Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Ocala
 [Register]
Ocala Marion County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-30-2017, 03:13 PM
 
5,687 posts, read 7,113,793 times
Reputation: 4326

Advertisements

Quote:
Originally Posted by rjm1cc View Post
Yes, and OTOW has none. Sill subsidized by builder, but you are correct to understand this and to be carefull if the community does not have a reserve. You can also ask about delinquent home owners, foreclosures etc. Good idea as a lot of communities could have financial problems.
Do you know when they are due to turn over to the residents? Or will the developer continue to retain an interest like Oak Run and Cherrywood?
Reply With Quote Quick reply to this message

 
Old 12-30-2017, 05:25 PM
 
Location: Florida
6,593 posts, read 7,241,569 times
Reputation: 8102
Quote:
Originally Posted by kmarc View Post
Do you know when they are due to turn over to the residents? Or will the developer continue to retain an interest like Oak Run and Cherrywood?
No. But you can think of OTOW as running under two different methods. In some sections you rent the ground for 99 years. Outside maintenance is mostly done by the builder. This is reflected in the monthly fees. I think the idea was if owners had financial problems the builder could step in and maintain the property. So for those sections I do not think they will ever be turned over. The other section you buy the land. I think that section is about 50% done and will probably be turned over in 5 to 7 years. Remember I started with a no so check with the sales department if this is critical.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Ocala

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top