We are a few friends with special needs kids, who want to book and buy houses adjacent to each other. Obviously new construction since that's the only way you can choose adjacent houses.
We want to form a social connection by living next to each other, but don't want to be formally attached such as with an LLC etc. The idea is to form lifelong bonds and watch our for each others kids as we grow old. Initial intent is to stay there for life.
But my question is what happens when someone wants to leave for any reason. How can we enforce a condition where that house should be sold only after group's approval, and should be sold only to another family with a spl needs person. That way our community intent is intact.
@Ritz NA, you need to talk to a real estate lawyer in your state. This is a very specific legal question.
It sounds like you want to make an entire development of single family houses like this for family's with special needs children. What would you do if their special needs child ceases to live at home or passes away?
Have you considered the added cost for this restriction? This is a pretty unique restriction and I would think LESSEN the home's value considerably. So, when building or buying that could mean bringing considerably more money to put down.
The issue is going to be this type of restriction is likely to limit demand to buy. Unlike a senior community where there are TONS and TONS of seniors and plenty more becoming seniors all the time, your pool of buyers is much smaller I think.
I would think this could be accomplished with deed restrictions and/or an HOA. However, there are laws limiting the kinds of deed restrictions you can make like this. I don't think this would violate the federal laws, but who knows about your state's laws. Either way, this really needs a real estate lawyer in your state to discuss this with.