Cohousing-L Mailing List: Re: First right of refusal

[Lynn Nadeau (welcome]

>In our by laws for Takoma Village sellers have to advise the board
>that they want to sell their unit.  The board (therefore the
>community) has 30 days to find a purchaser.  If no purchaser can be
>found w/in 30 days, the sellers can put the unit up for sale on the
>open market.  

When a buyer is found, the board has 3 days to match
>the sales price by either purchasing the unit or finding a buyer. 
>There are a few other details including issues about the pricing of
>the unit, etc.  but these are minor compared to the "right of first
>refusal" we are building into our by-laws.


The first part makes sense to me, but the second seems like a recipe for 
hard feelings. I mean, after delaying for 30 days already, the seller 
goes through all it takes to locate a buyer, and then AFTER someone is 
found to buy it, the community can again butt in and bump that buyer? If 
that buyer does in fact end up joining the community, how does that make 
them feel about a community that may have tried to prevent them from 
joining, even unsuccessfully? Or how does the seller feel, after giving 
the association their 30 days, not having it acted upon, and then going 
through showing their house multiple times, real estate agents, etc etc, 
and then having that open to challenge....still? I'd think you'd be 
better off with the 30-day option, and end at that. 

Another question: Does your agreement affect other transfers of property, 
other than open-market real estate sale? If, for example, an owner wishes 
to sell, "privately",  to a friend or relative? What about inheritance?  

Lynn Nadeau
RoseWind Cohousing
Port Townsend WA