IV. Resale and Subletting Procedures

As soon as a member decides to sell a GHI unit, the first step is to advise the Contract Processing Department. This will start the resale procedure and enable GHI to prepare the necessary paperwork, thereby preventing any delay in settlement. Packets are available to members upon request which explain in detail the steps in the resales process, plus various techniques for listing and selling homes. A resale inspection of the home will then be arranged, the results of which will be mailed to the member.

All violations of County housing and building codes, WSSC code, and GHI rules and regulations will be cited and must be corrected before a sale can be completed. Also, GHI must have sufficient time to exercise or waive the Corporation's first option to repurchase the unit. (Explained below)

GHI is not responsible for purchasers' loans or for delays caused by other parties outside of its control. All buyers must be approved for membership. Limited assistance is available to those members selling their unit without a realtor. Call GHI for details.

It is extremely important that each prospective purchaser be informed of the Corporation's right of first option to purchase in order to avoid misunderstandings and disappointment to a purchaser. Each member's contract to sell, if it is negotiated before the Corporation has declined its option, must carry the provision that the sale is subject to the condition that the Corporation does not exercise its option.

Members may transfer their interest under the Mutual Ownership Contract by gift or bequest to any person, provided, however, that such person shall not be permitted to occupy the premises without the written approval of GHI. Such person must be approved as a member of GHI before occupying the dwelling or obtaining the Perpetual Use thereof. 

The Mutual Ownership Contract prohibits subletting without GHI's written approval. Approval is generally granted when circumstances require the member to be away from Greenbelt for an extended period of time. The Corporation charges a fee for acting as the member's agent in administering the sublease during the member's absence.