Real Estate | MICHA

For Real Estate Agents and Units in Transfer

Current Members in the Process of Selling - Fill out the two forms below. Email a copy of your Driver's License to realestate@michafl.org for verification. The office will not process the form until it receives the Driver's License copy as verification. The Maintenace team will also be notified to set a time to do a walkthrough of your unit to fill out a property disclosure and asses the condition of the unit.

For perspective new members - please be aware MICHA has minimum standards for approval when it comes to credit and criminal background:

1. Minimum credit score of 650 (scores can be averaged if two or more applicants)
2. No charge-offs over $500 in the last ten years. Applies to all applicants.
3. No bankruptcies in the last ten years. Applies to all applicants.
4. No reported evictions. Applies to all applicants.
5. A carrying fee to income ratio of no more than 30%. Applies to all applicants.
6. No violent felonies in the past ten years.
7. No registered sex offenders.

Helpful Links Explaining Cooperatives and the Differences between a Co-Op and a Condo - Courtesy of Quicken Loans:
https://www.rocketmortgage.com/learn/what-is-co-op

https://www.rocketmortgage.com/learn/condo-vs-coop

For perspective new members - please read the FAQ Doc below then statement below that and sign via electronic signature. You can then proceed to the application:

To Perspective Members:

Good cause for disapproval by the Association (through the Board of Directors or the Review Committee) of any prospective transfer of a membership to potential purchaser shall include, but not be limited to, the following violating behaviors:

* The applicant(s) seeking approval have failed to submit a Membership Application form, as promulgated by the Board of Directors or the Review Committee, or have submitted an incomplete Membership Application form.

* The applicant(s) seeking approval have materially misrepresented or falsified any fact or information upon the Membership Application form, or otherwise in the review process, such as misidentifying the persons who shall occupy the unit (occupants must be listed and their occupancies reviewed and approved).

* Credit, income, eviction or criminal history concerns.

* The applicant(s) seeking approval, or the seller on their behalf have failed to pay any transfer fee levied by the Association.

* The applicant(s) seeking approval have failed to make an appointment for or to attend a Review Committee screening.

* The applicant(s) seeking approval have not agreed to, or failed to provide or release any background investigation or reports that may be required by the association in its review of the proposed transfer.

* Moreover, after association initial approval of membership transfer; the association retains the authority to subsequently disapprove said transfer upon any discovery of good cause for disapproval. In this regard, the association may take advantage of all equitable remedies available to it including, but not limited to (1) transferring the membership back to the association, (2) ejecting, evicting or otherwise dispossessing occupants from the unit and (3) bringing legal or equitable action against the occupants for all association costs in such actions or any other remedies available to reverse transfer.

Applicant Name 1

Applicant Name 2

Date

Merritt Island Cooperative Housing Association

A Member Owned Community

For Real Estate Agents and Units in Transfer

MICHA Member Intent to Inform & Authorize MICHA to Process Action

MICHA Member Notice to Terminate Occupancy

For perspective new members - please be aware MICHA has minimum standards for approval when it comes to credit and criminal background:

For perspective new members - please read the FAQ Doc below then statement below that and sign via electronic signature. You can then proceed to the application:

MICHA New Member Application
In the event there is a co-applicant, the application must be filled out twice - once by the applicant and once by the co-applicant so both are on file.

Click on Next button to continue to Employment

For Real Estate Agents and Units in Transfer

MICHA Member Intent to Inform & Authorize MICHA to Process Action

MICHA Member Notice to Terminate Occupancy

For perspective new members - please be aware MICHA has minimum standards for approval when it comes to credit and criminal background:

For perspective new members - please read the FAQ Doc below then statement below that and sign via electronic signature. You can then proceed to the application:

MICHA New Member Application In the event there is a co-applicant, the application must be filled out twice - once by the applicant and once by the co-applicant so both are on file.

Click on Next button to continue to Employment

MICHA New Member Application
In the event there is a co-applicant, the application must be filled out twice - once by the applicant and once by the co-applicant so both are on file.