Cohousing-L Mailing List: Re: To incorporate to not to incorporate...

[Kay Wilson (kwilsonfisk]

When our community was being constructed, our
realtor advised us to incorporate as a condominium
under state law. He explained that most buyers
will need to take out loans, that most banks are
not familiar with cohousing, and that prospective
buyers might have trouble finding a lender that
was comfortable with making a loan for something
known as "co-housing."

We reluctantly took his advice, and were able to
sell all our units. That was 2006 and this is now.
Whether this is applicable to today's market I
don't know, but last I heard we had a prospective
buyers' waiting list of quite a few people.

Kay
Meadow Wood Condominium
AKA Meadow Wood Cohousing Community
https://www.cohousing.org/directory/meadow-wood-co
housing-community/

-----Original Message-----
From: Cohousing-L
<cohousing-l-bounces+kwilsonfisk=comcast.net@cohou
sing.org> On Behalf Of Jan Lane
Sent: Friday, May 14, 2021 2:30 PM
To: cohousing-L [at] cohousing.org
Subject: [C-L]_ To incorporate to not to
incorporate...

Writing in from Albuquerque, N.M.  We are in the
development stage of a condominium cohousing
project with 27 units.  Cohousing ABQ aka Bosque
Cohousing.  The question is whether to incorporate
the Condominium Association or to forrn an
unincorporated LLC.  We greatly appreciate and
advise one might have concerning this question.
Thank you.  Jan


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