Right to Buy Procedure

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1 Right to Buy Procedure STEP 1: Applying to buy A tenants first step is to ask us for the Right to Buy claim form (Form RTB 1). Forms must be issued within 5 working days. The tenant will need to complete and return the form. Tenants should be informed that the RTB 1 is an important document and they should keep a copy. STEP 2: Our Response The next step is for us to reply, informing the tenant whether or not they have the Right to buy (Staff must use the Right to Buy Decision Making Checklist) to determine if the application is accepted or rejected (this information should be provided using the RTB 2 form). This form must be provided within 4 weeks of receiving the completed RTB 1 form (or within 8 weeks if the tenant has been with the Association for less than 5 years). If we decide the tenant does not have the Right to Buy their home, we must write to the tenant and explain the reasons (following the timescales above). N.B. If a tenant lives in a Flat or Maisonnette, we need to arrange for a valuation as we have to notify tenants of any structural defects. A survey should be arranged within 10 working days of issuing the RTB 2 Form. Where we have concluded that a tenant has the Right to Buy we must seek a valuation of the property (Contact Ingram Evans Mark Williams Tel: @ marc@ingramevanscare.co.uk. This valuation should be obtained prior to issuing the RTB 2 Form.

2 STEP 3: Section 125 Notice If we agreed to sell the home we must send the tenant a separate offer notice (known as the Section 125 Notice). This document informs the tenant of the price they have to pay and the terms and conditions of the sale. Specific issues such as rights of way will be attended to by our Solicitors. Any site service charge, general repairs reserve or related site cost will be clarified in advance and provided in the Section 125 Notice. We must send this within a further 8 weeks after the tenant has received their RTB 2 form if their home is a house and they are buying a freehold, or within 12 weeks if the home is a flat or maisonette. If they are buying a house on leasehold terms, the time limit is also 12 weeks. N.B Tenants may appeal against our valuation within three months of receipt of the section 125 notice. The appeal will usually come to us first but then must be sent to the district valuer who may revalue their home. They will have to accept the District Valuer s valuation even if it is higher than ours, or withdraw their application. If a tenant disagrees with any other information contained within the Section 125 notice (e.g. size of discount, conditions of sale), they have the right to go to the County Court for a ruling. STEP 4: Property Purchase The tenants may contact us at this stage to decide if they want to: buy their home outright for the purchase price. forget about buying, withdraw their application, and carry on paying rent. If the tenant wants to go ahead with the purchase they must:

3 Inform our Solicitors in writing of their their decision within 12 weeks of receiving their Section 125 notice. Appoint a legal representative to work on their behalf. If they require a survey, arrange for this to be carried out at their expense. Arrange a mortgage, if they need one, with a building society or bank. Once they have obtained a mortgage offer they can tell us that they are ready to take the next step. We may be contacted by their legal representative to deal with any other outstanding points. If a tenant does not need a mortgage, they just need to tell us that they have enough money in savings to buy their home. If tenants have asked to have their house valued by the District Valuer. They must inform us in writing what they want to do within 12 weeks of getting that valuation. Alternatively if the tenant meets the criteria to request a review of the district valuer's determination this must been done within 28 days of getting the determination. If tenants do not inform us what they intend to do in time, we should: Send a reminder. If the tenant does not reply within 28 days we can assume the tenant does not want to buy, and the application will not be dealt with any further. Tenants must request an extension from us providing valid reasons for the need of an extension. STEP 5: Instruct Solicitors Upon receipt of the details concerning the mortgage offer instruct our solicitors (Hugh James contact Margaret Maylin Tel: margaret.maylin@hughjames.com) If more information is needed from the tenant, we should inform them or their legal representative.

4 STEP 6: Completing Once we have checked the tenants details, the purchase can proceed. The tenants solicitor or licensed conveyancer will deal with the legal requirements necessary for the purchase and should keep them informed. Tenants are expected to complete the purchase within three months of receiving their section 125 notice. If they fail to complete within this time period, Hugh James can serve a first notice giving them a reasonable time (not less than 56 days) to complete. If they do not complete within this time, Hugh James can serve a final notice, giving them a further reasonable period (not less than 56 days) to complete. If they do not complete within the time given in the final notice, we will consider the application to be withdrawn. Further advice - For information on mortgages and insurance, we should instruct tenants to seek their own independent advice as well as asking banks, building and insurance companies about their products. Delays or problems with the sale If we fail to send the tenant the Form RTB 2 (the notice telling them if they have the Right to Buy) or the Section 125 notice (offer notice) within the times stated. The tenant may be allowed a reduction in the purchase price. To get this reduction, the tenant needs to fill in an initial notice of delay (Form RTB 6) and send it to us. They must give us landlord at least one month to take the next step in the sale process. We can send a counter notice if we have already served the tenant with a Response Notice or a Section 125 Notice, or if there is no action that can be taken by us to speed up the sale. If we don t send the tenant a counter notice within the time allowed, the tenant can send us an operative notice of delay (Form RTB 8).

5 The rent a tenant pays while the delay goes on will then be taken off the price they have to pay for their home. If we delay the sale again, the tenant can repeat this procedure. Further advice For information on mortgages and insurance, we should instruct tenants to seek their own independent advice as well as asking banks, building and insurance companies about their products.

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