Buying a home can be stressful, and buying a resale-restricted home adds another layer of complication. The key to ensuring buyers understand resale restrictions is to provide multiple opportunities and various modes of conveying the information. Many programs:
- Have clear written information, including examples of the resale formula available to all buyers.
- Offer some in-person homebuyer education that includes a review of the restrictions and how they work.
- Require that buyers meet with an attorney prior to closing to review the program restrictions and associated legal documents. Some even go so far as to identify the reviewing attorney in the legal document itself so that there can be no confusion down the road that homeowner was well informed at the time of initial purchase.
