ARCH Homeownership Program Policies
As ARCH homeowners, you agree to abide by ARCH program requirements on the use of your home. The information below contains important ARCH policies for current and future ARCH homeowners. If you have further questions, please contact Homeownership staff at homeownership@bellevuewa.gov
Resale Restriction Covenant / Leasing / Property Maintenance / Improvement / Refinancing / Selling
Resale Restriction Covenant
To purchase a price-restricted home through our program, ARCH homeowners agree to sign and record a document (“Covenant Restricting Resale and Option to Purchase and Assignment of Rents”) at closing. This document restricts the future resale price of the home, and establishes eligibility of future buyers. The covenant also contains other important information on ARCH program requirements
View the Summary of Important Resale Covenant Provisions in other languages:
简体中文 / 繁體中文 / 日語/ 한국어 / Русский / español / Tiếng Việt
*Please note that some homeowners have slightly different versions of the Resale Covenant. To obtain a copy of the resale covenant pertaining to your property, you can find it via King County Recorder’s Office or call the ARCH office.
Leasing Policy
ARCH homes are intended for owner occupancy. Owners shall not rent or lease the property without prior written approval from ARCH. ARCH may approve renting or leasing the property for up to 12-month period based on hardship situations outlined in the covenant. During the approved rental period, owners may not charge more than the ARCH affordable rent. If you believe you meet the hardship criteria and would like to rent out your ARCH home temporarily, please submit the following to the ARCH office:
A clear written plan for selling or reoccupying the home after the approved rental period
Property Maintenance
ARCH homeowners must maintain their home in good condition. Deferred maintenance may cause the maximum resale price to be reduced. An inspection by a licensed inspector will identify needed repairs at the time of sale.
Improvement Policy
What types of improvements are eligible for a resale price increase?
The ARCH covenant allows for an owner to request a credit to their resale price for certain system replacements. All requests must be approved by ARCH prior to the work being performed. In general, the list of eligible repairs is limited to: replacement or upgrade of essential heating, plumbing, or electrical systems, and the addition of finished bedrooms that increase the potential occupancy size of the home. The value of such improvements will be depreciated based on the life of the improvement. The approved value of improvements shall not cause the adjusted Formula Value to be unaffordable to subsequent eligible buyer households.
Please note, no credit will be issued for appliances, flooring, cosmetic upgrades or items not mentioned above. If you would like to request improvement credit, please read the below description for details and submit an application to the ARCH office:
Refinancing Your ARCH Home
When refinancing your property, make sure the total amount of your new loan does not exceed the maximum restricted resale price. Your covenant requires that you contact ARCH to determine the value of your home and for approval.