The down side of open market for cohousing | <– Date –> <– Thread –> |
From: Rob Sandelin (robsanmicrosoft.com) | |
Date: Thu, 16 Mar 95 15:24 CST |
One of the aspects of condominium as a legal form for cohousing is that often banks demand little or no resale restrictions on units. We recently had a mortgage company foreclose on a home (What a long strange trip that was....) and now they are selling the home. Unfortunately the mortgage company seems to have little interest in "cohousing" and has rebuffed our efforts to help them sell the home several times. Last Sunday the mortgage company placed an extremely misleading ad in the real estate section of the paper (said it was waterfront property which is a bald lie). I called them to inquire, not telling them that I lived in the neighborhood and almost all the info they gave me was inaccurate. What is frustrating is that we have sent them a letter clearly detailing all the information and they are not passing that info along. I guess J.R Ewing, of the TV show Dallas pegged these people when he said: "Once you let go of your intregity, the rest is easy." We have had several people come out, all of which whom are entirely unaware that the property is a condominium and in a cohousing development. (where's the waterfront?) Coupled with the fact that the home is unfinished and has an odd layout, and is very expensive ($275K) , no one has made an offer yet. What has ended up happening is that several community members then waste a lot of time answering questions and giving tours to people who are totally clueless and often disinterested in community. So, I don't know how to remedy any of this but I did want to pass along our problems so maybe someone else could learn something from them. Rob Sandelin Watching em come, watching em go Sharingwood.
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The down side of open market for cohousing Rob Sandelin, March 16 1995
- Re: The down side of open market for cohousing J . Massengale, March 16 1995
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