Oxford Homes, Inc.

GENERAL INFORMATION REGARDING SALES PROCEDURE

SELLER INFORMATION

  1. Selling Member must complete and file with the Oxford Homes Office a NOTICE OF INTENT TO SELL form.
  2. It is the responsibility of the selling Member to find a Buyer.
  3. The selling Member is to provide a copy of the GENERAL INFORMATION form for prospective Member to any real estate listing agent, if listing the Membership and occupancy rights for sale; or provide the form to a prospective Buyer, if the sale and transfer of Membership is being handled directly by the Seller.
  4. When a prospective Buyer is found and before the sale closes, the prospective Buyer must schedule with Management for an interview to complete a CREDIT APPLICATION and BACKGROUND CHECK AUTHORIZATION at the Buyer’s expense.
  5. Prospective Buyer will be provided with copies of all pertinent information and documents preparatory to meeting with the Board of Directors for an interview, at which time the OCCUPANCY AGREEMENT, BYLAWS and RULES & REGULATIONS will be discussed, and the Buyer will either be approved or rejected. Rejections would not be without just and reasonable cause.
  6. Management to provide to Buyer a roster of the Board of Directors and advise the Board President of the name(s) of the prospective Member(s) and the tentative date of closing or transfer.
  7. Buyers to be advised that there is a $250.00 Orientation Fee.
  8. Buyers will be advised of the limited pet policy (assistive animals exempt).
  9. Buyers will be advised during interview with the Board of Directors if approved, and Management will be given authorization to proceed with the transfer.
  10. When sales transaction Certificate is finalized between the Buyer and the Seller, the Seller must assign the Certificate to the Buyer. The properly assigned Certificate must be presented to the Oxford Homes Office, together with the $250.00 Orientation Fee before the issuance of a new Certificate.
  11. Upon assignment of Certificate to new Member(s), the new Member(s) is/are to complete all documents and payment of any and all funds due the Co-Op with the Oxford Homes Office.
  12. Thirty (30) days after conclusion of the sales transaction, if there are no deficiencies in the selling unit chargeable to the Seller or outstanding charges due the Corporation by the Seller, any damage deposit owing to the selling Member will be refunded (a forwarding address for the selling Member must be on file with management).
  13. Selling Member(s) are responsible for providing laundry room and pool gate keys to the Buyer. Keys issued by the Co-Op require a non-refundable fee for pool gate, and laundry room.