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<br /> Administrative Plan 7/1/2025 <br />. <br />Page 15-26 <br />15-VII.E. ADDITIONAL PHA REQUIREMENTS FOR SEARCH AND PURCHASE <br />[24 CFR 982.629] <br />It is the family’s responsibility to find a home that meets the criteria for voucher homeownership <br />assistance. The PHA may establish the maximum time that will be allowed for a family to locate <br />and purchase a home and may require the family to report on their progress in finding and <br />purchasing a home. If the family is unable to purchase a home within the maximum time <br />established by the PHA, the PHA may issue the family a voucher to lease a unit or place the <br />family’s name on the waiting list for a voucher. <br />SAHA Policy <br />The family will be allowed 120 days to identify a unit and submit a sales contract to <br />SAHA for review. The family will be allowed an additional 120 days to close on the <br />home. SAHA may grant extensions to either of these periods for good cause. The length <br />of the extension(s) will be determined on a case-by-case. The maximum amount of time a <br />family will be given to locate and complete the purchase of a home under the <br />homeownership option is 365 days. <br />During these periods, the family will continue to receive HCV rental assistance in <br />accordance with any active lease and HAP contract until the family vacates the rental unit <br />for its purchased home. <br />All requests for extensions must be submitted in writing to the PHA prior to the <br />expiration of the period for which the extension is being requested. The PHA will <br />approve or disapprove the extension request within 14 calendar days. The family will be <br />notified of SAHA’s decision in writing. <br />The family will be required to report their progress on locating and purchasing a home to <br />the PHA every 30 days until the home is purchased. <br />If the family cannot complete the purchase of a unit within the maximum required time <br />frame, and is not receiving rental assistance under a HAP contract at the time the search <br />and purchase time period expires, the family will be issued a voucher to lease a unit. <br />EXHIBIT 1