Re-sale Process for Owners and Buyers
- Maintain the property as your principal residence as long as you own it.
- Sell the property to a qualified buyer who has been certified by the Department of Neighborhood Development (DND), following the steps below.
- Comply with requests for information from DND, including certifications and inspections.
If you want to refinance your property, call 617-635-LOAN (5626), ask for Loan Monitoring.
City of Boston
26 Court Street, 9th Floor
Boston, MA 02108
Attention: Boston Home Center
You should keep these documents in a safe place so that they are available should you decide to sell or refinance your property.
- Unit Deed
- The Deed Rider or Covenant for Affordable Housing
- Resale Process Brochure
In order to sell your home, you must submit a Notice of Intent to Sell to the Boston Home Center. You may either use the form on this page or write a letter to do this. The letter should state:
- the legal name(s) of the owner(s)
- the current owner's home and work telephone numbers
- the current owners' intent to sell the property, and
- if you have a mortgage with the City of Boston.
After you submit your Notice of Intent to Sell and a copy of the recorded unit deed, DND will issue a Certificate of Maximum Resale Price (MRP). The MRP is calculated according to the conditions in your Deed Rider or Covenant for Affordable Housing. The certificate will be mailed or emailed to you and is good for six (6) months.
Your buyer must meet the guidelines outlined in your Certificate of Maximum Resale Price. After accepting an offer from a qualified buyer they must contact DND to begin the buyer income certification process.
Once the qualified buyer is certified by DND you will receive a Prospective Buyer Certification from the Boston Home Center. You can then execute a Purchase and Sales Agreement with the certified buyer at or below the DND determined Maximum Resale Price. To make sure all the conditions in the Deed Rider or Covenant for Affordable Housing have been met, all closing documents must be sent to DND prior to the closing.
DND must approve the executed Purchase and Sale Agreement, the buyer's Commitment Letter, and Good Faith Estimate. The City will then provide the following closing documents.
- Discharge of the City of Boston mortgage (if required)
- Certificate of Compliance, and
- a new Note and mortgage to the City will be prepared and transmitted to the closing attorney for the lender.
The Certificate of Compliance indicates that the transfer of ownership from the current owner to the new owner meets the conditions in the Deed Rider or Covenant for Affordable Housing. A copy of the certificate will be provided to you or your attorney. This certificate is valid for six (6) months.
You or your attorney may arrange for the closing only after you have received a Certificate of Compliance from DND. If more documents are needed, you or your attorney should notify DND as early as possible.
- Contact the listing agent or home owner selling the property to make an offer on the home.
- After your offer has been accepted, you will need to contact the Department of Neighborhood Development (DND) to begin the buyer income certification process.
- Once you have been qualified as a buyer, DND will provide you and the seller with a Prospective Buyer Certification letter.
- All closing documents must be transmitted to DND prior to the closing.