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BAAHA Scope of Services Contract Year 2024/25 | Page4 Pleasanton Home Ownership Assistance Program (PHAP) Presale Steps and Requirements BAAHA will employ the following protocols, standards, and guidelines to initiate the process to sell a City’s Below Market Rate PHAP property. Provide the City a Proposed Notice of Transfer (PNOT) – Prior to commencing with the sale of the Property, the PNOT must be completed and signed by all individuals on title and sent back to BAAHA via email and the City via registered mail. The seller must also provide brief cover letter explaining the reason they are interested in selling the Property, and the time frame in which they are trying to execute the sale. Resale Price Analysis and Assignment – Upon receiving and approving the Notice of Intent to Sell, BAAHA will provide the City an analysis to establish the preliminary maximum deed restricted price for the property. The base unadjusted price can be adjusted for differed maintenance and disrepair and for Eligible allowed capital improvements – adjustments will only be made for City approved permitted capital improvements. Property Review – BAAHA will also conduct and require additional inspections and research on the property to assess: • Property Liens and Loans – the owner seller is responsible for paying any liens and/or loans on and secured by the property, even if they exceed the proceeds generated from the sale of the property at its deed restricted price. • Condition of the Property – the property must be in good condition with no deferred maintenance at the time of sale. Any deferred maintenance and/or Section 1 items must be addressed by the seller prior to the sale. Carpets and walls must be in good and clean condition, as well as all appliances that the unit was purchase with should be in good working order. The City will require that the seller provide a certified pest report produced by a licensed inspector to the City prior to commencing the sale of the property. BAAHA will inspect the property prior to placing it on the market. Any repairs referenced and required that are not made will be reflected in a reduction of the assigned deed restricted sales price. Property Outreach and Sales Process Listing Agreement – upon receiving and reviewing the resale price analysis, the seller owner will be able to finalize their decision to pursue the sale of their property. If the sale is pursued, a listing agreement will be compiled between the seller and BAAHA affiliate real estate brokerage agency – Home Quest Realty. Property Sales Activity – BAAHA will be responsible for maintaining and conducting all outreach activity on the property. Such activity must be in accordance with current COVID 19 property sale policies/requirements – as mandated by Local Associations and the Department of Real Estate. Outreach activity will be conducted in line with the City’s strong preference to secure a homebuyer who either lives and/or works in the jurisdictional boundaries of the City. Docusign Envelope ID: 473ECB6B-08F5-49E6-8BF9-53FFB6D72DE6