Cohousing-L Mailing List: Condo/Coop

[Charles Ehrlich (chas]

This is a posting on behalf of the Berkeley CoHousing on Sacramento Street.
Responses will be forwarded to the group.
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The Berkeley CoHousing on Sacramento Street is facing issues of how to
choose the most appropriate legal structure for the ownership of the
property.  All but one of ten households currently resides at the site
which was initially purchased as tennants in common.  After the next
phase of development which includes the building of four additional units
and the refurbishing of many of the existing ones, the units will be
fixed in price based on a number of criteria and sold back to each of
the members with more-or-less traditional mortgages.

The poster of this message did A LOT of searching through the CoHousing-L
archives and delivered as much info to the group as he could find, but the
group continues to feel a bit in the dark and hopes that others in
the online CoHo community would be willing to share their current
thoughts and feelings regarding the issue of weather to form a Condo
versus a Co-Op legal ownership structure.

What are the implications for obtaining mortgages?
How does the legal structure influence interpersonal dynamics?
If you could do it again, would you do it differently and why?
Other concerns, issues, cavaets, etc.

Much thanks,
-Chas Ehrlich  for   -Martha Cain  2220 Sacramento St. Berkeley  94702
-chas [at] innernet.com   -Digiteng [at] aol.com