Owl Ranch by DR. Horton
If you entered the Drawing by the deadline you can log in to your account and find your ranking results!
Note: Occupancy Standard: Minimum 3, Maximum 4 (confirmed by the City).
INFORMATION & ANNOUNCEMENTS
PROGRAM DOCUMENTS & DISCLOSURES
Resale Restriction, Excess Sales Proceeds Note, and Deed of Trust
This program requires you to sign a Restriction Agreement.
Resale Restriction Terms: 55 Years
Understanding the intricacies of the program documents is crucial when considering participation in a housing program. Deed restrictions, agreements, promissory notes, and deeds of trust are all legal instruments that can significantly impact the rights and obligations of property owners. For instance, deed restrictions can limit how a property is used, who you can sell it to, refinancing, and upgrading the home, and it requires the owner to occupy the home. It also sets conditions for its future sale, which includes a cap on the resale value and/or an equity share, depending on the program. Similarly, a promissory note is a binding promise to repay a loan and/or excess sales proceeds (the difference between the home's fair market value and the maximum restricted resale price), and a deed of trust secures the promissory note by placing a lien on the property. Click below to access & review the documents to ensure this program is for you. You can hire an attorney to help you understand the Program Documents you’ll sign and promise to abide by.
OPPORTUNITY DRAWING #571
(1 Unit) 3 Bed / 2.5 Bath
Approx. 1,582 Sq Ft
Restricted Sales Price: $258,047
Solar: Estimated: Lease $96 monthly / Purchase $10,250
Monthly HOA: $263
Income Limits - Up to Low
Occupancy Standard: Minimum 3, Maximum 4 (four, confirmed with City).
Resale Restriction Terms: 55 years (Review the documents above)
First-Time Home Buyer Requirement: No requirement. There is an asset limitation. Please see the ODN for details.
Please refer to the ODN (Right) for additional information
Note: The Final Ranking number is subject to change after preferences are verified.
Important Deadlines
Date Open to Enter Drawing: 8/30/2024
Drawing Entry Deadline: 10/4/2024 @ 5 PM
Initial Items Due by 10/4/2024 5 PM (Initial Items due from everyone, please see the Opportunity Drawing Notice)
Ranking results will be published approx. 10/9/2024
File Submission Deadline: 10/25/2024 by 5:00 PM (Additional Items due from everyone, please see the Opportunity Drawing Notice)
