Home to renowned Stanford University, Stanford has a population of just over 13,000 residents. Stanford is an unincorporated area of Santa Clara County and is situated in the heart of Silicon Valley.
Residents of Stanford live in on-campus housing, including graduate student villages and single-family homes owned by Stanford faculty and staff but located on land leased from Stanford. More specifically, the Office of the Provost offers select Stanford faculty and executive-level staff the opportunity to purchase campus residential properties. Additionally, qualified personnel may avail themselves of other significant housing benefits, such as the Housing Allowance Program (HAP), the Mortgage Assistance Program (MAP) and the Deferred Interest Program (DIP). However, there are very particular rules and qualifications that apply to both the ability to purchase these properties and to participate in the above-mentioned programs. Additionally, a special contract is used and not the standard form contract real estate agents use for most residential transactions.
While these transactions require expertise and experience buyers that qualify may find some great opportunities through this program. We would love to help you understand this process.