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Old 02-10-2017, 12:50 AM
 
72 posts, read 139,483 times
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A question of curiosity. Though we won't be moving down to the Nokomis area for some time yet, I do keep a constant eye on houses for sale in the area.

There's now a house for sale in Osprey which contains the following line in it's sale description: "Only six lots on the private road w/recorded maintenance agreement."

This is the first time that I can recall seeing this in a house listing. Can any of the Real Estate experts here shed any light on what this means? Lower down on the description page, it states that there is no HOA. So who or what would this "recorded maintenance agreement" be with?

(I know I could contact the listing agent, but I don't want to get an agent's hopes up for a sale since we won't actually be moving just yet.)
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Old 02-10-2017, 04:32 AM
 
Location: Lakewood Ranch, FL
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I can guess but I think the best way to find out is to do a search on the Clerk of the Court website for the recorded document and read what it says.
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Old 02-10-2017, 05:52 AM
 
Location: Sarasota/ Bradenton - University Pkwy area
4,607 posts, read 7,521,513 times
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When there is a private road, lenders want to see some sort of maintenance agreement for care of that private road by the homeowners. The agent is letting buyers know that there is such an agreement in place.
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Old 02-10-2017, 10:14 PM
 
72 posts, read 139,483 times
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Thank you for the information, Sunshine Rules.
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Old 02-11-2017, 06:33 PM
 
Location: Sarasota FL
6,864 posts, read 12,066,468 times
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The agreement probably means that if a neighbor has a 18" diameter section of asphalt disintegrate on the street in front of their home, calls for repair and it costs $600, you will receive a $100 repair bill. And if you don't pay it, a lien will be placed on your home.
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