HomeStrong USA's Community Stabilization Requirements


Acceptable property types are as follows:
 
  • SFR
  • Townhome
  • Condos
  • 1-4 units
Currently we are accepting homes in the range of:

$50,000 – $300,000
Any Condition, Any Year Built

HomeStrong USA, a 501(c)(3) nonprofit community development organization has issued an RFP seeking California Licensed Real Estate Brokers and Agents, as well as Asset Managers, to acquire single family REO properties for the HomeStrong USA Community Stabilization Program (CSP). HomeStrong USA has extensive experience in the acquisition, rehab, and resale of vacant and abandoned homes. Properties that require substantial repairs have been and will continue to be highest priority as these projects will leave the greatest impact in the community. HomeStrong USA has developed a set of high-level rehabilitation guidelines and works closely with local city inspectors and local partners to continually establish expectations of repairs and improvements to the homes. Rehabilitation always begins with a focus on addressing health and safety issues

All properties are exclusively made available and sold to owner-occupied, low-to-moderate income families. Since no investors are allowed to purchase HomeStrong USA properties, HomeStrong USA is creating an inventory of properties dedicated to low-to-moderate income buyers in which competing with investors is not an obstacle.

HomeStrong USA will enter into a purchase agreements with qualified brokers and agents in order to acquire the residential properties. The services provided by participating Real Estate Agents and Brokers are  assisting HomeStrong USA in the acquisition  of residential properties within selected areas of California. All participating Brokers must have a current California Brokers or Real Estate Sales License in good standing with the State of California Department of Real Estate.


Property Evaluation Process

We will complete a property evaluation within 24 hours or soonner  of submission. Upon approval an Offer Worksheet will be provided to the preferred agent outlining the offer terms for preferred agent to submit.

Typical Offer Terms

  1. Offer Type: Cash Offer – (No Hard Money, No last minute switch)
  2. Deposit:  10% of purchase price
  3. No Termite
  4. No Appraisal contingency
  5. 1 day Inspection Contingency Period
  6. Buyers to remove all contingencies 1 day from receipt of Prelim and Seller disclosures
  7. 10 Day escrow or sooner