Homeowner’s Association Fee/Month--$414.13 (includes everything inc. utilities, insurance, etc.
1 Time Contribution for Insurance at Closing-$1405.85
Taxes are computed by this formula: Purchase Price x .06 x .2346
mileage rate
10% Down payment on Merrill Lynch Loan-may be negotiated depending on loan qualifications or different Lender (must be approved by ML for pre-qualification purposes or be prepared with an all cash proof of funds letter).
Monthly Payment paid for by developer for first year—subsequent years (depends on Loan that purchaser receives and rates at time of loan app.- Developer will pay equivalent of a 90%LTV, 5 year ARM
Buyer to receive Gross Rental and may opt for developer’s management program or not.
Past rental for The Tides and The Driftwood have averaged approximately $18,000-$20,000 per year gross. There is a 45% management fee if the developer manages within their comprehensive rental program. See vendor list for contact person and numbers. |
