Cabrillo-Dolores FAQs

Pricing…how much will the homes cost?

• Sales prices range from $3,125,000 to $3,300,000 on a standard ground lease
• Sales prices range from $2,250,000 to $2,350,000 on a restricted ground lease

What is the size of each home?

• The homes will be approximately 2,200 - 2,900 square feet of living space.

What is the size of each lot?

• Lots will be approximately 6,150 - 11,000 square feet.

How many homes will be available?

• There are seven single-family homes under construction.

What type of Ground Lease will be used for Cabrillo-Dolores homes?

• There will be four homes on a Standard Ground Lease and three homes on a Restricted Ground Lease.
• The three homes along Costanzo Street will be on the Restricted Ground Lease.

When will the homes be ready for sale?

Cabrillo Dolores Listing and Open House Schedule 
(Dates subject to change)

Will the homes be sold via lottery or direct sale?

Direct Sale Process:

This home is being sold via Direct Sale on a “first come first served” basis to Eligible Faculty who:

• Satisfy all of the Eligibility Criteria for this Direct Sale home; and
• “Submit an Offer” for the home, as outlined below, and
• “Complete the Purchase” of the home, as outlined below.

Submit an Offer:

To Submit an Offer, the Prospective Buyer must complete a “Purchase Offer Packet”, and provide it to FSH with Informed Delivery, as prescribed below:

The Purchase Offer Packet is comprised of the following 2 items:

• Deposit Form and
• A pre-approval letter from the FSH loan team that demonstrates the prospective buyer's ability to purchase the home.

The Purchase Offer Packet may be submitted by dropping off at the Faculty Staff Housing (FSH) office: 552 O’Connor Lane, Stanford, CA 94305.

Please note: This home is being sold on a “first come first served” basis. Purchase Offer Packets received prior to the Purchase Offer Submission deadline, will be considered received on the offer deadline date at 8:30 am. If multiple offers are received prior to the deadline or concurrently at 8:30 am, they will be considered by FSH as having been received at the same time and will be subject to a random-number generated drawing (i.e., “Lottery”) to establish a ranking of the Concurrent Buyers. All Concurrent Buyers will be notified if multiple Purchase Offer Packets are received and a lottery drawing is necessary. Offers received after the deadline date and time will not be included in the “lottery drawing” if multiple offers are received.

You can submit a Purchase Offer Packet on multiple direct sale homes running concurrently.

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 FSH.  

Prospective buyers will be notified of their Direct Sale status within two (2) business days after receipt of their Purchase Offer Packet, confirming if their Purchase Offer Packet is accepted, incomplete, complete and in queue, or complete and subject to a random-number generated drawing (i.e., Lottery).  

The Direct Sale listing will close when FSH accepts the first complete Purchase Offer Packet received from Eligible Faculty.

After an offer is accepted, those in a lottery queue may remain in queue, until the Prospective Buyer and FSH “Complete the Purchase.”

Complete the Purchase:

To Complete the Purchase, the Prospective Buyer must successfully close escrow for the purchase of the Direct Sale home, after full loan approval is received and the paperwork is prepared for the title company, in the manner summarized below:

• The Prospective Buyer must sign the Purchase Contract for the home within two (2) business days after FSH has accepted their Purchase Offer Packet.
• Initial deposit to be made within 3 business days after FSH has accepted their Purchase Offer Packet, via wire transfer directly to title company or by a personal check dropped off to the FSH Office: 552 O’Connor Lane, Stanford, CA 94305.
• FSH will immediately place the Initial Deposit Check and Deposit Form in the escrow depository if applicable; and
• The total escrow period must not be less than 30 days and not greater than 60 days.