Purchase Program

Registration Form – Single Family Home Lottery

INTEREST LIST

There is a random-number drawing (lottery) for 12 Single Family Homes:

1675 California Avenue, Lot 20
2400 Amherst Street, Lot 21
2430 Amherst Street, Lot 24
1620 Amherst Court, Lot 26
1640 Amherst Court, Lot 27
1635 Amherst Court, Lot 29
2520 Amherst Street, Lot 32
2540 Amherst Street, Lot 33
2560 Amherst Street, Lot 34
1655 Amherst Way, Lot 37
1615 Bowdoin Court, Lot 45
2515 Amherst Street, Lot 52

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) and participate in an Open House. Faculty couples with dual eligibility may apply individually. Lottery participants who have reserved a single-family home are not eligible to participate in the lottery. Lottery participants who have reserved a condominium home are eligible to participate in the lottery if they are interested in a larger home. To find out more information, 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.

Open House attendance is required for participation in the Lottery: *

January 2019

Date: Friday January 18, 2019
Time: 12:00 - 2:00pm PST
Date: Wednesday January 23, 2019
Time: 1:00 – 3:00pm PST
Date: Friday January 25, 2019
Time: 2:00 – 4:00pm PST
Date: Tuesday January 29, 2019
Time: 10:30am – 12:30pm PST

February 2019

Date: Friday February 1, 2019
Time: 12:00 - 1:30pm PST

*Also available by appointment

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Last Name
Email
Phone Number
Address
City
Zip Code
Preference:
School-Age Children?:
Are these children currently enrolled in the Palo Alto Unified School District?:
Age
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* All fields are required.

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Direct Sales Programsteps to single family home ownership

View Available Inventory

Roadmap to Single Family Homeownership

Faculty Staff Housing, a division of the Office of the Provost, provides a variety of programs and information to help eligible Stanford Faculty make the transition into a new home as smooth as possible. The University Terrace community has completed the 10-Phased Master Plan and the sale program transitioned from a Lottery Sales Program to a Direct Sales Program. The roadmap below includes all of the pertinent steps necessary to purchase a new single family home at University Terrace.

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Single Family Home Direct Sales Program


Move-In Ready Homes Available on a "First Come First Served" Basis for Eligible Faculty who:


  • Satisfy all of the Eligibility Criteria for the Direct Sale home; and
  • "Submit an Offer" for a home, as outlined below, and
  • "Complete the Purchase" of the home, as outlined below.
1

Submit an Offer.

A prospective buyer must complete a "Purchase Offer Packet", and provide it to the
Purchase Consultants with Informed Delivery, as prescribed below:

The Purchase Offer Packet is comprised of all 3 of the following items:

  • Reservation Form (available here); and
  • Initial Reservation Deposit (a bank check payable to First American Title Company for Fifteen Thousand Dollars ($15,000)); and
  • A letter from a lender or evidence that demonstrates the prospective buyer's ability to purchase the home.
2

The Purchase Offer Packet

First come first serve

The Purchase Offer Packet must be submitted via:

  • Direct Mail: Certified Mail, Carrier with signature, or In-Person with receipt, during regular business hours (Monday-Friday 10:00 am – 5:00 pm) at:
      University Terrace – Sales Office
      2500 Columbia Street #116,
      Palo Alto, California 94304
      Attn: George Garcia and Lauren Baxter
  • Fax to : 1.650.729.0875 sent with:
    • Clear image of the Initial Reservation Deposit; and
    • Cover Sheet containing the following:
      • To: George Garcia and Lauren Baxter
      • Re: “Direct Sales – Purchase Offer Packet (Property Address)
  • Email to : info@theuniversityterrace.com, sent with:
    • Clear image of the Initial Reservation Deposit; and
    • Subject: “SECURE: Direct Sale – Purchase Offer Package (Property Address)”;
    • Secure Email service is designed for faculty and staff who need to use email to send Moderate to High Risk Data. More information regarding Secure Email can be obtained from Stanford University IT. https://uit.stanford.edu/service/secureemail

Incomplete Purchase Offer Packets will not be considered and will be returned. To assure prompt consideration, review all Purchase Offer Packet materials for completeness before submitting them to University Terrace.

3

Notification

  • Prospective buyers will be notified of their Direct Sales status within two (2) business days after receipt of their Purchase Offer Packet, confirming if their Purchase Offer Packet is accepted, incomplete, or complete and in queue.
  • The Direct Sale Listing for a home will close when FSH accepts the first complete Purchase Offer Packet received from Eligible Faculty.
  • Those in queue must request their Initial Reservation Deposit from First American Title Company within (2) business days after being notified of the listing being closed. Those in queue may remain in queue, in the order that their completed Purchase Offer Packet was received, until the Prospective Buyer and FSH “Complete the Purchase.”
4

PURCHASE CONTRACT APPOINTMENT AND COMMUNITY DISCLOSURES

  • Purchase contracts, community disclosures, and other documents will be provided after the notification that your Purchase Offer Packet has been accepted.
  • The contract and disclosure appointment will be scheduled within seven (7) business days after the Purchase Offer Packet has been accepted.
  • The total escrow period may not be less than 30 days and no greater than 60 days.
5

HOME ORIENTATION

  • Purchase Consultants will coordinate the Home Orientation/Walkthrough.
  • The final home walkthrough will be coordinated approximately 5 - 10 days before you close escrow.
6

Lease Appointment

FSH will be coordinating appointments for the lease documents and loan documents if using FSH financing, to be signed one (1) week before you close escrow.

7

Escrow Appointment

The title company will provide an estimated closing statement that includes the amount you need to pay one (1) day before the projected close of escrow.

The funds must be sent via wire transfer or cashier’s check to the title company.

home walkthrough
home walkthrough foot-prints
8

Move In. Welcome Home!

The home is now yours, arrangements will be made for you to pick up your keys.

Move In Welcome Home