What is HOA fee?

Asked by Marybeth, Greeley, CO Mon Mar 11, 2013

This question was asked from http://www.trulia.com/property/3025553829-8941-Veranda-Way-5…

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Tammy Hayes’ answer
Tammy Hayes, Agent, Port Charlotte, FL
Tue Mar 12, 2013
This condo is in Stoneybrook Verandas 2. Unit has been re-plumbed. One time capital contribution of $3,000 due at closing. $600/year club dining minimum. Stoneybrook Road annual fee $229.00 annual Palmer Ranch fee $167. Golf membership transfer fee $250mo if renting. The master HOA fee is $3613 per year and the condo HOA fee is $871 quarterly.

Community features: Asso Rec Own, Fees Req, Byr Appr Req, Fitness, Deed Restr, Golf Comm, Gated Comm, Mtnce Free, No Tk/RV/Mo Pk, Security, Tenants No Pet, Tennis Courts

Maintenance Includes: Bldg Exter, Comm Pool, Fidelity Bd, Ground Mtnce, Bldg Insur, Public Insur, Roof, Security, Tennis Court

Tammy Hayes, Realtor
RE/MAX Palm Realty
0 votes
Brian McGree…, Agent, Sarasota, FL
Mon Mar 11, 2013
The property you are asking about is in Stoneybrook, a golf course community in Sarasota's Palmer Ranch. There are two fees in this community. The "home owner's association" fee of $3,613/year covers the Stoneybrook development/golf course. There is also a $871/quarter fee which covers the actual condominium association of Stoneybrook Verandas 2.

If you have further questions feel free to call me directly. I sell many condominiums in Sarasota and more specifically Palmer Ranch. More importantly I specialize in condominium sales so I can probably provide both answers and guidance to help you find the right property for your needs.

Five Year Winner - Five Star Award- Best in Client Satisfaction
Sarasota Home Realty
2100 Constitution Boulevard
Sarasota, FL 34231

E-mail: SarasotaReal@gmail.com
Phone: (941) 544-6763 FAX: (941) 866-7588
0 votes
Charles Offer, Agent, Sarasota, FL
Mon Mar 11, 2013
The condominium association fee (condo maintenance) is $871 every three months. In addition, Stoneybrook Veranda owners must belong to Stoneybrook Golf And Country Club. The club has a $3000 capital contribution (initiation) that is due at closing, and annual dues are $3613. As is the case at many country clubs, there is also a $600 annual dining minimum. All things considered, this is a bargain for a beautiful country club with a highly-rated golf course.

All properties in Stoneybrook also pay $229 per year for the gated security and maintenance of Stoneybrook Boulevard, and $167 per year to the Palmer Ranch Master Homeowners Association.

I live in Stoneybrook, and have 10 years of experience selling homes and condos in the country club. I also know this particular unit very well. I listed and sold it when it was on the market in 2009. I would be happy to answer any questions that you may have, and to show you this and other condos in Stoneybrook and elsewhere.

Charles Offer
423 St. Armands Circle
Sarasota, FL 34238
(941) 321-9664
0 votes
Jennifer Vo…, Agent, Bradenton, FL
Mon Mar 11, 2013
It is a fee charged by a neighborhood association for the upkeep of common area such as entrances, signage, ameneties like pools and tennis courts. These are very common in Florida and are often confusing to buyers coming from other areas. The fees are typically paid monthly, but can be paid on other schedules as well. They vary considerably often depending on the amount of ameneties in your community. It is very important to understand these fees when purchasing. There are also CDD fees with some communities which added to your tax bill. These and condo fees or master association fees can be charged in addition to the HOA fee. I strongly encourage all buyers to locate a buyer's agent who can provide you with references to ensure that you are well informed on things such as this that you need to know before writing a contract to purchase a home or condo in Florida.
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