Re: Cohousing-L Digest, Vol 33, Issue 14
From: Sharon Villines (sharonsharonvillines.com)
Date: Tue, 10 Oct 2006 18:50:20 -0700 (PDT)

On Oct 10, 2006, at 7:32 PM, Mary English wrote:

Our community, Wasatch Cohousing, is reviewing our right of first
refusal clause this month, because prospective purchasers are being
refused morgages due to that clause.

Why are banks refusing mortgages? It seems that all they would care about is that someone would purchase the unit -- that it could be sold.

I would understand if the clause said the community had to approve the buyer. That isn't what right of first refusal means.

Sharon
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Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org


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