* Disclaimer: This is an informal, partial list of steps that may be helpful for you as you consider buying into our cooperative. Please use this only as an approximate guide. We hope this helps you prepare!
When a unit becomes available, we either call or send a letter to all those eligible on our waiting list After identifying the highest party on the list interested in purchasing the unit (let's say you!), we go through the following steps:
The first stage is a financial qualification meeting.
The second stage is a meeting to receive and sign a disclosure statement, sign a subscription agreement, which is accompanied by a complete set of our corporate documents (e.g. by-laws, articles of incorporation, current financial statement & budget, occupancy agreement, membership handbook and other informative documents). Also, at this time, you pay for 10% of the share value.
The third stage is simply your payment of the remaining share balance (no sooner than 10 days after you sign the Subscription Agreement).
On the closing day, you may expect to sign the Occupancy Agreement, to pay for the pro-rated portion of the current monthly fee, receive your membership certificate and keys, and more.
For more thorough information, call us at 507-280-6053.
The information provided in this website serves only as an introduction to our company. To learn more, please email (see address at top-right corner of this screen) or call: 507-280-6053
Realife Cooperative of Rochester, 825 Essex Parkway NW, Rochester
