The Encore at 4104

2 Homes for Sale to Income-Eligible Buyers for $355,853

Deadline to Enter Lottery: Tuesday, April 30th 2024 at 5 PM

INFORMATION & ANNOUNCEMENTS

A green, sustainable project built by Apple Homes Development, The Encore is perfect for first-time buyers or those looking to simplify their lifestyle with these luxury single-level condominiums.

Perfect commute location: just 25 minutes to Silicon Valley and 10 minutes to Santa Cruz’s finest beaches and world-class surf! Apple, Google, Netflix, Yahoo, and Facebook shuttle buses are 2 minutes away at the Scotts Valley Transit Center.

Top-rated schools and a great Walk Score.

The Encore’s proximity to the Redwoods and the Pacific Ocean allows a lifestyle perfect for outdoor enthusiasts. Whether you enjoy hiking, biking, surfing, and sailing or strolls on the beach, it’s right there for you…

Program Documents and Restriction Agreements

The buyers will be required to sign Program Documents that require the new owners to follow certain restrictions and limitations. Please ensure you and your loan officer/lender review the documents carefully. Feel free to hire an attorney to help you understand them and to ensure this is the type of program you are willing to follow and participate in. Among other responsibilities, there will be an annual compliance certification each year to ensure the homeowners continue to occupy the property and are not renting it.

Restriction Term: 45 Years

• Assumption Agreement Form 3 - The Encore

• Restriction Agreement - The Encore

MINIMUM DOCUMENTS REQUIRED TO ENTER A DRAWING AND BE RANKED

PLEASE ENSURE YOU REVIEW THE OPPORTUNITY DRAWING NOTICE FOR FULL INSTRUCTIONS, DEADLINES, AND DISCLOSURES.

Applicants who enter by the entry deadline without the required documentation, WILL NOT be ranked and fall behind ranked applicants based on entry date and time.

This drawing has required documents that must be submitted by the drawing entry deadline:

1. A Housekeys Application specific to the project and drawing must be completed and signed.

2. A current/valid loan Pre-Qualification: To participate in the drawing and complete the purchase, choose a loan officer from the APPROVED HouseKeys list of lenders and loan officers. Obtaining a pre-qualification letter requires time; we highly recommend you start this immediately. The Lender list, application forms, and lists can be found here: Packaging a Buyer File — HouseKeys

3. Exhibit E – Preference Form with supporting documentation. Locate the form here: Reference Documents & Standard Forms — HouseKeys

PLEASE NOTE: If a selected preference cannot be verified because the completed Exhibit E or the specific supporting documents required by the city are not provided, you will lose the preference and be ranked without it.

AFTER THE RANKING

• We will begin reviewing applicants’ files in ranked order, in batches of 1 per opportunity plus one or a minimum of 5, whichever is greater.

• Once ranked, we will contact applicants and their Loan Officer, in ranked order, to submit a Complete File. You can find the Full Document Checklist HERE.

  • Other Forms https://www.housekeys.org/buyerfile

• Upon notification, the applicant will have 7 business days to submit ALL documents for further consideration. If the applicant is unresponsive or does not submit ALL the required documentation by the deadline, they will be released from the drawing. They may request to re-enter as a backup. 

• Throughout the process, HouseKeys or the Program Provider may require you to submit additional or updated documentation to determine eligibility. The deadlines may be as short as 24 hours.

• For full process, please refer to the Opportunity Drawing Notice.

IMPORTANT: Please follow our “Document Naming Conventions” Form to ensure all supporting documents are accounted for and labeled correctly. In addition, view:

• How to Name or Correct the Document Names in Your File Cabinet

• Frequent Mistakes to Avoid when Uploading to the File Cabinet

• How to find your file cabinet and upload documents

Submit ONLY PDF format file. (No JPEG, SVG / screenshots, pictures, etc. will be accepted)

Please Do Not Disturb Development/ Builder Owners. An open house will be offered and scheduled by appointment for final candidates only.

(Navigate the map by clicking and scrolling)

RESOURCES

Learning Library

Program Documents:

The program limits the price you can resell the house for and the amount of equity it can build. You are free to hire an attorney to help you understand the program you contractually agree to participate and follow. Among other requirements and responsibilities, you will be required to complete an annual compliance certification, validating that you as the owner are still occupying the property. Renting the property will breach program requirements disqualifying you from the program. The term of the restriction: TBD

• Covenants, Restrictions, and Option to Purchase

• First Amendments to Covenants, Restrictions and Option to Purchase

• Assumption Agreement Form

State Income Limits for 2023

• https://www.housekeys.org/s/income-limits-2023.pdf

How to get started and prepare a file: https://www.housekeys.org/buyerfile

This program is for households that meet the “first-time home buyer” definition for the program.