Re: right of first refusal
From: Lynn Nadeau (
Date: Thu, 12 Oct 2006 10:42:14 -0700 (PDT)
As market-rate cohousing (legally a mutual-benefit nonprofit with a HOA), RoseWind (Port Townsend WA) is vulnerable to resales that could go to people who are not seeking community. We work hard to facilitate interest expressed via email, visitors, etc. We do our best to have a "supply" of interested parties, should a resale come available. AND our experience is that in many cases the people who are leaving are the least concerned with getting the "right" buyers. Maybe they are leaving because they don't like it here; maybe they like it but have to move because of work or family obligations, and need to get the money from house #1 to pay for house #2 elsewhere, as soon as possible. In our one worst-case scenario we had an elderly member who died and her estranged family deliberately rebuffed our efforts to connect them with buyers, padlocking the place and then selling it overnight at a dropped rate via a realtor. Result- our least-satisfied member ever! We don't have the capital, as a group, to buy a home and hold it for the right buyer. Can we require an owner to first offer it to us, collectively, or individually? I don't think we can legally require that. We can suggest it - and in friendly resale situations we definitely announce it to our membership before others. I've wondered whether we could have present owners -- voluntarily -- sign agreements about resale of their property (right of refusal and/or a fee/donation to the community upon resale)? Has anyone tried that? Something that would bind heirs, for example, if they resold. The good news - In quite a few years as a built community with 22 houses, once built, only 5 homes have changed hands, plus one that was inherited by people who wanted to live in community. Most of the time we have nothing for sale.
Lynn Nadeau

Results generated by Tiger Technologies Web hosting using MHonArc.