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Old 04-09-2014, 12:51 PM
 
2 posts, read 3,578 times
Reputation: 16

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I'm looking to buy and build there too but found out there is a 5% hidden fee to build in Compass Pointe. The current residents were not told about it. Seems word is getting around now and that 5% hidden fee is on top of your "real" home price. If a builder tells you the price for your new home is $300,000, the real price is $286,000. So you are actually paying the builder $14,000 of you hard earned money so he can give it to the developer. If you have a budget for your home, your being put over that budget for something you will never get in return. The home becomes overvalued. Any way around this?
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Old 04-09-2014, 01:23 PM
 
Location: Sneads Ferry, NC
11,261 posts, read 19,800,542 times
Reputation: 5088
Quote:
Originally Posted by rusty nail View Post
I'm looking to buy and build there too but found out there is a 5% hidden fee to build in Compass Pointe.....Any way around this?
What is the nature of that fee?

I have heard of a similar fee in another development. It was sort of an "advertising fee" because the builder was promoted on the development's web site. I think about the only way around that fee would be to contact builders directly, not through the developers web site and not through their office.

On the other hand, if it is a "development fee" to pay for connecting to sewer, water and infrastructure, then there is no way around it. You might want to use a Realtor as a buyer's agent.

Last edited by goldenage1; 04-09-2014 at 01:44 PM..
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Old 04-22-2014, 02:04 PM
 
2 posts, read 3,578 times
Reputation: 16
the developer is charging ea builder the 5% and they are in turn adding it to the price of YOUR home because they do not want to pay for it out of their pocket. they are not telling you about it unless you know about it and then they still will tell you that it is being added to the price of your home because the developer wants to use it to pay for their events!!! it has nothing to do with connection fees in fact that is another charge you should be aware of in addition to this 5% deal.
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Old 10-05-2018, 03:56 PM
 
50 posts, read 104,781 times
Reputation: 27
compass pointe sounds like a lot of developments all over the SE. Is it a senior citizens place or families?
IM not one for the DelWebb lifestyle, but maybe this place.
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Old 10-05-2018, 04:25 PM
 
6,800 posts, read 4,450,910 times
Reputation: 5345
Quote:
Originally Posted by Alansd View Post
compass pointe sounds like a lot of developments all over the SE. Is it a senior citizens place or families?
IM not one for the DelWebb lifestyle, but maybe this place.
Mostly retirees.
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