Cohousing-L Mailing List: Re: Financial Checks for Prospective Shareholders

[Sharon Villines (sharon]

> On Feb 23, 2022, at 1:24 PM, Diane Maluso <dmaluso [at] gmail.com> wrote:
> 
> Hi, folks.  I'm a member of TREE, the third neighborhood at Ecovillage
> Ithaca in the Finger Lakes area of NY State.  We have decided to conduct
> financial checks for prospective shareholders but do not have a policy yet
> about exactly what we should check nor how to do so. I'd love to know what
> other co-housing groups do regarding finances of prospective members.

Mortgage brokers have a standard process of prequalifying people for mortgages. 
Then the person knows how much they can afford when purchasing a unit. Unless 
there is some specific cause to doubt the people who wish to join the group 
this can be done by the prospective members themselves without collecting 
forms, etc. The value for everyone is in having defined limits in terms of 
costs. This can be very helpful to planning because you begin knowing your 
limits. 

Diamond studded faucets or not? Yes, we want the faucets but they have to come 
at this price. Or we will have to stud them ourselves after move-in.

Sharon
—————
Sharon Villines, Takoma Village, Washington DC

We don’t agonize, we organize. — Nancy Pelosi