Re: Foreclosures and short sales
From: R Philip Dowds (
Date: Thu, 12 Feb 2015 05:59:21 -0800 (PST)
At Cornerstone Cohousing, we *do* have the right of first refusal — meaning 
that by master deed, we are entitled to cut to the front of the line in any 
unit purchase and sale, and take over a third party’s legitimate offer for the 
same terms.  But we’ve never exercised this right because (1) we don’t have any 
money set aside for the purpose, and (2) the sellers (meaning, our friends and 
neighbors) typically do not want us to “interfere” in what is already a 
challenging and anxiety-fraught process.  Legally, I do not know if the rules 
of foreclosure supersede our somnambulant ROFR.


> On Feb 12, 2015, at 8:49 AM, Fred-List manager <fholson [at]> 
> wrote:
> Ian Greensides <ian [at]>
> is the author of the message below.  It was posted by
> Fred, the Cohousing-L list manager <fholson [at]>
> after deleting quoted digest and restoring subject line.
> Digest subscribers, please delete most of quoted digest and
> restore subject line when replying.
> --------------------  FORWARDED MESSAGE FOLLOWS --------------------
> What if the co-housing community had the first right of refusal to
> repurchase the homes, if they fell into foreclosure, or a deed
> restriction of some type that did the same thing?
> Then the community could buy the property back, and sell it at market value?
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