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: 4,260 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.
" "We actually lucked into Kelly via a flyer in front of a house in Kill Devil Hills that was for sale a couple of years ago. We contacted her last fall when we were ready to look at beach houses. She immediately responded and I don't see how our experience could have been better. She provided many showings of houses that fit our criteria, answered every question quickly and accurately, and led us seamlessly through the buying and negotiation process. She provided us with many contacts for services after we bought the house and has also helped us dispose of some items in the house that we didn't want. I highly recommend her to anyone looking to buy a house in OBX. Scott Schoedler""