Lenders
From: Jasmine Gold (juturnaix.netcom.com)
Date: Fri, 7 Apr 2000 10:32:20 -0600 (MDT)
Peninsula Region Cohousing (Silicon Valley) is seriously searching for
land again. We may be putting in an offer in another week. Our broker is
still working on getting our financing together and given the price of
land around here, we'll need a big loan. Can anybody recommend lenders
that you have used to purchase your land, what kind of loan you got, and
what terms you had? The property has an existing home, three cottages
and three miscellaneous buildings on it, but is being sold for lot
value. You can fall off your chairs now. We're looking at buying a 12
acre $5.5 million dollar property and closing in 60 days without getting
an option.

I'll send out more details if we make an offer and it's accepted. Please
don't send me horror stories about buying land without an option. It's
the only way in this market. We know that it is subdividable into 3-5
lots and that we can quickly sell it back for more than we paid if we
can't get through the politics of building more than one home and one
cottage on each buildable acre. 

Please send your replies directly to me as I get the digest and would
like quick responses. We'll be meeting this Sunday.

Thanks.
--Jasmine Gold, Peninsula Region Cohousing
  • Lenders Jasmine Gold, April 7 2000
    • Re: Lenders Denise Meier & Michael Jacob, April 7 2000

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