Resale on Affordable Dwelling Unit Foreclosure
I am considering a serious run at a foreclosure in a desirable area. When doing my due diligence, I saw that the unit is a designated Affordable Dwelling Unit; however, the 15-year control period has expired. My understanding is that a portion of the resale of an ADU goes back to the county. My question is; if I buy a foreclosed ADU with an expired control period, am I still held to the original ADU restrictions? If I decide to rent after rehab, will the monthly rent be less than market value? If I decide to rehab and sell, will I be responsible for sharing some of the profits with the county?