Cohousing-L Mailing List: Your wisdom-- Referral to the right financial planning professional

[Pare Gerou (paregerou]

A request for a referral from your networks--


Hello All!



Greek Village Cohousing has reached a milestone- we now have land and chose
developers!  Our first year is coming to an end and went far better than I
could have imagined.  We are now officially beginning our design phase, and
it is going to be a blast- this is the fun part!  I opened up Equity
membership a few weeks ago when we formally chose our land, and we now have
several Equity households.  There are a few more explorers that have said
they want to take the plunge, but the biggest hurdle for many is the
overwhelming task of financial planning coupled with the fact that we do
not have our advance payment plan developed yet.  They are unsure if they
will need a bridge loan or when to sell, etc.



I want to provide people with more support.  We need a person with
experience and the skills to help us set up the advance purchase schedule
and timeline (ie: 10% down, 20% upon completion of X, 20% upon completion
of Y).  Luckily, we do not need to buy the land in advance- that cost will
be folded into the home/commons cost. We also need someone who can assist
with helping individual members ensure they are financially eligible and to
create a timeline of deadlines for those members in order to sell their
homes and/or cash out other assets according to the payment schedule.



A mortgage specialist is of no use.  We have a plan as well as
professionals in Greece who will be helping with the affordable housing for
Greeks, refugees, and others that help us meet our diversity and inclusion
goals.  North Americans are not eligible for that housing right now and are
additionally not eligible for mortgages.  However, North Americans have
access to cohousing homes in Greece that are substantially more for the
cost and lower cost compared to the U.S., so they will instead be
attempting to time the sale of their home or cashing out assets to meet the
schedule of payments and pay “in cash.”  In addition to a U.S. mortgage
consultant, any other  loan professional also feels not useful unless the
loan can be used for a foreign purchase of a home.   We also do not need a
holistic cohousing professional with a bank of services because most of
those services are not usable in Greece.


So we need someone good at this particular task of development payment
schedules and individual financial planning for purchasing a home - for
North Amercians as well as people from all over the world.


Any suggestions?


Kind Regards,
PARE GEROU
Greek Village Cohousing
T. +1 (434) 962-7801
A. Peloponnese
W. www.GreekVillageCohousing.com
<http://www.greekvillagecohousing.com/>
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