Cohousing-L Mailing List: Re: what info do new/prospective owners need?

[Sharon Villines (sharon]

On Oct 9, 2007, at 1:40 PM, Ken Lewis wrote:

>     1) What information do new buyers need?
>     2) When in the process of marketing, selling, buying should the  
> requisite info be conveyed to the new owner?

You should consult your lawyer about this. It is very important that  
this packet be accurate and complete because if you are a condo or an  
LLC you are selling a complicated financial product that must be  
presented in a way that does not later create liability -- like not  
telling them you have a bill for $5,000 worth of plumbing that will  
require a special homeowner assessment or that someone has told you  
you have asbestos in an outbuilding. In addition to disclosing the  
financial history, you should disclose this.

In most cases the buyer's lawyer will request the right documents but  
you will make a better (and legally safer) impression if you present  
the info first.

This is also an opportunity to convey more informal information about  
your community.

Sharon
----
Sharon Villines
Sociocracy, a Deeper Democracy
http://www.sociocracy.info