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Is there any additional or specific paperwork required for a home with a HERO assessment that should be considered in the buying/selling process?

No, there is no additional or specific paperwork required in order to facilitate the buying or selling of a home with a HERO assessment.

Are there any fees to consider in the transfer of a HERO assessment on a listing?

No, there are no fees associated with the transfer of a HERO assessment for the homeowner, buyer, or agent.

Do buyers purchasing a home with a HERO assessment need to qualify or reapply for HERO financing?

The potential buyer of a home with a HERO assessment does not need to qualify or reapply for HERO. When a HERO tax assessment is transferred to new owners, it does so automatically with the sale of the property.

If a homeowner decides to pay off the HERO assessment at close of escrow, are there fees to consider

No, there are no prepayment penalties associated with the HERO Program, regardless of the HERO assessment date. However, given that HERO Assessments are paid through property taxes at specified intervals, the homeowner may have interest payments due until the next tax...

How do I find out if a current or new listing has a HERO assessment?

To find out if a listing has a HERO assessment, first ask the listing agent. If the property is not listed with a licensed real estate agent, you may contact the seller of the property and ask if they have selected HERO to finance property improvements. At the time...
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