Registration Form – Second Lottery

INTEREST LIST

There is a second random-number drawing (lottery) for the remaining homes that were not reserved in the first lottery held last year. In order to participate in the lottery, all faculty eligible to purchase a University Terrace home must complete and submit a registration form (interest list application). Faculty couples with dual eligibility may apply individually. Those first lottery participants who have reserved a single-family home are not eligible to participate in the second lottery. Those first lottery participants who have reserved a condominium home are eligible to participate in the second lottery if they are interested in a larger home. To find out what is available, call or visit the Information Center or go to the Interactive Map in The Community section of this website. All participants will be notified after the interest list application has been submitted and will receive a unique identifier. Interest List submissions are neither a guarantee of eligibility nor qualification to purchase. No priority will be given based on the timing of the submission. All entries will be verified by FSH and eligible participants will be notified when their application has been accepted. Applicants may withdraw from consideration prior to the lottery.

Registration for the interest list closed on May 19, 2017. The lottery results will be posted on May 26, 2017. More information regarding the purchase process is available here.

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Purchase Program DISCLOSURES

What is Disclosure?

California law requires that certain information be provided to all homebuyers prior to the completion of a purchase transaction. This information, which must be in writing, is referred to as the disclosure documents. The disclosures cover many aspects of the property and differ by property type. The disclosures are important documents, which should be reviewed carefully by a potential buyer.

Since University Terrace is a new development, Stanford as the developer of the property, will apply for and obtain a Public Report from the California Bureau of Real Estate. This Public Report will contain information regarding utilities, water, roads, soil and geologic conditions, zoning, use, hazards, the lease, and information about the homeowners association, the assessments, the budget, which includes reserves, and the governing documents. In addition to the disclosures, which are specifically required by law, the buyer should receive essential information about the property that could affect the decision to purchase.

There are two additional important documents to review and understand prior to registration for the interest list. They are available here: Restricted Residential Ground Lease and the Environmental Disclosure.

The Public Report and other disclosures will be available at the Information Center.