Homeownership

Goldfarb & Lipman has worked extensively on affordable homeownership programs and developments.  We assist clients in the creation, design, and documentation of numerous first time homebuyer programs, funded from various sources including CDBG funds, HOME funds, funds from HCD programs such as CalHome, BEGIN, Joe Serna, and local housing trust funds.  We help clients meet the requirements of these funding programs as well as the requirements of first mortgage lenders, mortgage insurers, and secondary mortgage markets, including CalHFA, FHA, Fannie Mae, and Freddie Mac.  Our clients also turn to us for legal advice in connection with the sales of individual homes and the enforcement of affordability covenants and on-going administration of affordable homebuyer programs.

 

In our representation of cities and counties, we draft and negotiate land disposition, predevelopment, construction loan, and grant documents for public agency assistance for homebuyer projects, as well as resale restrictions and shared appreciation loan documents used when assistance is provided to homebuying households.

 

Our work with our nonprofit developer clients involves advising on the subdivision and land use entitlement process for homeownership projects, drafting and negotiating deed or resale restrictions and second mortgage documents, establishing homeowners’ associations, drafting conditions, covenants, and restrictions (CC&Rs), sales agreements, warranties, disclosures and deed restrictions to comply with SB 800 (construction defects), and shepherding projects and documents through the California Department of Real Estate (DRE) public report process.

 

For both local governments and housing developers, we provide advice on fair housing issues arising in the homeownership context such as local preferences, eligibility criteria, and minimum and maximum occupancy standards.