Common use of General Rules on Resales Clause in Contracts

General Rules on Resales. If an Owner desires to Transfer their Unit, the Owner shall notify YVHA in writing of their intention to Transfer the Unit. The Owner must list the Unit for sale through YVHA, or its designated listing affiliate, for a commission equal to 2% of the sales price, and upon such other reasonable and customary terms as YVHA may determine. YVHA reserves the right to require that the Unit be sold via a lottery system, as set forth in the YVHA Lottery System Rules maintained by YVHA, as may be amended from time-to-time, and which will be published on the YVHA website. Units shall NOT be sold, transferred, and/or conveyed (1) to any person(s), entity, or entities other than a Qualified Owner, as defined in Article II and as approved by YVHA; (2) for consideration to be paid by such Qualified Owner that exceeds the Maximum Resale Price as such is determined pursuant to the provisions of this Article; or (3) without listing the Unit for sale through YVHA.

Appears in 1 contract

Samples: Residential Housing Restrictive Covenant

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General Rules on Resales. If an Owner desires to Transfer their Unit, the Owner shall notify YVHA in writing of their intention to Transfer the Unit. The Owner must list the Unit for sale through YVHA, or its designated listing affiliate, for a commission equal to 2% of the sales price, and upon such other reasonable and customary terms as YVHA may determine. YVHA reserves the right to require that the Unit be sold via a lottery system, as set forth in the YVHA Brown Ranch Lottery System Rules maintained by YVHA, as may be amended from time-to-time, and which will be published on the YVHA website. Units shall NOT be sold, transferred, and/or conveyed (1) to any person(s), entity, or entities other than a Qualified Owner, as defined in Article II and as approved by YVHA; (2) for consideration to be paid by such Qualified Owner that exceeds the Maximum Resale Price as such is determined pursuant to the provisions of this Article; or (3) without listing the Unit for sale through YVHA.

Appears in 1 contract

Samples: Community Affordability Agreement

General Rules on Resales. If an Owner desires to Transfer their Unit, the Owner shall notify YVHA in writing of their intention to Transfer the Unit. The Owner must list the Unit for sale through YVHA, or its designated listing affiliate, for a commission equal to 2% of the sales price, and upon such other reasonable and customary terms as YVHA may determine. YVHA reserves the right to require that the Unit be sold via a lottery system, as set forth in the YVHA Lottery System Rules Implementation Plan maintained by YVHA, as may be amended from time-to-time, and which will be published on the YVHA website. Units shall NOT be sold, transferred, and/or conveyed (1) to any person(s), entity, or entities other than a Qualified Owner, as defined in Article II and as approved by YVHA; (2) for consideration to be paid by such Qualified Owner that exceeds the Maximum Resale Price as such is determined pursuant to the provisions of this Article; or (3) without listing the Unit for sale through YVHA.

Appears in 1 contract

Samples: Deed Restriction

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General Rules on Resales. If an Owner desires to Transfer their Unit, the Owner shall notify YVHA in writing of their intention to Transfer the Unit. The Owner must list the Unit for sale through YVHA, or its designated listing affiliate, for a commission equal to 22.0% of the sales price, and upon such other reasonable and customary terms as YVHA may determine. YVHA reserves the right to require that the Unit be sold via a lottery system, as set forth in the YVHA Brown Ranch Lottery System Rules maintained by YVHA, as may be amended from time-to-time, and which will be published on the YVHA website. Units shall NOT be sold, transferred, and/or conveyed (1) to any person(s), entity, or entities other than a Qualified Owner, as defined in Article II and as approved by YVHA; (2) for consideration to be paid by such Qualified Owner that exceeds the Maximum Resale Price as such is determined pursuant to the provisions of this Article; or (3) without listing the Unit for sale through YVHA.

Appears in 1 contract

Samples: Community Affordability Agreement

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