Many people are interested in owning a piece of the beach for less than $100,000. Buy the Beach Realty OBX would like to provide you with some
additional information about a co-ownership home. Most co-ownerships involve owning 5 weeks of the year
in that home with ten owners. The weeks are set and are divided by season -
peak, off season and shoulder. Usually two of the 5 weeks are consecutive. Two
weeks of the year may be blocked for maintenance and cleaning of the home.
The co-owned homes run on a rotation for the
designated weeks. The Home Owners Association will send a notice at least a
year in advance of which weeks you will be assigned. For example once
every 5 years you will get the 4th of July. It rotates every year.
It is not like a time share you will actually co-own the
home. In most cases, co-ownership cannot be financed with a home mortgage
loan. Simply, because one owner's mortgage default might imperil the other owners.
All maintenance is usually done by the
Association: that includes cleaning, new roof or deck when necessary, etc. There is a monthly fee and it usually covers electricity, water/sewer, taxes,
insurance, maintenance, housekeeping, cable, internet, & phone depending on
Author:Kelly Dean Phone: 252-207-3655 Dated: January 25th 2014 Views: 4,005 About Kelly: Recently featured on HGTV's Beachfront Bargain Hunt in Kill Devil Hills and Nags Head. Whether you ...
We are a new company on the beach, but bring over 20 years of experience and knowledge to you. Specializing in first time home buyers, second homes, investment and vacation properties we can find the perfect Outer Banks home to fit your needs . From Corolla to Hatteras, we will patiently guide you each step of the way from the first showing, through the closing and every step in between.
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"KELLY DEAN 5/5 I recommend Kelly Dean for anyone needing a realtor in the outer banks area. Kelly is responsive and works hard to meet the needs of her clients. Kelly worked with my family for months trying to locate just the right property for our second home. She went above and beyond to find answers to questions that we had about properties and about the area. She didn't hesitate to provide information about and explore a variety of homes and locations until we found the right fit. Kelly is very skilled when dealing with buyers and sellers and helped make our negotiation process go smoothly. She also helped connect us to important service providers in the area to make our transition as outer banks homeowners so much easier. Kelly Dean is the realtor to choose for the outer banks area."