Re: helping owners sell
From: David Heimann (heimanntheworld.com)
Date: Mon, 26 May 2014 19:25:07 -0700 (PDT)
Hello again,

Someone at JP Cohousing has pointed out that even though we have never directly invoked the right of first refusal clause in our Master Deed, we nonetheless have it as a foundation for the processes we do use. Everyone knows that we have the right to find a buyer ourselves (which could be us). A seller (and a buyer) therefore need to work with our processes that I've outlined in my previous message.

        One doesn't have to actually invoke a right for it to be useful.

Regards,
David


On Mon, 26 May 2014, David Heimann wrote:


Hello John and everyone,

        We at JP Cohousing do much of what folks have described earlier:

o Maintaining an interest list, which we notify when a unit becomes available.

o Having a marketing maven (or several) who helps the seller and the various prospects through the process.

o Having information on what banks have given what mortgages to our various buyers.

o Getting the word out, in addition to the interest list, to places such as local "sympatico" organizations, local newspapers, and Cohousing-L (of course!).

o  Having residents get the word out to organizations that they belong to.

o  Having several open houses, with residents volunteering to staff them.

o  Having several site tours, with resident volunteers.

o Prospective buyers need to visit us at least once (possibly for a meal), and come to at least one General Meeting.

o We have a "clearness process" for a committed buyer, which is similar in concept to the Quaker clearness process. The buyer meets with a clearness committee consisting of several volunteer residents. In the meeting, several questions are addressed, including:

* Does the buyer understand what they are getting into by joining a cohousing community, especially ours?

* Does the buyer understand that there are work obligations such as attending General Meetings, being active on at least one committee, and putting in at least a defined amount of work (current 4 hours) a month?

        *  Does the buyer understand what consensus decision-making is?

* Has the buyer read through the condominium documents (which include a lot of the above), and agree to them?

* What can the buyer offer us as a community member, and what can we as a community offer the buyer?

* After this discussion is complete, do you want to go forward with the sale? (Notice that we have no up or down approval decision; the prospective buyer self-selects. Notice also that having said that we do have a right of first refusal that we have never yet used.)

o The formal process of an offer sheet, purchase and sales agreement, mortgage financing, and closing is between the seller and the buyer

Regards,
David Heimann
Jamaica Plain Cohousing


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Date: Sat, 24 May 2014 10:52:27 -0700
From: John Goldberg <johngoldberg [at] hotmail.com>
To: Cohousing dot org Listserv <cohousing-l [at] cohousing.org>
Subject: [C-L]_ Helping owners sell

I would like to know what other Cohousing communities do to help sellers when they want to sell their homes.


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