|Re:Buying Land||<– Date –> <– Thread –>|
|From: Merlin Porter-Borden (merlpberols.com)|
|Date: Sat, 19 Apr 1997 10:22:44 -0500|
> > NKaten947 [at] aol.com wrote: > > > > Hi, > > I didn't get much response to my last inquiry, so I would like to ask > > again. Our group is talking to land owners about buying a piece of > > property. At this time there are only six households involved and we are > > looking at a piece for 27 homes. > > Have other groups bought land with this few families?? How has it gone?.... @ Liberty Village, 12 miles fm Frederick, MD (50K pop.), 40 mi fm Baltimore, in 1995, Five Veteran cohousing seekers (5 years at that time), after nearly a year of wrangling, put a $5000 nonrefundable deposit (if we defaulted) on 27 acres of farmland ($425K). We created a series of four $2K "Equity Dividends" to award new partners joining before milestones (Purchase, Rezoning, Preliminary Plan Approval, & Start of Construction (sewer, water)). We went to 9 partners before the first dividend; 13 before the second, 19 before the third (35 homes). The incentive helped, and it will be paid by an increase in lot price for those joining after we start constuction/close the partnership (which is a month away). The dividend served as a reward for the higher risk takers, and drew people in early. Obviously, the dividend creates a bubble for the end-buyers, but that is mitigated, in our case, by having 3 out-lots and a lot with a 4000sf "Manor" house to sell (buyers may buy into cohousing). I have written several paragraphs here, and erased them. Too much. When you sign on the line for purchase, look around, those are your burning souls, and, probably, they won't all be there at move in time. Community, though, is a-building already! Merlin PS to NKaten: The lack of response is probably due to the "Vets" having 10,000 things to tell you and not wanting to start. Read, train, recruit, publish, meet, read, train, publish, recruit, meet, meet, meet, meet.........'til hell freezes over and then do it again!
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