|ROFR||<– Date –> <– Thread –>|
|From: Anne Little (soliannacablespeed.com)|
|Date: Tue, 2 Jun 2009 20:05:01 -0700 (PDT)|
Hi All, There are 2 condo units for sale at Jackson Place Cohousing in Seattle right now; one of which I own. I had a nice couple who were very interested in purchasing. However, they could only afford an FHA loan. FHA/HUD will not loan to a condo with an ROFR clause in their bylaws - no exceptions. Word on the street is that Fannie May may follow suit in the near future. This is really bad news. My buyers were disappointed and JPC is now looking at legally changing their bylaws. How have other cohousing folks with ROFR bylaws handled this? Owner financing and lease-to-buy are not options. How did you get your condo listed with HUD? Or is it? (You can check on their web site.) Do you have specific wording (without a ROFR clause) that helps assure that people committed to cohousing get first shot at available units? Any info is appreciated, Anne Little - Jackson Place Cohousing, Seattle
Results generated by Tiger Technologies Web hosting using MHonArc.