FACULTY STAFF HOUSING DEVELOPMENT

 


Home > New Faculty Housing > Direct Sales > Stanford: 678 Mirada Avenue

Frequently Asked Questions

Direct Sale - Stanford: 678 Mirada Avenue

  1. Who is eligible to purchase the leasehold interest at 678 Mirada Avenue?
  2. If I currently have a reservation or a contract on a single-family home in another FSH Housing Lottery, am I eligible to participate in this direct sale?
  3. Do I have to attend the scheduled open house or private tour in order to be eligible?
  4. How can I purchase the leasehold interest in this Direct Sale Home?
  5. Can I use a realtor?
  6. How is the purchase price determined?
  7. If I own a condominium do I have to sell it?
  8. Does Stanford have building guidelines for the homes on campus?
  9. Is there a Homeowner Association (HOA)?
  10. Is the lessee responsible for any portion of the property taxes?
  11. Will this lot be charged ground rent?
  12. Is this lot part of SCRL (Stanford Campus Residential Leaseholders)?
  13. Is there a home warranty and customer service program available?
  14. Where can I get more information about the University's housing assistance programs and the purchase process?
  15. Why are the measurements estimates?
  16. Who are the utility service providers to the lot?
  17. Do I have to subscribe to PSSI for garbage collection?
  1. Who is eligible to purchase the leasehold interest at 678 Mirada Avenue?
    The home is for purchase only by eligible faculty. See the Eligibility Criteria here.
  2. If I currently have a reservation or a contract on a single-family home in another FSH Housing Lottery or Direct Sale Home, am I eligible to participate in this Direct Sale?
    No. If you currently have a reservation or contract on a single-family home in another FSH Housing Lottery, you would need to withdraw from that lottery to be eligible. This rule does not apply to participants who have a reservation or a contract on a condominium home in another FSH Housing Lottery or Direct Sale Home.
  3. Do I have to attend the scheduled open house or private tour in order to be eligible?
    Yes.
  4. How can I purchase the leasehold interest in this Direct Sale Home?
    This home is being sold via Direct Sale on a “first come first served” basis, to Eligible Faculty who “Submit an Offer; that is accepted, and “Complete the Purchase” as described in the Direct Sale process section of the website for the Direct Sale of this home.
  5. Can I use a realtor?
    Yes, you can use a realtor. However, an agent is not required and the University will not pay a real estate commission.
  6. How is the purchase price determined?
    The price for the home is based upon an appraisal. The price of the home reflects comparable home prices available in the marketplace.
  7. If I own a condominium do I have to sell it?
    No. However, this home must be the Lessee’s principal place of residence. Additionally, an Eligible Person may use the University’s housing purchase programs for only one property at a time.

    If the condominium must be sold to meet the underwriting requirements:
    1. The condominium must be listed for sale within 30 days of the new home selection;
    2. The condominium must be under contract/in escrow within 90 days of the new home selection; and
    3. The condominium must close escrow before the new home purchase has closed escrow.
  8. Does Stanford have building guidelines for the homes on campus?
    Yes, any home constructed on this lot must conform to the Stanford University Residential Subdivision Building Regulations.
  9. Is there a Homeowner Association (HOA)?
    No. There is no homeowner association, but all campus residents are members of SCRL (Stanford Campus Residential Leaseholders).
  10. Is the lessee responsible for any portion of the property taxes?
    Yes. Lessee is responsible for 100% of all property taxes. The County Assessor determines the value on which the taxes, fees and assessments are charged. Current information is that the fair market value (not the purchase price) will be the basis for property taxes.
  11. Will this lot be charged ground rent?
    Yes, all homes located within the residential subdivisions on the Stanford Campus pay a monthly ground rent.
  12. Is this lot part of SCRL (Stanford Campus Residential Leaseholders)?
    Yes, lessees on campus are members of SCRL. See the SCRL website for more information.
  13. Is there a home warranty and customer service program available?
    Yes. The home in this Direct Sale is sold “as-is” in its present condition. However, copies of a seller purchased limited home warranty will be available for review prior to any purchase. California law requires that certain information be provided to all home buyers prior to the completion of the purchase transaction. This information, which must be in writing, is referred to as the disclosure documents. The disclosures cover many aspects of the property and differ by property type. The disclosures are important documents, which should be reviewed carefully by a potential buyer. Direct Sale participants will have access to documentation regarding property condition.
  14. Where can I get more information about the University's housing assistance programs and the purchase process?
    Visit the Faculty Staff Housing website for information regarding the University's housing programs.
  15. Why are the measurements estimates?
    The area measurements that are contained in any documentation provided by the University are estimates only. They were not actual measurements, but derived from appraisals, plans, and other documents relied upon by the University. The actual measurements may differ. Varying methods of measurement may have been used. Buyer should not rely on any of these estimates in making a decision to buy the property.
  16. Who are the utility service providers to the lot?
    Domestic water is provided by Stanford University. The Sanitary Sewer ultimately flows to the City of Palo Alto Municipal Wastewater Treatment Plant. Electric and gas service is provided by PG&E. Communications and data connections are available through outside vendors such as Comcast and AT&T. Garbage collection and recycling services are provided by Peninsula Sanitary Service, Inc. (PSSI).
  17. Do I have to subscribe to PSSI for garbage collection?
    Yes. All residents of Santa Clara County are required by ordinance to subscribe to a provider of refuse collection and recycling services with a minimum of one pickup per week. Dumping in any other container is illegal. Please visit PSSI's website at recycling.stanford.edu and go to the Faculty Staff Housing section.


(top of page)

Important Notice
Nothing on this site or in the documents it contains should be construed as an offer or commitment of any kind. Programs and eligibility requirements can be changed or discontinued without notice.


 
Stanford Home

Contact |   Directions | PRIVACY POLICY |   FSH Terms of Use