When you purchased your home, you received the benefit of the state’s investment in affordable homeownership. You may have paid a lower than market rate price for the house, or received a low interest rate, or received some other special consideration when you purchased your home.

All affordable homeownership homes are deed restricted. This is how the state ensures that there is a long term benefit from their investment in homeownership. This Deed Restriction contains use and resale restrictions that limit the profit that you can make at the time of resale. The Deed Restriction is recorded along with the deed of your home at the local Registry of Deeds. You were given a copy of this Deed Restriction at the closing of the sale. This Deed Restriction has very specific instructions related to the sale of your home.

The best way to be sure that you don’t run into any surprises when you consider selling your home is to contact your local agency before you put your home on the market. The housing counselor at your local agency can review the restrictions with you and provide you with the information you need to make the best decision about selling your home.