SEAL BEACH LEISURE WORLD is a Stock cooperative. That means ownership of a unit that is represented by a share of stock and a membership in the Golden Rain Foundation.
There are 6,608 units, of which 126 are condominiums, in the development of 533 acres; occupied by nine to ten thousand residents.
TO BUY Leisure World Properties Seal Beach CA...
To qualify, one of the buyers must be 55 years of age. A deposit is required to make an offer. All sales are CASH; no financing is permitted with the exception of Condominiums.
Verification of Income, Savings, and assets are required for qualification. The Rule of Thumb for requirement is an assured income of four times the monthly charges, plus a reserve of $25,000 which does not have to be liquid.
It is the responsibility of the buyers to provide a Physician Letter stating "Health and the Ability to Care for Ones-Self". The Original Copy must be signed by your attending physician on letterhead and submitted before the opening of Escrow.
There is a One-Time Membership Fee to the Golden Rain Foundation.