What is the BuyBack Option?
This Option gives you the right to require Cal Poly Pomona Foundation, Inc. to repurchase your home at a price equal to your original purchase price for up to three years. The “Buyback” program has been designed to suit your needs if you anticipate that you may move within the Option period, yet wish to have the advantages of homeownership now. Of course, you would not be required to resell your home to the Foundation under this “Buyback Option.” In addition, you could at any time elect to sell your home under the normal resale procedures that apply to all homes in this community. Refer to the Buyback Agreement for term and conditions, including option fee in year 2 and 3.
