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

[Fran Bowman (franbowman2013]

How about asking the prospective members to run free credit reports on
themselves and show them to you?
Then give them time to correct any errors or dings.
Just one idea.
*Fran Bowman*
(530) 750-9926, 540 W. 8th St., Davis CA 95616

*Doll Doctor, Fran's Doll Care and Repair*
www.fransdollcareandrepair.com

*Member, Washington Commons CoHousing*
www.washington-commons.org




On Thu, Feb 24, 2022 at 7:05 AM 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.
> Since shareholders sell their shares directly, as a neighborhood we're less
> worried about checking for the ability to cover closing costs and any
> mortgage. We're mostly concerned with assessing whether the prospective
> member can afford our monthly fees. I'd appreciate any feedback, pointers
> to your own policies, and shared experiences.
> Thanks,
> Diane Maluso   dmaluso [at] gmail.com
> TREE Neighborhood
> Ecovillage Ithaca <https://ecovillageithaca.org/>
> Ithaca, NY
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