Re: communities that handle property buys and sells internally?
From: Kathryn McCamant (kmccamantcohousing-solutions.com)
Date: Fri, 18 Oct 2019 15:59:29 -0700 (PDT)
Home sales are regulated differently in every state. Some require an attorney, 
or closing attorney, and others don't.  In my community, Nevada City Cohousing 
in Nor Cal, we have seen homes sales in a variety of formats, but never with 
the community in the middle. I just closed on a new home in my community 
without either a real estate agent or an attorney. It was a sale between two 
original members, so we worked out a contract and took it over to the title 
company for the closing...all went very smoothly even as we worked thru a rent 
back. 

We have also found a couple of local relators that will facilitate the contract 
and closing for a reduced fee of 1/2 - 1 % (instead of the typical 6% split 
between the seller and buyer agents), but that is only if seller and buyer have 
already fully agreed on price and terms and are ready to go into contract, with 
no complications.  

And then I have neighbors that decided it was worthwhile to have their own 
realtor representing their interest, with the buyer having their own realtor 
like a more tradition sale. 

If you talk with realtors and loan brokers that have worked with cohousers, 
they generally say we are pain-in-the-butt clients: asking tons of questions, 
wanting to look at every possible option in detail, and then expecting 
discounts on standard fees. Buyers have often complained that trying to work 
with a cohousing seller without a realtor nearly killed the deal (and who knows 
how many it did kill). 

Katie 
-- 
Kathryn McCamant, President
CoHousing Solutions
Nevada City, CA 95959
T.530.478.1970  C.916.798.4755
www.cohousing-solutions.com



 

On 10/18/19, 3:41 PM, "Cohousing-L on behalf of Alan O'Hashi via Cohousing-L" 
<cohousing-l-bounces+kmccamant=cohousing-solutions.com [at] cohousing.org on 
behalf of cohousing-l [at] cohousing.org> wrote:

    ann - some communities handle the real estate transactions and ‘collect’ 
reduced commissions that would otherwise be paid to real estate agents. is this 
common, and / or can sellers use their own agents?
    
    
    Alan O'Hashi - Cyber Office
    Views from Behind the Lens
    www.alanohashi.com
    Colorado..303-910-5782
    Wyoming.307-274-1910
    Nebraska.402-327-1652
    
    > On Oct 18, 2019, at 3:31 PM, Ann Zabaldo <zabaldo [at] earthlink.net> 
wrote:
    > 
    > Alan — I’m wondering if I understand the question correctly — are you 
talking about For Sale By Owner (FSBO) model home sales?  Using this model you 
eliminate the need for an agent thereby saving 6% commission on the sale of the 
home.   If so, what would be the purpose of retaining a Real Estate agent?  You 
would just be incurring an agent’s fee as an expense.  Is it to feel safe 
accepting a contract?  You can have a lawyer review the contract for under $250 
instead of committing thousands to an agent.  If a seller is worried about 
getting all the paper work together in time for the closing … a closing agent 
does all that — either a real estate lawyer or a title company.  In a FSBO the 
seller has to handle relatively few pieces of paper.  Almost everything will be 
pulled by the condominium management in the case of a condo sale or as I said … 
the settlement entity will handle the paper.
    > 
    > Best --
    > 
    > Ann Zabaldo
    > Takoma Village Cohousing
    > Washington, DC
    > Member, Board of Directors
    > Mid Atlantic Cohousing
    > Principal, Cohousing Collaborative, LLC
    > Falls Church, VA
    > 202.546.4654
    > 
    > "Handle every situation like a dog. 
    > If you can’t eat it or play with it, 
    > Just pee on it and walk away.” –Author Unknown
    > 
    > 
    >> On Oct 18, 2019, at 4:39 PM, Alan O'Hashi via Cohousing-L <cohousing-l 
[at] cohousing.org> wrote:
    >> 
    >> Greetings - I'm wondering if communities that handle their real estate 
transactions for buyers and sellers internally allow owners to have an agent 
represent themselves. How are transactions handled?
    >> Thx
    >> Alan O
    >> *******************************************
    >> Alan O'Hashi - ECOS
    >> EnviroCultural Organization Systems
    >> http://www.alanohashi.com/ecos
    >> Colorado 303-910-5782
    >> Wyoming 307-274-1910
    >> Nebraska 402-327-1652
    >> ******************************************* 
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