Home > New Faculty Housing > Direct Sales > 757 College Avenue, Palo Alto

FSH Direct Sale
Sale 21: 757 College Avenue, Palo Alto

Direct Sale Information

• 9/30/20: Listed for sale (1:00 pm)
• 9/30/20 - 10/14/20: House Tours (by appointment only)
• 10/15/20: Purchase Offer Packet submission period begins

• Are members of the Academic Council who have a 100% Academic Council appointment and are working 100% time; and
• Have an appointment, that has been approved by the President, for a term of three or more years with the possibility of reappointment, or have received tenure, or have an appointment with continuing term; and
• Have attended a private tour for the Direct Sale home prior to submitting the Purchase Offer Packet; and
• Do not have a deposit or contract on a FSH lottery or FSH Direct Sale single-family home.
• Please note: dual eligible couples will be considered as one purchase offer packet entry if both are on the same pre-qualifying letter and are purchasing the house together.

This direct sale is comprised of 1 single-family home located in the College Terrace Neighborhood in Palo Alto.

This home is subject to a Restricted Residential Ground Lease, and Stanford is selling this leasehold interest through the FSH Direct Sale Process.

This home is being sold “AS-IS”.

All homes located on Stanford lands are subject to a ground lease. Not all ground leases are the same.

This home is subject to the Stanford “Restricted Residential Ground Lease” (Restricted Ground Lease). The Restricted Lease program is designed to help address the challenge of finding affordable housing at Stanford and in surrounding cities. By restricting certain rights of lessees, the University is able to offer long-term leasehold interests at significantly less than the cost of either a conventional leasehold interest or fee ownership of an otherwise comparable home.

Information regarding the Restricted Ground Lease is available for reference here.

• Satisfy all of the Eligibility Criteria for this Direct Sale home; and
• “Submit an Offer” for the home, as outlined below, and
• “Complete the Purchase” of the home, as outlined below.

• Deposit Form (available here); and
• Initial Deposit Check (a bank deposit check payable to First American Title Company for Fifteen Thousand Dollars ($15,000)); and
• A letter from a lender or evidence that demonstrates the prospective buyer's ability to purchase the home.

• Email: to FSHListings@stanford.edu, sent with:
  
  
  • Clear image of the Initial Deposit Check; and
  • Subject: "SECURE: Direct Sale – Purchase Offer Packet (Property Address)”;
    • Secure Email service is designed for faculty who need to use email to send Moderate to High Risk Data. More information regarding Secure Email can be obtained from Stanford University IT
      (https://uit.stanford.edu/service/secureemail)
      
      

• FSH will immediately place the Initial Deposit Check in the escrow depository; and
• The Prospective Buyer must sign the Purchase Contract for the home within two (2) business days after FSH has accepted their Purchase Offer Packet.
• The total escrow period may not be less than 30 days and no greater than 60 days.

You can schedule a house tour by sending an email to: fshlistings@stanford.edu or by calling 650-725-6893.

Listing Information

College Terrace is a highly sought-after neighborhood in the City of Palo Alto. The neighborhood is located blocks from Stanford University, in a 2 block by 12 block area that lies between South California Avenue and Stanford Avenue, from Amherst Street to El Camino Real. All of the street names in the neighborhood are named after East Coast colleges and universities. The homes in the neighborhood are known for their eclectic nature.

757 College Avenue, located in the College Terrace neighborhood of Palo Alto, is a brand new one-story single-family home built in 2020. This contemporary style home offers an open floor plan and the convenience of indoor/outdoor living. The property features a 1-car detached garage, a covered front porch, a rear concrete patio, central air, hardwood floors, recessed lighting, stone slab kitchen and bathroom counters, ceiling fans, natural light, modern finishes and more.

Frequently Asked Questions (FAQs)

Answers to FAQs regarding the home and FSH Direct Sales are available here.

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