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Old 06-04-2020, 07:45 AM
 
Location: South Carolina
14,479 posts, read 20,106,934 times
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We have relatives that are getting ready to start looking and they are really impressed with fairway village from looking at photos . Now this is a 55 + park and they have started looking at the homes and it is a land share and im not real sure how a land share works maybe someone on here might know . My aunt has a medical alert service dog and she has been okay'd for that because they cannot deny her entry because she has that issue . however i dont want to see them get stuck or be unhappy in this place , so please anyone who knows anything about this place please let me know the good and the bad . Yes they are working with a real estate agent but I have no idea how sharp or go getter she is . i just want to know so maybe i can help them a little . thanks in advance for any answers
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Old 06-05-2020, 09:23 AM
 
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Hello, I don’t know anything about that particular park but can give you some information on land share. I own in WestWind in Dunedin and it is a land share park as well. We own the property, basically, and only pay the monthly dues which for our park includes use of the clubhouse/pool/library/shuffleboard courts/small gym and yard maintenance. The value of the land can and most likely will go up in price. If she has the option to purchase with the share, I would go that route. The park cannot be sold unless a majority of the owners agree to have it sold (probably to a developer) so it is pretty safe. Part of our park has just a few remaining who do not own their share so their monthly dues are quite a bit higher as they are paying rent for the land. We pay property taxes on our share as well.

Usually, these parks will have many social activities that are going on so she will not get bored and everyone seems to look out for each other.
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Old 06-06-2020, 07:11 AM
 
Location: Spring Hill, Florida
3,108 posts, read 5,295,150 times
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Just a general piece of advice, regarding mobile homes in the area. Make sure your relatives have an evacuation plan. During hurricanes and such, mobile home parks are often under mandatory evacuation order.

https://www.pinellascounty.org/emergency/mobiletips.htm
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Old 06-10-2020, 10:22 AM
 
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By land share,do you mean "resident owned"? That term is a joke and is very misleading. Lot rents are a bit lower in RO parks, but you still don't own the land (which is why the term is misleading). The park can be sold at anytime, your rent can go up, anything can happen.

Please do not even have them consider a MH unless they OWN the land (Pasco has more options for this than Pinellas county).

Most parks allow pets, this wouldn't be an issue. But if she does buy in a park (as opposed to her own land), make sure it is in the "pet section." Many parks are divided that way. A few don't allow pets, but most do.
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Old 06-11-2020, 07:42 AM
 
Location: South Carolina
14,479 posts, read 20,106,934 times
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Quote:
Originally Posted by Eeko156 View Post
By land share,do you mean "resident owned"? That term is a joke and is very misleading. Lot rents are a bit lower in RO parks, but you still don't own the land (which is why the term is misleading). The park can be sold at anytime, your rent can go up, anything can happen.

Please do not even have them consider a MH unless they OWN the land (Pasco has more options for this than Pinellas county).

Most parks allow pets, this wouldn't be an issue. But if she does buy in a park (as opposed to her own land), make sure it is in the "pet section." Many parks are divided that way. A few don't allow pets, but most do.


im sorry but if you dont own the land then why is the county and state charging taxes on it ? I know about pasco county and i would not recommend that area to anyone . Most of that area floods really badly and they would not like it there but thanks anyways for your comment.
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Old 06-13-2020, 08:54 AM
 
1,956 posts, read 1,070,006 times
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It is a shady practice sometimes referred to as "pass on taxes" because they are "passed on" to the MH owners even though they don't own their plot of land.

You have not done enough research on this. I would strongly advise you to familiarize yourself with the difference between "resident owned (land share)" and a privately owned lot. You will find most of the ones in Pinellas county to be resident-owned. I think there is one in Oldsmar where you own the land.

https://www.point2homes.com/US/Home-.../90016006.html

"price includes the $ 55K share in the land."
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Old 06-13-2020, 08:58 AM
 
1,956 posts, read 1,070,006 times
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Here is one in Gull Aire in Oldsmar where you actually own the land (hence, the much higher price point):

https://www.realtor.com/realestatean...-31961?view=qv

Notice two things:

The listing will state that you will own the land (big selling point).
The listing will show the actual size of your lot - not the size of the lot of the park. For example, in this listing, 5,227sq ft lot.
In the Fairway ad, it states 125.39 Ac.
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Old 06-13-2020, 09:09 AM
 
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Here is High Point in Brooksville where you own the lot. I realize you probably are not looking that far north, I just wanted to post it as another example of a community where you actually own the land:

https://homesofhernando.com/communities/high-point/
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Old 06-14-2020, 12:58 PM
 
Location: South Carolina
14,479 posts, read 20,106,934 times
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Quote:
Originally Posted by Eeko156 View Post
Here is High Point in Brooksville where you own the lot. I realize you probably are not looking that far north, I just wanted to post it as another example of a community where you actually own the land:

https://homesofhernando.com/communities/high-point/


Hi are you in real estate ? you seem to know quite a bit about this and or do you or have you ever lived in one of these land share places ? just curious . My oldest brother is in real estate and im sure he has explained this with my relatives .
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Old 06-14-2020, 08:54 PM
 
Location: Spring Hill, Florida
3,108 posts, read 5,295,150 times
Reputation: 3421
Quote:
Originally Posted by Eeko156 View Post
Here is High Point in Brooksville where you own the lot. I realize you probably are not looking that far north, I just wanted to post it as another example of a community where you actually own the land:

https://homesofhernando.com/communities/high-point/

High Point is a great development, so is Brookridge down the road.
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