Lisa Sevajian Group
Case studies · Condo sellers · Massachusetts · Review from 2018
How Do You Sell a 40B Affordable Condo in Massachusetts and Buy Your Next Home?
The quick answer: An owner in Massachusetts sold a 40B affordable condo and bought their next home. A 40B resale comes with extra rules, like a price cap and a monitoring agent. Lisa Sevajian stayed on top of every step. They said she saved them thousands, cut their stress and fought hard for their next home.
You've read your deed rider three times, and you still can't tell what your condo is allowed to sell for.
A 40B condo isn't sold like other homes. There's a price cap, a list of rules and a group that has to sign off.
Miss a step and the sale can stall for weeks. If that makes you want to put the paperwork in a drawer and forget it, you aren't alone.
Here's how one owner in Massachusetts sold their 40B condo and moved on. No names, just their real story from their review.
What was the situation?
An owner in Massachusetts was selling a 40B affordable condo. They also needed to buy their next home.
What's a 40B affordable condo?
Chapter 40B is a Massachusetts law. It helps builders make homes for people who earn less. MassHousing says these units are for households earning less than 80% of the area median income.
The rules live in a deed rider. That's a set of limits filed with your deed. A sample from Mass.gov shows two big ones. You have to tell your monitoring agent and your town in writing before you sell. You also can't sell for more than the maximum resale price.
What made it hard?
For homes it monitors, CHAPA lays out the steps. Your town may get the first chance to buy. That can take 30 days, and sometimes up to 120. You can't start marketing until it's done.
The monitoring agent sets your top price. It uses a formula from your deed rider. Buyers have to qualify by income, and they're often picked by lottery. You don't get to choose your buyer.
There's more. Damage beyond normal wear can lower your price. The closing needs a new deed rider and papers from the monitoring agent. The owner said this kind of sale needs someone on top of it 24/7 to finish on time.
How do I help in a move like this?
First, we read your deed rider together and find out who your monitoring agent is. Every development can be a little different.
Then we build a timeline. It has the town's wait, the buyer approval and the closing papers. That way your next home lines up with the sale.
You get one person watching every date and every form. On the buying side, we write offers that protect you and fight for the home you want.
What happened?
The owner said I handled the sale with ease and did better than every hope they had for their Realtor.
They said I saved them thousands of dollars. They joked that I added five years to their life by cutting their stress. They also said I fought hard to get them into their next home.
“Lisa handled this task with ease and outperformed every expectation we had for our realtor.”
A home seller and buyer in Massachusetts, Realtor.com testimonial, 2018
What does this mean for you?
A 40B sale has more steps than a regular sale, and the dates stack up. You don't need to know every rule. You need someone who reads the deed rider with you and watches every date.
If you've been searching "how do I sell my 40B condo in Massachusetts," start by finding your deed rider and your monitoring agent's name.
Your next move
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About Lisa Sevajian
Buying, Lisa Sevajian makes sure you don't overpay. Selling, she makes sure you don't say yes to too little. Lisa Sevajian is a Realtor with the Lisa Sevajian Group at eXp Realty. The Lisa Sevajian Group is licensed in Massachusetts and New Hampshire. She has guided almost 2,000 families through buying and selling and has ranked in the top 1.5% of over 1.4 million Realtors nationwide, verified by RealTrends. She serves Andover MA, North Andover MA, Amesbury MA, Newburyport MA, Haverhill MA, Methuen MA, Salisbury MA, Boxford MA, Topsfield MA, Georgetown MA, Groveland MA, Tewksbury MA, Wilmington MA, Reading MA, North Reading MA, Middleton MA, Danvers MA, Salem MA, Peabody MA, Windham NH, Salem NH, Londonderry NH, Derry NH, Pelham NH, Plaistow NH, Nashua NH, Manchester NH, Atkinson NH, Hampton NH and Portsmouth NH. Call Lisa Sevajian at 978-457-3406.
Questions people ask
How do I sell a 40B affordable condo in Massachusetts?
Start with your deed rider. Send written notice to your monitoring agent and your town, then wait for your maximum resale price and any town waiting period.
What's a 40B deed rider in Massachusetts?
It's a set of limits recorded with your deed. It caps your resale price and says who can buy your home.
Who sets the price of a 40B condo in Massachusetts?
Your monitoring agent sets the maximum resale price with a formula from your deed rider. You can't sell for more.
Can I pick the buyer for my 40B condo?
No. Buyers have to qualify by income, and they're often chosen by lottery. CHAPA says sellers can't choose the buyer.
How long does it take to sell a 40B condo in Massachusetts?
It takes longer than a regular sale. Your town may have 30 days, and sometimes up to 120, to decide whether to buy first.
Who can buy a 40B affordable home in Massachusetts?
Most often it's a household earning at or below 80% of the area median income. Your deed rider sets the exact limit.
Do I need a Realtor to sell a 40B condo?
It's your choice. CHAPA says hiring an agent is optional, and the monitoring agent still runs its part of the resale.
What fees come with a 40B resale in Massachusetts?
For homes CHAPA monitors, there's a resale fee of 2.5% or less of the maximum resale price, paid at closing.
Can I sell my 40B condo and buy a new home at the same time?
Yes. Build your timeline around the town's waiting period and the buyer approval, then line up your purchase to match.
What happens if no eligible buyer is found for my 40B condo?
CHAPA says the monitoring agent tells you which option applies. Your deed rider decides what you can do next.
Sources
- Realtor.com: client testimonials for Lisa Sevajian (reported)
- MassHousing: Chapter 40B and MassHousing (official)
- Mass.gov: Local Initiative Program sample affordable housing deed rider (official)
- CHAPA: Current 40B homeowners (monitoring agent, reported)
- CHAPA: 40B Resale General Information, January 2026 (monitoring agent, reported)
Client stories are shared without names. Every detail comes from the client's own published review.
This is general information, not legal, tax or lending advice. Every 40B deed rider is different, so check yours with your monitoring agent and your attorney before you decide. 40B facts checked November 3, 2026.
I'll guide you home.
Lisa Sevajian