By Karen Billing
The main house on the Rancho Santa Fe Association-owned Osuna Property has sold and the RSF Association board approved the sale at its March 21 meeting. The 3.3-acre property is currently in escrow for $1,750,000, according to Assistant Manager Ivan Holler.
Between May 2012 and February 2013, the RSF Association received several offers on the property and entered escrow with three prospective buyers. The first two failed to remove their contingencies and their escrows were cancelled. The current buyer removed its contingencies on March 8.
The sale will not become effective until 30 days after written notice is sent to all members of the Association. During that time, members have the opportunity to oppose the sale by submitting a petition signed by 100 voting members, forcing a Covenant-wide vote. The notice was sent March 22 and if no opposition is received in those 30 days, the escrow can close anytime after.
RSF Association Manager Pete Smith said that while the name of the buyer cannot be made public yet, the buyer “is a family that intends to live in the home.”