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The Housing (Right of First Refusal) (Wales) Regulations 2005

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Time limit for completion of purchase

10.—(1) A person who accepts an offer must enter into a binding contract with the owner for the purchase of the property—

(a)not later than 12 weeks after the date on which the acceptance notice is served on the owner; or

(b)not later than 4 weeks after the date of receipt of written notification from the owner that the owner is ready to complete;

whichever is later.

(2) If the time limit in paragraph (1) is not complied with, the owner may dispose of the property as the owner sees fit; and these Regulations will not apply to any subsequent disposal of the property by the owner.

(3) If either or both of the parties request that the District Valuer determine the value of the property in accordance with section 158 of the 1985 Act, the time from the date that the request is received by the District Valuer until the date that the determined value is notified to the parties is excluded from the calculation of the period in paragraph (1).

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