|Re: How do you deal with resale||<– Date –> <– Thread –>|
|From: BARANSKI (BARANSKIVEAMF1.NL.NUWC.NAVY.MIL)|
|Date: Thu, 20 May 93 12:37 CDT|
From: phalpern [at] world.std.com (Pablo Halpern) Subj: Re: How do you deal with resale Once the initial membership has moved in, New View will create a new class of member (called "associate member," for now) which will have some privilages and responsabilities but not as many as a full, resident member. At the very least, associate members would be invited to some common dinners and other events and have some use of common facilities but they would not live on the site and would probably have limitted consensus-voting rights. The important thing is that the associate members would constitute an expanded communitty of people interested in cohousing with whom we would be in close touch. It is our hope that people will be able to sell their units more quickly and without realtor's fees by using the associate members as a pool of potential buyers. This is a great idea, maybe even essential to continuing success. It gives people time to become part of the community instead of just walking in off the street. Without further refinement this idea has several problems. For example, no matter how long someone has been an associate member, they can be outbid for a house by a much newer member. I guess my idea of how to handle this is to get some outside realtor appraisals and try to estimate a fair market value of the seller's share. The community gets first chance to buy back the seller's share at this price. Other interested new members may submit bids, and the community as a whole chooses which new member and bid to accept. They may not want to accept the highest bidder, or the longest standing member, but may want to take both of these factors into account of their decision. This could cause lots of fighting if it can't be done in an objective manner. But basically, either you are going to attempt to make this decision ahead of time by making rules which aren't going to always work out well, or it's going to be a different decision each time as the situation changes. The community might pay half of the difference between a low bid and the FMV, or take half of the profit from the difference between a high bid and the FMV. If there's no ready takers associated with the community, then it's on the open market, but the community can reject people, or require they go through the community acceptance process, activities, which may take some significant time. In this case, I think it's in the community's interest to buy the share, or at least take over that share of the mortgage, and rent the space to a prospective member until they feel certain the new person is right for the community. Jim.
Re: How do you deal with resale Pablo Halpern, May 18 1993
- Re: How do you deal with resale BARANSKI, May 20 1993
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