City’s Verification of Eligible Homebuyer Status Sample Clauses

City’s Verification of Eligible Homebuyer Status. Participant shall be responsible for the initial determination of a buyer’s Eligible Homebuyer status and shall provide information to the City Party to enable the City Party to verify that the proposed buyer is an Eligible Homebuyer. In order to verify the buyer’s status as an Eligible Homebuyer, Participant shall submit to the City Party adequate information evidencing the income of the proposed buyer and the buyer’s status as an Eligible Homebuyer, including evidence that the buyer lawfully resides in the United States. Said information shall include original or true copies of pay stubs, income tax records or other financial documents in order that the City Party may determine and verify the household income of the proposed buyer and qualification as Middle Income Household. In addition, Participant shall submit to the City Party affidavits of first time homebuyer status certified by the buyer as true and correct. The City Party may request additional information reasonably required to verify the proposed buyer’s Eligible Homebuyer status. Participant shall complete or cause to be completed any applications, verification documents or other forms that may be provided by a City Party for Participant or the proposed buyers to complete. If the City Party is unable to verify the buyer’s Eligible Homebuyer status, then the buyer shall not be eligible to purchase the Home and Participant shall select another applicant for approval of Eligible Homebuyer status.
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Related to City’s Verification of Eligible Homebuyer Status

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