Home Buying in Bethany Beach>Question Details

Gattis, Home Buyer in Bethany Beach, DE

Are HOA fees in Sea Colony $2112.00 per year or per month?

Asked by Gattis, Bethany Beach, DE Tue Sep 21, 2010

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Sarah French’s answer
The $2112 is the annual recreation fee that all owners pay. It maintains and staffs all the amenities, allows family and guests to use the amenities and provides for 24 hour, year-round security. In addition, each owner pays a condo fee that is different for every property, depending on location and size. This covers such items as exterior maintenance, landscaping, master insurance policys (fire, flood & hazzard), trash, cable, internet, water and common area maintenance. Lastly, all of the properties at SC are sold with a 99 year ground lease that began when the property was first built. This fee varies, but never exceeds $2,000 per year. You can also buy out the ground lease at any time. If you would like more detailed information, please don't hesitate to contact me. Sarah French, Long & Foster, Cell 410-430-5421
0 votes Thank Flag Link Tue Sep 21, 2010

The Fee is an annual fee that covers the amenities, there is a annual HOA, which varies depending on the home in Sea Colony. Also, there is Ground Rent, Sewer/Water and electric. If you have a specific type of property in Sea Colony East or West, I would be happy to go over the expenses, and potential rental income. Please contact me directly.

Thank you,

Brendan Garfield Crotty

Cell (302)858-3234

President Southern Sussex Rotary 2009 - 2010

E-mail: Brendan@BrendanGarfieldCrotty.com

Website: http://www.BrendanGarfieldCrotty.com

ResortQuest Real Estate
(302) 541 - 8778
(302) 539 - 8600
33012 Coastal Highway
Bethany Beach, DE 19930
0 votes Thank Flag Link Thu Sep 23, 2010
Sea Colony is consider Condo's and financing options are still there just harder with underwriters. The HOA Fee and Condo Fees are used as debt when qualifying your income to debt for the loan. My office is right next to McDonalds on Rt1.

I can create a one page side by side loan comparsion that my clients use for their decision process - ask about Seller Paid Buydown and Seller Paid Closing cost loans.

Steve Morgan
Fairfax Mortgage Investments
Web Reference: http://www.steve-morgan.com
0 votes Thank Flag Link Tue Sep 21, 2010
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