Cohousing-L Mailing List: Re: Lease to own/purchase

[Elizabeth Magill (pastorlizm]

We discussed this all the time at the sales stage…and had folk who said they 
wanted it. 

Two things:
1) We needed the cash from the sale to pay off the construction loan. So I 
could never figure out how a rent-to own would work on from the point of view 
of the developer (that is, us who already owned).

Still:
2) I said to every person who asked about rent to own that we would consider it 
if they presented a plan. No one every did that.

I’d love to hear if any community did this.

-Liz
(The Rev.) Elizabeth M. Magill
www.ecclesiaministriesmission.org
www.mosaic-commons.org
508-450-0431




> On Aug 25, 2016, at 1:42 PM, Miranda Castro <mirandacastroflorida [at] 
> gmail.com> wrote:
> 
> 
> Our group has 21 out of 24 lots ‘sold’ on our 4.75 parcel in the city of 
> Gainesville (Florida).
> We shall be breaking ground later this summer/fall. The permitting process 
> with the utilities company has been ridiculously convoluted but we are 
> getting there.
> We are considering a lease-to-own/purchase for one of the 3 remaining lots 
> with members investing.
> The main goal would be to make at lease one home affordable to a family who 
> might not be in a position to get a mortgage.
> Have any other communities done this.
> We’d love to hear your experiences - the good and the bad.
> Thanks so much
> Miranda 
> 
> | Miranda Castro: Chair, Building Committee
> | Gainesville Cohousing: http://www.gainesvillecohousing.org 
> <http://www.gainesvillecohousing.org/> 
> 
> | Mailing: 2349 NW 32nd Place, Gainesville, FL 32605 
> | Phone: 352-505-8545
> | Email: mirandacastroflorida [at] gmail.com
> 
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