Home Buying in 07462>Question Details

corybmarks, Home Buyer in Vernon, NJ

Any thoughts on buying into Black Creek development for second home. Also, what's with the 2% buyer fee on top of the list price for the association?

Asked by corybmarks, Vernon, NJ Mon Apr 29, 2013

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When someone purchases a unit at Mountain Creek/Black Creek they become a member of two
associations, in this case the Black Creek Sanctuary Homeowner Association and the Mountain Creek Association.

At closing the buyer must pay to the Mountain Creek Association a Real Estate Assessment of 2% and a capital contribution (at least $250, may have gone up). I believe that the fee due to the Black Creek Homeowner Association is a capital contribution of three months dues.

If an owner wishes to put their unit in the rental program, they would do this through Mountain Creek Management. I believe the split is 50/50, but there are fees that come out first.

Please let me know if you have any further questions.
0 votes Thank Flag Link Tue Apr 30, 2013
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