Re: A question about resold units
From: Ann Zabaldo (zabaldoearthlink.net)
Date: Tue, 20 Nov 2012 17:21:04 -0800 (PST)
Hi!  thanks, Patti for writing to me.  I was confused because in your email 
posted to the list you said the FAIR HOUSING COMMISSION wouldn't certify you.   
It's actually the Federal Housing Administration or FHA.  It's difficult to be 
certified by this institution.  We're trying to get certified now.  Been 
months!!

Thanks for clearing this up.  I was truly confused.

:-)

Best --

Ann Zabaldo
Takoma Village Cohousing
Washington, DC
Principal, Cohousing Collaborative, LLC
Falls Church VA
703-688-2646

On Nov 20, 2012, at 8:13 AM, Shari Hirst wrote:

> 
> Thank you.  Shari
> 
> -----Original Message----- 
> From: Lautner, Patricia
> Sent: Tuesday, November 20, 2012 5:51 AM
> To: 'Cohousing-L'
> Subject: Re: [C-L]_ A question about resold units
> 
> 
> We have a transfer fee written into our by-laws.  We've never evoked this 
> fee because it only applies when a unit makes a substantial gain over their 
> original purchase price.  It think it's written that, if the unit sells for 
> 20% higher than the original purchase price, the community will get 1% of 
> the amount over 20%.  This makes the fee more symbolic than anything.  The 
> probability of any real money being gained these days is small.  We wrote 
> this policy at the height of the housing market where some members had 
> earned double what they paid for their homes prior to moving into community, 
> so that money seemed real back then.
> 
> A word of warning though, the Fair Housing Commission sited the transfer fee 
> as one of the reasons they denied us certification.
> 
> Patti
> JPCohousing, Boston.
> 
> -----Original Message-----
> From: Shari Hirst [mailto:sharihirst13 [at] gmail.com]
> Sent: Monday, November 19, 2012 11:35 PM
> To: Cohousing-L
> Subject: [C-L]_ A question about resold units
> 
> 
> ElderGrace is now Sand River Cohousing.  We decided a more upbeat name was 
> needed for active Seniors.
> 
> Our by-laws state that when a unit is resold, a Transfer Fee can be assessed 
> to the new owner.  This fee goes to the Reserve Fund.  I would like to know 
> if other communities have this in their by-laws, and if they do, what do 
> they charge.
> 
> We are in New Mexico, but I was told that this Transfer Fee was in the 
> by-laws of other states.
> 
> Any feed back is appreciated.
> 
> Shari Hirst
> sharihirst13 [at] gmail.com
> Sand River Cohousing
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