Re: Agreements to reshare financial burden (was: Per Household or per person?)
From: Elizabeth Magill (pastorlizmgmail.com)
Date: Tue, 19 Mar 2013 18:16:03 -0700 (PDT)
> Until construction was complete, we had an agreement to sell off the
> property and divide up the proceeds if the project failed. 

In our community I was one of several who considered ourselves "risk averse" 
and thus did not "join" until the community "had land".

All those quotes to imply none of these words are as clear as they appear!!!

In my case we had a purchase and sale, a clean perc, support from the town 
officials and I paid up my share join.
Only to have a group of neighbors decide we were evil, convince the town we 
were evil, and the town executed its right of first refusal on the property and 
agree to purchase the property instead of us....
So we lost the that property and all the costs associated with making the 
property a viable purchase....

So at that point i'd invested money that there was no way to get back if we did 
not succeed....

(Our method of "joining" was to commit to pay 5% of the final purchase price of 
your home. Therefore, the question of how many in the household was irrelevant. 
"Joining" was totally based on the expected price of the home. Then the 
marketing costs, and most other costs, came from that fee, plus the investments 
that Diana noted earlier. And we all knew at some level or another that it 
could all be lost.)

-Liz
(The Rev.) Elizabeth M. Magill
www.worcesterfellowship.org
www.mosaic-commons.org
508-450-0431


Results generated by Tiger Technologies Web hosting using MHonArc.