Cohousing-L Mailing List: Re: Appraisals/loans

[MartyR707 (MartyR707]

In a message dated 1/4/98 8:26:01 AM, John wrote:

<<I think Marty's questions about appraisals, loans, and comps are key
questions for many groups.  I hope responses will go to the list so all of
us can benefit from the replies.

Thanks -

John Abrams
Island Cohousing and South Mountain Co., Inc.
West Tisbury, MA>>

Yes, very important info.  I haven't received any replies yet, so this is a
nudge to those of you who have the data.  We hope to apply for our loan by the
end of this month, so badly need the info.  I will repeat what we're looking
for:

Communities that were able to get a loan larger than 80% of appraisals, when
appraisals were lower than cost.  Details in writing.  We hope such info might
encourage our bank to go for it.

Thanks again!!
Marty Roberts
Two Acre Wood