Selling Your Home
Steps to Sell
If and when you decide to sell your equity interest in and right to occupy your unit you should ask the GHI office or a local realtor for GHI's resale packet of information. This packet contains all of the information and forms you will need to sell your unit.
There are two parts to every GHI home sale. GHI does not find a buyer or perform the services of a realtor for you. You must decide if you wish to find a buyer on your own or work with a realtor. GHI's role is to inspect your house to see that it meets GHI and housing code standards. GHI also processes the application of your future buyer and prepares the paperwork for Board review.
- Review the resale inspection requirements to be aware of the assessment criteria.
- Submit the 'Intent to Sell' form to GHI staff at the GHI offices at Hamilton Place. Upon receiving the 'Intent to Sell' paperwork, GHI determines if the two-year profit limitation applies to you and decides whether to exercise its first option to purchase your occupancy rights. (Submitting the 'Intent to Sell' form will trigger the resale inspection performed by the Technical Services Department.)
- After the home inspection you receive an inspection report. Along with the inspection report, you receive a certification form, which you will return to GHI when you have made the required corrections.
- GHI performs a final certification inspection to verify that you have made all corrections and GHI notes any other items that must be addressed. There is no fee for this service; however, if you don't make corrections and another certification is required, GHI may charge fifty dollars ($50) for each additional certification inspection beyond the first inspection.
Note: If the initial resale inspection is more than six (6) months old, you must have GHI do another inspection at the time of settlement. NO SETTLEMENTS CAN OCCUR UNLESS TECHNICAL SERVICES CHECKS THAT ALL REPAIRS HAVE BEEN MADE.
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