Cohousing-L Mailing List: Re: cohousing premium?

[Anne Birchfield (anne.birchfield]

I put about 45% down, and got a mortgage for the balance. I paid closing
costs myself. When we had 3 completed sales from cash buyers for comparable
units within our new community, we had appraisals done. They DID use our
own units for comps.

On Fri, Nov 27, 2020 at 12:55 PM CJ Q <homeschoolvideo [at] gmail.com> wrote:

> One appraisal company wouldn't even try since there were no comps.  I don't
> know if that hurt the person trying to get a loan. I recently hired a
> second company - I will let you know. The reason is for banks and mortgages
> and how much I can price my unit.  It would hurt affordability if only
> people who pay cash can move in.
>
> I bought an affordable unit and it was below the appraisal.  I don't know
> how the developer got appraisals.  Also, I don't know why appraisers or
> cohousing can't just compare each unit to the other ones around them.
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