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From the Forum – Anyone have experience with IZU buying? I shouldn’t get my hopes up…right?

by Prince Of Petworth October 14, 2014 at 2:10 pm 10 Comments

Inclusionary Zoning Unit-Experience/Advice?:

“I applied for the housing lottery a while back and recently got a notification that I was one of the selectees chosen to purchase a unit in a new condo building. I’m not sure how many other people got the same notification, but I was obviously pretty excited that I might be able to own a condo for an affordable price. I have been told that other selectees and I will need to submit letters of interest, approval letters from lenders, and documents to verify our lower-income status.

My question is…what are the odds and how exactly does DCHD choose the individual who gets to purchase and inhabit the unit? I am confident in my ability to get a mortgage approval-but I haven’t lived in the city very long. My tax statements still use a previous address, in fact.

Anyone have experience with IZU buying? I shouldn’t get my hopes up…right?”

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