What if a member wants to move out of the community and sell his or her home?
The process is simple. You can try to sell your unit on your own (most cohousers do so successfully) or hire a realtor. Because of life changes and other reasons, some moves do occur, but we’ve found that is happens much less frequently than in other condo developments. The seller and the rest of the community will benefit if everyone lends a hand in finding new owners. When it comes to resales, experience has shown that homes in cohousing have appreciated faster than the market as a whole.
It is usual for a cohousing community to have a right of first refusal when a member wants to sell so as to offer the property to people on the waiting list. After that the owner has the right to put the house on the open market. The lease may require any prospective buyers to agree to full participation in the community.
Any household leaving the community can legally sell its property to anyone it chooses, except in a few cohousing communities in the U.S. that are structured as cooperatives. Some groups maintain a “right of first refusal,” which means that the seller must offer his or her home for purchase by the community or to an individual or individuals within the community before putting it on the open market. In other communities, residents sign a voluntary agreement that they will not lease or sell their house to a person or persons who do not wish to participate fully in the community. Note: White Hawk is one of those communities that requires members to sell thier homes only to individuals willing to become members themselves. Some groups maintain a waiting list of people interested in being informed if a home becomes available. The seller and the rest of the community will benefit if everyone lends a hand in finding new owners. When it comes to resales, experience has shown that homes in coh
