This policy sets how we intend to sell the 4 market sale, two bedroom apartments at Bourne Green. 

 

Background 

As a community led project ‘by the community for the community’ we would like to offer local residents the first opportunity to buy these homes.  

In order to do this, we will initially open them up to offers at the asking price, to people with a local connection who are able to proceed with a purchase immediately after having their offer accepted. 

This priority will be made available for 2 weeks from the date of opening this offer.  After this time the properties will be offered on the open market through an Estate Agent.

  

Sales Details can be viewed here.

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1. What do we mean by being able to proceed? 

Interested buyers will need to evidence that they either

 

• Have funds available to purchase the property.

• Have a current property on the market which is under offer.

• Have a mortgage offer ‘in principle’ from a bank or building society and access to a deposit to meet the mortgage requirements 

• Other interested people not in this position can still express an interest but will not have their offer accepted until they can demonstrate their ability to proceed.

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2. What do we mean by having a local connection? 

Proceedable buyers will be prioritised by having a local connection to the Parish of Hook Norton. This is defined as follows :

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1. The person was born to parents residing in Hook Norton or lived in the Parish as a child up to the age of 16. Parents residing in Hook Norton refers to the parent’s address at the time of birth (as detailed on the birth certificate).

2. The person normally resides in Hook Norton and has done so for a continuous period of at least 3 years. Normally resides means currently residing as the person’s main or principal home. 

3. The person has immediate family who are currently resident in Hook Norton and have been so for at least 15 years. Immediate family is defined as parents or children.

4. Hook Norton is the person’s permanent place of work. 

5. People who have an essential need through age or disability to live close to those who have lived in Hook Norton for at least the last three years. 

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People with a local connection to the surrounding villages of Sibford, Wiggington, Milcombe, Swerford, Great Rollright, and Whichford can an express interest at this stage and offers will be considered if the properties are not sold to people with a Hook Norton local connection.

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Following the two-week local offer the properties will be advertised through an estate agent but if possible we will still give priority to people with a local connection. 

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3. Other considerations

The site will be managed by a residents led management company which has been established as Bourne Green Management Company Limited. We require that leaseholders become members of this company which will give you voting rights and the opportunity to become a Director of the company. A summary of the key responsibilities of the management company can be found here. Copies of the Articles for this company can be requested if an offer is accepted. 

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How to make an offer 

Complete and return the Expression of Interest Form.

1. We will contact you to discuss your position and if agreed, to arrange to view the homes. We will need to see evidence of your ability to finance the purchase and your local connection. Please note the homes are currently still under construction. We will need to make arrangements with the contractors to be able to view the properties.

2. If you wish to proceed with an offer, we will ask for a £1000 deposit. This will be returnable less any expenses we have made in relation to the sale if the sale does not proceed. 

3. You will appoint a solicitor and we will start the sales process. 

4. We will keep you updated on progress with the construction during the process. 

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