Option 1: Immediately Purchase One of the Units Available on a First-Come, First-Served Basis You should check The Inventory immediately to see if any homes are currently being sold on a first-come, first-served basis. Any home that every household on the Unit Selection Lists has already been given an opportunity to purchase and has declined is then made available on a first-come, first-served basis. If there are homes available on a first-come, first-served basis, you can call Damian KokEnnen immediately (508.922.6864) if you have not already been in touch with him. You can also email Damian at dkokennen@aol.com He is a local realtor working with SEB and he can show you the available properties. If you are interested in purchasing a unit upon seeing it, Damian can give you a Purchase and Sale Agreement to sign. You will need to sign the Purchase and Sale Agreement as soon as possible as there may be other households interested in the unit and until you sign the Purchase and Sale Agreement, the home will remain available. You can find the steps you need to follow in signing a P&S Agreement in the attachment: Final Steps to Signing a Purchase and Sale Agreement for a Unit Available First-Come First Served. Option 2: Wait For More Units To Be Added to the Inventory in the Near Future Affordable homes will be added to the inventory over the next year. Each home in the inventory will have at least one open house. When a home is added to the inventory, information on the open house will be posted along with it. Households near the top of each of the Unit Selection Lists will also be given the contact information for a local broker that can arrange showings. Between open houses and scheduled showings, all households near the top of the lists will have been given opportunities to see the affordable homes before they reach the top position on a list and are put "on the clock". When homes are added to the Inventory, we will notify the top households on each list that they are "on the clock". They will then have 7 days to decide on whether or not to buy one of the units in the inventory by signing a Purchase and Sale (P&S) Agreement. If they sign a P&S Agreement, they will have to close on the unit in approximately 45 days. More details will be given as needed. We understand that applicants would like a specific time frame as to when they will be shown a unit but it is impossible to know at this point. Households cannot move up each list until the household at the top of the list declines a unit in the inventory or buys a unit in the inventory. As units will be coming into the inventory over the next couple of months, the best thing you can do is check the website weekly. The Unit Selection Lists will be continuously updated on our website (www.s-e-b.com/lottery). Please check our website or call 617.782.2300 x 204 for updates. How the Unit Selection Lists "Work" Initial Positions There are 3 Unit Selection Lists, one for each unit size (e.g. 1BR, 2BR or 3BR). The positions on each Unit Selection List were originally assigned through the Lottery on November 13th, 2007. After the Lottery, The Lottery Agent is continuing to accept new applications from households not entered into the Lottery. These new households will also receive Application Numbers. These Application Numbers will be added to the bottom of each Unit Selection List for which they are eligible. This means that every household in the lottery will have an initial position on the Unit Selection Lists higher than every household that applied after the lottery cut-off date regardless of household size. Example: If a three person household applies for a 2BR unit after the lottery, they will be placed on the bottom of Unit Selection List #2 behind every household applying for a 2BR unit that was in the lottery, including households that have only one or two person households. The Inventory All households on the Unit Selection Lists should frequently check the SEB website for updates on the inventory of affordable homes. The inventory database will have information on the prices, sizes, locations and open houses for all homes being offered through this Lottery. Households near the top of the Unit Selection Lists will also be sent contact information for a local broker so they can set up individual showings. In this way, a household should be able to make an informed decision on whether or not they want to buy one of the homes before they are put "on the clock". "On the Clock" and Continued Processing of the Unit Selection Lists When units are added to the Inventory, the household with the top position on the corresponding Unit Selection List (USL) is put "on the clock". When a household is "on the clock" they have 7 business days to sign a Purchase and Sale Agreement for any of the appropriately sized homes currently in the inventory. For example: The household in Position #1 on USL #3 can purchase any of the 3BR units in the Inventory. The household in Position #1 on USL #2 can purchase any of the 2BR units in the Inventory. The household in Position #1 on USL #1 can purchase any of the 1BR units in the Inventory. If a top household on does not like any of the homes available or fails to sign a Purchase and Sale Agreement in 7 business days, they will be dropped to the bottom of the Unit Selection List, below every household that is currently on the list. This means that if a household passes up the opportunity to purchase any of the affordable homes currently available to them, they will have to wait until every other household on the appropriate Unit Selection List gets an opportunity to purchase a unit. Originally, only when a home had been refused by every household of "appropriate" size would it become available to smaller households. This is no longer the case. Example: Three 2BR units are added to the Inventory. The household with position #1 on USL #2 (for the 2 BR units) does not like any of the units so they don't sign any Purchase and Sale Agreement during the 7 days they are "on the clock". Their Application Number is removed from the top position and put at the very bottom of the Unit Selection List, behind ever Application Number currently on USL #2 (which includes all the applicants in the lottery who wanted a 2BR unit including 1 person households AND all the applicants that applied for a 2BR after the lottery). Declined Units If every household on a Unit Selection List is given an opportunity to purchase a particular unit and every household declines, this unit will then be made available on a first-come, first-served basis (see page 1). This means that a household that applies after the lottery for a 2BR unit will be put at the bottom of Unit Selection List #3 but if there is a 2BR unit that every household ahead of them on the list already declined, the can be put "on the clock" for that unit immediately and they will have 7 business days to sign a P&S Agreement for it. Please take the time to review all the information provided to you on this site, and if you feel you are a canidate, and are interested, please contact us at NatickAffordable@holmesteadproperties.com or call 508-858-9781 to set up a tour of available units. HOLMESTEAD PROPERTIES 52A Hayden Rowe St. Hopkinton, MA 01748 Tel: (508) 435-4411    Fax: (508) 435-4433 www.holmesteadproperties.com David Holmes, Broker/Owner    Damian W. KokEnnen, Realtor * Holmestead Properties is not affiliated with Natick Village Condominium Trust or Barkan Management. This website is for marketing and informational purposes only, all information is deemed reliable, but not guaranteed.