|Re: right of first refusal||<– Date –> <– Thread –>|
|From: Dahako (Dahakoaol.com)|
|Date: Thu, 12 Oct 2006 11:02:29 -0700 (PDT)|
Hi - A comment on how a right of first refusal can be exercised. The community doesn't necessarily have to come up with the entire sale price amount. Many of cohousing's potential purchasers just have a relatively small gap between what they can afford and what the unit costs. If the community (or a subgroup of members) co-signs a loan, directly extends a soft second loan or makes a small equity investment, sometimes that will be all it takes to get a community-committed purchaser in. On "right of first refusal" - HUD won't support such clauses because they have a long and sordid history of being used to support discrimination against protected classes, especially discrimination against buyers because of their race or ethnicity. They can be and have been abused. Less likely to happen in cohousing, but I think we still need to figure out a fairly standard way to meet cohousing's needs without leaving a potential for racism in our wake. Jessie Handforth Kome Eastern Village Cohousing Silver Spring, Maryland "Where we are enjoying an unusually temperate and beautiful autumn."
- Right of First Refusal, (continued)
- Re: Right of First Refusal David Heimann, October 12 2006
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