|Re: list of "waypoints"||<– Date –> <– Thread –>|
|From: Eileen McCourt (emccourtcharter.net)|
|Date: Fri, 19 May 2006 10:28:36 -0700 (PDT)|
Important milestones during construction are unit selection (we lost some people over this event alone), unit pricing (more people lost) and defining options and upgrades (part of design but you would be surprised how much this continues through construction). A huge milestone that caused us to loose time on our schedule is Fannie Mae approval and the first mortgage. In a related issue, because the first people who moved in paid cash, it was hard to get appraisals to meet the full cost of the homes for the first few buyers with mortgages. Another factor in Fannie Mae approval was the completion of the Common House. An additional milestone in CA is DRE (dept of real estate) approval. I can't remember if Fannie Mae held up DRE or DRE held up Fannie Mae, but they are related, and both are needed before homes can be sold and mortgages written. I think DRE is first, because we did sell homes to cash buyers before we could get individual mortgages. We had to move those who needed 90% financing to a later schedule of move-in because initially banks would only finance about 70%, so those with more cash were able to establish the market rate and then the mortgages were easier to get. Had we been able to anticipate these delays and dependencies, we would have had a smoother move in process. As it was, we had many transitional situations for up to half of the members. One of the things we did was to let people move in and rent back from the LLC, a VERY risky proposition, but it worked out okay. --eileen Eileen McCourt Oak Creek Commons Paso Robles, CA -----Original Message----- From: Robert Moskowitz [mailto:robertm [at] knowledgetree.com] Sent: Thursday, May 18, 2006 2:05 PM To: cohousing-l [at] cohousing.org Subject: [C-L]_ list of "waypoints" I'm trying to put together in my mind, if not on paper, a list of "waypoints" that we will/should encounter in moving from a group of people who have expressed an interest in cohousing to a group of people actually living in cohousing. My idea is that we can aim for these waypoints and we can also ask for increasing levels of commitment as we approach and pass them. Some of the waypoints I imagine include: Opt In Verification of Financial Capability Acquisition of Property Design Hiring of contractor Construction Move in If anyone can help me identify more, and/or put them in the best order, I'd be very grateful. Thanks. Robert www.consciousnesscentral.com/cohousing _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
- list of "waypoints" Robert Moskowitz, May 18 2006
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