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Section 8 Voucher

By
Real Estate Agent with Keller Williams

Hello Fellow Realtors:

I am in need of your assistance in explaining Section 8 Housing Vouchers.  I have a potential client wanting to purchase a home.  He has a Section 8 housing voucher for a three bedroom house.  Now, this is a first for me and I need to know what would be the best avenue to follow.  California's East Bay doesn't exactly have a lot of lower cost homes since our average home sales is approximately $550k depending on the city. 

I would love to help this family, would love to become more knowledge on this subject, and love to make a sale.  If any of my fellow Realtors could provide me with some insight, I would really be appreciative.

2008 is going to be great.

Arlene

Show All Comments Sort:
Erica Crowell
eRealty Inc. - Wake Forest, NC
They want to rent or purchase?  Here in NC I only know that Sec 8 works for renters. 
Jan 24, 2008 08:48 AM
Arlene Cristobal
Keller Williams - Danville, CA
The client is under the "Homeownership Voucher Program"  This is for first time home buyers and has specific guidelines that I am still trying to read up on.  Thanks, Arlene
Jan 24, 2008 09:02 AM
Anonymous
Victoria
I'm currently divorced and I am section 8.  This is a government regulated program provided by the metropolitan housing authority in every city.  They assist low income elgible receipents by paying rent, or percentage of rent, passed on household income- to land owners or real estate companies.  A lot of real estate companies and landlord participate because it is a guaranteed check.  There are stipulations.  Your property has to be inspected and approved before a tenant can rent.  Every housing authority will pay so much for so many bedrooms.  Property owners can have there own rules and stipulation in relation to deposits etc.  If approved and rent is agreeable to section 8 then tenant is allowed to move in.  Even after the tenants move in section 8 still has yearly inspections to insure both the tenant and the land owner is keeping the property in proper maintenance.  You usually can find info on this program if you put in yahoo search window your state and metroplitan housing authority next to it or even your state section 8 program.  I hope this is helpful
Jan 24, 2008 10:43 AM
#3
Anonymous
Arlene Cristobal

Thank you Victoria:  This was a tremendous help.  I did search and found alot more information.

Thank you again, Arlene Cristobal

Jan 24, 2008 03:13 PM
#4
Bonita Malone
Better Homes and Gardens Mason-McDuffie Real Estate - Sacramento, CA
GRI, SFR, CDPE

Were you able to get your clients into a house? If so, how long did it take? I have clients who are going through the program in Richmond, CA  and they are the 1st ones for the city. I would appreciate any feedback on your experience.

Sep 18, 2008 02:34 AM