Comments on: Proper Use of Reserves?

By: YourMoveHome.com

YourMoveHome.com — Mon, 03 Mar 2008 10:38:19 +0000

While I agree with you on the issue of additional closing costs for a buyer not being the way to go - if this gets passed, then it will be us sellers paying this fee. Some of us are calling it the “Exit Fee”! During this “dip” or slump, we need to keep in mind that there are less than 10 homes right now in “pending sale” status. We do not need any further negative issues facing this market at this time. Thanks for reminding us of this with your comments.

By: Diane Peevy

Diane Peevy — Sun, 02 Mar 2008 23:54:44 +0000

The real estate market is hurting enough without adding to the closing costs for a buyer! What this tells the buyer is that the Big Canoe POA has mismanaged funds and needs to build up reserves. That brings up a big red flag as to what for! It would seem a lot more fair if monthly fees are increased for everyone. Current and future Buyer’s should not have to pay a “surcharge” for previous financial decisions of the POA. I would certainly hope that the idea of an impact fee for new buyers is not imposed!

By: Bob Moser

Bob Moser — Sun, 02 Mar 2008 23:30:33 +0000

Jim,
I agree with your philosophy. I also feel it is a poor introduction of our community when we are asking for funds to help finish the projects we started. It’s equivalent to being caught with your pants down.