NSP FAQ
Q

Is there a minimum sales price for reselling an NSP property?

Date Published: October 2012

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A

There is no minimum sales price for reselling an NSP property, but there is a limit to the amount of down payment assistance that can be provided, and the grantee is subject to the cost reasonableness standards under OMB Circular A-87 and A-122, which requires that the grantee pay "reasonable costs." The maximum sales price is the lesser of current appraised value or total development cost.


Tags: NSP Program Requirements - Appraisals and Property Valuation

FAQ ID:

484