Maximum Sale Price Sample Clauses

Maximum Sale Price. The Original Purchase Price (“OPP”) of the Housing Unit shall be the basis for calculating the Maximum Sale Price (“MSP”) in accordance with this Covenant and the Guidelines in effect at the time of listing the Housing Unit for re-sale. 7.3.1 The Housing Unit shall meet the Minimum Resale Standards, defined in Section 7.2.4, below, to sell at MSP. 7.3.2 The MSP of a Housing Unit shall be limited to be no more than the following calculation: The MSP may not exceed the sum of: (i) the OPP paid by the Owner for the Housing Unit, plus: (ii) an increase of three percent (3%) of such OPP per year compounded annually (prorated at the rate of 0.25 percent for each whole month, but not compounded annually) from the date of the Owner's purchase of the Housing Unit to the date of the Owner's Notice of Intent to Sell the Housing Unit; plus (iii) an amount equal to any special improvement district assessments, if applicable and not transferable, paid by the Seller during the Seller's ownership of the Housing Unit; (iv) the cost of Permitted Capital Improvements made to the Housing Unit by the Owner as set forth in Section 7.3.3, less the amount required to bring the Housing Unit up to the Minimum Resale Standards, if any.

Maximum Sale Price. For Sale Dwellings cannot be sold, initially or subsequently during the Affordability Period, for more than the HOME program sale price limits established by the City of Savannah Housing and Neighborhood Services Department (HNSD), which may be reviewed biannually. The Maximum Sale Price limit for a For Sale Dwelling in 2023 is $250,000 and is subject to change upon review. Any sale, conveyance, or transfer of a For Sale Dwelling, or interest therein, during the Affordability Period and for more than the Maximum Sale Price (as established at the time of such sale, conveyance, or transfer) shall be considered void ab initio unless the Maximum Sale Price requirement is otherwise waived, in writing, by the City of Savannah or its assignee.

Maximum Sale Price. In no event shall the Property be sold for an amount in excess of the Original Purchase Price plus the applicable percentage of appreciation per year, and as provided below. A. Appreciation shall be three percent (3%), simple annually. i. In the event an Owner owns the Property for only a portion of any year, the percentage increase shall be prorated monthly, from purchase date until the Property is listed for sale. B. Increase in market value caused by Permitted Capital Improvements shall not increase the Owner’s Original Purchase Price and are subject to depreciation as set forth in the most current SAHG. For the purpose of determining the Maximum Sale Price, the following amounts may be added at the discretion of the Silverton Housing Authority in accordance with the SAHG: i. The cost of Permitted Capital Improvements as set forth in the most current SAHG. ii. The cost of any permanent improvements constructed or installed as a result of any requirement imposed by any government agency or assessment by a homeowner’s association for such permanent improvements, provided that written certification is provided and approved by the Silverton Housing Authority. C. Owner shall not permit any prospective buyer to assume any or all of the Owner’s customary closing costs nor accept any other consideration which would cause an increase in the purchase price above the Maximum Sale Price so as to induce the Owner to sell to such prospective buyer. NOTHING HEREIN SHALL BE CONSTRUED TO CONSTITUTE A REPRESENTATION OR GUARANTEE BY THE SILVERTON HOUSING AUTHORITY, THE COUNTY, OR ASSIGNS, THAT UPON RESALE THE OWNER SHALL OBTAIN A PARTICULAR PRICE INCLUDING BUT NOT LIMITED TO THE MAXIMUM SALES PRICE OR ORIGINAL PURCHASE PRICE.

Maximum Sale Price. 7.2.1 The Original Purchase Price (“OPP”) of the Unit shall be the basis for calculating the Maximum Sale Price (“MSP”) in accordance with this Covenant and the Guidelines in effect at the time of listing the Unit for re-sale. 7.2.2 The Unit shall meet the Minimum Resale Standards, defined in Section 7.2.5, below, to sell at MSP. 7.2.3 The MSP of a Unit shall be limited to be no more than the following calculation: The MSP may not exceed the sum of: (i) the OPP paid by the Owner for the Unit, plus:

Maximum Sale Price. Calculation of Maximum Sale Price. ................................................................................