Cohousing-L Mailing List: Re: COHOUSING-L digest 134

[Robert Hartman (hartman]

> From: Rob Sandelin <robsan [at] microsoft.com>
> Subject: RE: Limits to CoHousing
> 
> Cohousing which uses the condominium, FMNA approved declarations, will 
> have little if any actual control over who can buy a home in the 
> community.  In which case, making the policies about commitment, 
> statements of vision and values, clear to prospective buyers is what is 
> going to maintain the community value structure.

Someone mentioned that the right of first refusal upon sale could be
used to good effect here.  If a cohousing group does a good job of
marketing itself, it may well have a waiting list of congenial
members waiting to buy.  If the association has some equity, it
may buy the unit itself and remarket it when a member needs to sell
in a hurry and can't find a buyer that fits the community.

Of course, if the waiting list gets too long then the people on it may
just form up another group.  But then, of course, the original
cohousing group could apply some of its equity as collateral toward
financing additional units for the new offshoot. ;^)

-r