What is the procedure?
After your review of the marketing information
contained herein we will send you a contract for your review and execution.
What are your general contract terms?
We start with an executed contract
and a refundable deposit of $10,000. Over the next 45 to 60 days you
are to make the arrangements for your financing and meet or speak with
our design staff about the interior of your building. At the end of
the specified time period, the deposit is increased to somewhere between
5% and 10% of the total contract which is again refundable in the event
you do not move forward for any reason.
What will the taxes be on my building?
As you know several things
are certain, one being that tax rates constantly change, that being
said we currently estimate that taxes will be approximately $1.50 per
year per square foot. However it is important that you do your
own research. Pasco County has a website that will assist you
in calculating the tax rate for your building. Visit http://appraiser.pascogov.com.
What will my common area/maintenance charges be for my building?
While
we cannot be certain as we have yet to receive any billings or prices
on landscape service, garbage collection or common electric, we can estimate
from prior experience approximately $1.50 per square foot per year. The
Board of Directors of the Association will set the exact charges after
it takes over the operation of the park.
Are there any other charges?
There are no other common area charges.
The other expenses that you will incur are the general expenses of
property ownership, which include electricity, water, insurance,
property taxes, etc. There are no CDD charges associated with any of
our projects.
What do I own when I buy my building?
You will have fee simple ownership
of the structure and the footprint it stands on. You will also have
a percentage of ownership of all of the common areas of the park as
further defined in the Association documentation.
Who manages the common area?
The common area is managed by an Association
set up for that purpose. Each building owner is a member of the Association.
The Association elects a Board of Directors to make decisions and manage
the common areas.
When will the buildings be ready?
The start of the development is determined by the date we get the site
development permits issued by the county. Site development generally
takes about four to six months and building construction can be done
simultaneously with site development. Building construction takes approximately
six months. See “Project Status” on the toolbar for site-specific
completion dates.
Do you have recommended lenders for the project?
Included in this
marketing package we have attached a list for lenders familiar with
our product and the various financing options. Of course you
can choose any lender that best suits your needs.
Can you provide design / architectural help?
We provide architectural
and design assistance at no additional cost. We have numerous floor
plans that we can show you to give you suggestions and a place to begin
in the design process. For our investor customers, we have floor plan
options specifically designed for your needs that you can use or modify
as you desire.
As an investor, how much rent can I expect?
Rental rates vary from
property to property and depend upon many factors, including how much
rental space is otherwise available in the surrounding marketplace.
With that in mind, rental rates generally quoted for this type of property
range from $ 17.00 to $ 23.00 per square foot per year, triple net.
Triple net means that the tenant picks up the expenses of the building
in addition to paying the rent.
Do you handle rentals?
We do handle rentals. Although we are in the business of selling completed
buildings, we also offer flexible leasing terms like lease-to-own as
well as build to suit with generous allowances. With our lease-to-own
package, a percentage of your rent will be credited toward the purchase
price of your building. We will also set up a contract for you that holds
the sale price of the building for a mutually beneficial period of time.
|
