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

[Sharon Villines (sharonvillines]

>> When a buyer is found, the board has 3 days to match
>> the sales price by either purchasing the unit or finding a buyer.

> Seems like a recipe for  hard feelings.

True, but I can imagine a situation where the community wanted to buy the
property and person selling wanted a price that the community thought was
too high. What if the person selling then allows someone else to buy the
property at a lower price?

If the person is selling it may be because of hard feelings and inability to
resolve them. This is a way to protect the community from them. Also Takoma
is a multi-dwelling building--not a lot development project. In
multi-dwelling buildings there is more interest in who is on the other side
of a common wall--and in how the units are used.

What if the community wanted a particular unit to use for another
purpose--expanding the common facilities, making rental housing available,
making teen apartments, etc. But they couldn't agree on the price?

I suspect that in most situations the owner would also know how likely it
was that the community would want to buy the property.

Sharon.

--
Sharon Villines
MacGuffin Guide to Detective Fiction
http://www.macguffin.net
Takoma Village Cohousing, Washington, DC
http://www.home.earthlink.net/~takomavillag/