Re: How would this work-property already owned by someone...
From: Diana Carroll (dianaecarrollgmail.com)
Date: Wed, 30 Oct 2013 13:20:44 -0700 (PDT)
My first thought is for him to get the property appraised, and he gets
"credit" for the value of the property before any more work is done on it.
 Then he applies that credit toward his contribution toward the project.
 So if the property is worth $50K, and the work to be done is $150K, then
the total cost of the project is $200K.  Each family is then responsible
for paying $50K...and his is paid by his "donation" of the land.

Diana


On Wed, Oct 30, 2013 at 3:52 PM, MJWB <mjwyogini [at] yahoo.com> wrote:

>
> HI folks,
>
>     I had asked the group previously how to switch a single owner over to
> cooperative housing.
> There are 4 units, and some people gave me good advice so that I was able
> to go further. I'm now
> wondering..... What would happen to the owner's equity in the property, as
> he's owned it for about
> 10 years now...how would he reap something out of the sale to a
> cooperative? Or to Retrofit Cohousing?
>
> Or how else could it work?
> He's concerned, rightly so; about his investment. If we do this as
> "retrofit cohousing," or "casual cohousing,"
> does anyone know just how that works? What would he reap as benefits?
>
>   I hope I've been articulate enough. Thank you everyone.
>
> Marsha
> _________________________________________________________________
> Cohousing-L mailing list -- Unsubscribe, archives and other info at:
> http://www.cohousing.org/cohousing-L/
>
>
>

Results generated by Tiger Technologies Web hosting using MHonArc.