be readjusted; any price readjustment must be approved by the BCHA. The unit owner will reimburse the BCHA for any costs incurred by BCHA in the buyer notification and selection process if the owner fails to consummate a sale transaction.

BCHA staff members are not acting as licensed brokers, but as representatives of the BCHA and its interests. All purchasers and sellers are advised to consult legal counsel regarding terms of sale, examination of title and any other contracts, agreements and documents pertaining to the transfer of ownership of the unit. The purchaser and/or seller are solely responsible for the expenses associated with the retention of legal counsel, licensed real estate brokers, or related services. The fees paid to the BCHA are paid regardless of any actions undertaken or services acquired by the purchaser or seller.

Blaine County Housing Authority
400 S. Main St. Ste 303 | PO Box 550 Hailey, ID 83333 | Toll Free: (800) 990-6102 | Tel: (208) 788-6102 | Fax: (208) 788-6136