Re: Owner Financing 43 Acre Sale to Co-Housing Group
From: Sharon Villines (sharonsharonvillines.com)
Date: Mon, 9 Jan 2006 13:23:03 -0800 (PST)
My advice would be to check with a lawyer and have the group do the
same.

The bottom line advice is always to check with a lawyer but what you do before you check with a lawyer can make the experience more useful and less expensive. One group paid $15,000 to a lawyer for condo papers and got over 100 pages of stuff spewed out of a computer. It was overwhelming, totally unnecessary, and far too expensive.

If you read about your options first, you can also ask the right questions when you get to the lawyer. Lawyers tend to answer questions and do what you need them to do. If you don't ask the right questions, you may not get the answers that might have served you better. Perfectly legal is not the same thing as best choice for your group.

Lawyers can tell you what can or cannot be done and what may be required, but they are not always going to tell you all the possible options. And at $400 an hour, you don't want them to. That is very expensive education.

Do some reading. It's cheaper, faster, and more well-rounded information.

Then see the lawyer. If you can find a lawyer who has dealt with other cooperatives and non-profit groups, they may be more in sync with your thinking.

Sharon
---
Sharon Villines
Building Community: A Guide to Creating New Neighborhoods
http://www.buildingcommunitynews.org


Results generated by Tiger Technologies Web hosting using MHonArc.