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• The unit must be under construction or already exist at the time the family enters into the contract of sale. • The unit must be aone-unit property or a single dwelling unit in a cooperative or condominium. • The unit must have been inspected by SARA and by an independent inspector designated by the family. • The unit must meet Housing Quality Standards (see Chapter 8). • For a unit where the family will not own fee title to the real property (such as a manufactured home), the home must have a permanent foundation and the family must have the right to occupy the site for at least 40 years. SARA must not approve the unit if SARA has been informed that the seller is debarred, suspended, or subj ect to a limited denial of participation. 15-VILE. ADDITIONAL PHA REQUIREMENTS FOR SEARCH AND PURCHASE [24 CFR 982.629] It is the family's responsibility to find a home that meets the criteria for voucher homeownership assistance. SARA has established the maximum time that will be allowed for a family to locate and purchase a home to be 180 days, and requires the family to report on their progress in finding and purchasing a home. If the family is unable to purchase a home within the maximum time established ,SARA may issue the family a voucher to lease a unit or place the family's name on the waiting list for a voucher. 15-VII.F. HOMEOWNERSHIP COUNSELING [24 CFR 982.630] Before commencement of homeownership assistance for a family, the family must attend and satisfactorily complete the pre-assistance homeownership and housing counseling program required by SARA. The following topics for SARA-required pre-assistance counseling: • Home maintenance (including care of the grounds); • Budgeting and money management; • Credit counseling; • How to negotiate the purchase price of a home; • How to obtain homeownership financing and loan pre-approvals, including a description of types of financing that maybe available, and the pros and cons of different types of fnancing; • How to find a home, including information about homeownership opportunities, schools, and transportation in SARA jurisdiction; • Advantages of purchasing a home in an area that does not have a high concentration oflow- income families and how to locate homes in such areas; • Information on fair housing, including fair housing lending and local fair housing enforcement agencies; and 7/02/12 Page 15-14