Submitted by yuyue on Mon, 08/24/2009 - 13:09
Posted in
Can a 40b house go to the free market when selling it? I am planning to buy a condo. In this new community, there are 25% 40b. I am wondering if it will significantly impact the value. Thanks a lot.
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Editor's Response
Not sure if you are talking about buying a Chapter 40B home or just buying a unit in a development that has 40B units. When a person buys a home that is developed under the Chapter 40B program, they take the property with a deed restriction that limits how the house can be sold and for what price. These deed restriction usually last at least 30 years. Presumably, when the deed restriction expires, the house can be sold for true market value.
If you are asking me if having Chapter 40B units in the development in which you buy will negatively impact the value of your unit, I have no idea. A good real estate agent should be able to offer a theory based on comparable sales in the community. Good luck.