Cohousing-L Mailing List: RE: Selling Units after move-in

[Marci Malinowycz (SoDance]

At Puget Ridge (Seattle WA) we don't keep a waiting list; we even had trouble 
putting together a complete list of those who had expressed an interest before 
our first sale. We've started keeping a better list of interested people since 
then, but since not all units are the same size, and people change in their 
interests and needs, we don't think a waiting list will help. We've had two 
resales in three years (and are working on two more right now). 

We figured we were self-selected in the first place, so others can self-select 
to be with us. This means prospective buyers are expected to attend at least 
one meeting and one meal to see how we work - some attend more. We also are 
organized as a condo, and have exercised our right of first refusal only to 
allow one of our members to change unit size. 

The assumption that the seller wants to maximize the price may or may not be 
accurate, depending on why the seller is leaving. Remember, this isn't a 
randomly selected person, but someone who has been part of your community for 
several years. How much do they care about the community? How much of a 
monetary hit are they willing to take to maintain the sense of community 
you've built together? We all know that social forces are pretty strong - what 
makes you think these forces won't be part of the decision-making process in 
most of the sales from your community? And in our experience, we haven't had 
more than two serious offers on any of the units - and the seller gets to make 
the call as to which he or she accepts. 

Good luck with the process!
Tom Whitmore, on Marci's nickel

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From:  cohousing-l [at] freedom.mtn.org on behalf of Jim Snyder-Grant
Sent:  Thursday, December 11, 1997 9:52 AM
Subject:  Selling Units after move-in

We anticipate the possibility of our first post-move-in sale at New View 
(Acton MA), so I thought I'd check up on policy and advice from other 
groups.

We are organized as a condo, and so the group has very little control 
over a sale, other than a right of first refusal, which allows the 
association to match a bona fide price. 

If there are other groups out there that are organized similarly, do you 
have procedures you have used and liked (or used and not liked) about 
how a seller and the group participate in finding a buyer & a price? I'm 
particularly interested in the meaning of a 'waiting list' in a 
free-market situation. We probably would have a number of potential 
interested buyers. I've been thinking about the natural goal-tension 
between the seller who usualy wants to maximize the price, and the 
group, that might want the order on the waiting list to mean something. 
But how can order make a difference if any potential buyer later in the 
waiting list (or not on the waiting list..) could bid the price up 
beyond what the first person on the waiting list wants to pay?

Thx in advance for your usual wisdom & experience...

-
capsule news summary: All 24 households have been living on our 
beautiful sloped far-suburban landscape 50 minutes outside of Boston in 
a clustered mix of attached and detached houses abutting 100 acres of 
conservation land for between 2 1/2 and 1 1/2 years. We have the hole 
dug & the budget agreed on for the common house, and plans are moving 
into the design development stage. We have twice-weekly or so rotating 
potlucks. Our biggest recent issue was the placement of our first 
out-building: a shed for tractor & supplies. By the way: this email was 
NOT a formal announcement of any units for sale!! This was just a 
request for process suggestions so we can huddle & agree on how to 
proceed. There MAY be an announcement shortly, from a seller or from New 
View..

---
jimsg [at] hotmail.com
Jim Snyder-Grant
(please excuse mandatory ad appended by my email provider)


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