Cohousing-L Mailing List: Re: right of first refusal

[Sharon Villines (sharon]

On Aug 4, 2010, at 4:20 PM, David Pierce wrote:

> Are we really talking about a covenant or agreement that
> restricts the offering price?  Or is the right of first refusal
> mostly vacuous because of pricing strategies (including but not
> limited to the one described here) that can easily circumvent it?

Right of first refusal has nothing to do with sales price. The second  
window of 3 days after the 45 day period is in case the seller and the  
HOA can't agree on a price. If in the 3 day period there is an offer,  
then the HOA could accept that price whether it is higher or lower  
than previously discussed prices.

Preventing a non-cohousing friendly person from buying the unit is not  
the only reason for the HOA to buy a unit. Our own Ann Zabaldo has  
long wanted to buy a unit for additional community property - for a  
adults only space. (As wonderful as our children are they do get  
oppressively loud.)

Sharon
----
Sharon Villines
"Let us make a special effort to stop communicating with each other,  
so we can have some conversation." Judith Martin