Cohousing-L Mailing List: Re: helping owners sell

[Ken Winter (ken]

You have a right of first refusal?  That's a surprise - I don't think such
a clause would be allowed under condo law here in Michigan. What state are
you located in?  Are you chartered as a condo?
On May 26, 2014 10:25 PM, "David Heimann" <heimann [at] theworld.com> wrote:

>
> 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
>>
>>
>>  -------------------------------------------------------------
>>> 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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