Before leaving the SKP Saguaro Co-Op Park a couple of weeks ago, we put ourselves on the "hot list" to be eligible to become leaseholders at the park.
As I understand it, the way it works is: we pay $20 administrative fee plus $500 fee to go onto the hot list. Each Saturday, lots that are available are posted on their website; they are initially made available to current leaseholders (someone who already has a lot who wants to change to a different lot). If no one of the current leaseholders wants the lots, they are then made available for folks on the hot list. Anyone on the hot list can indicate that they are interested in a lot on the Saturday when the lot is available - there are specific times to call in. Once the end time is reached, the office folks contact the person with the lowest hot list number and they get the opportunity to purchase their choice of the available lots. Then the person with the next lowest number, etc., until all the lots have been claimed. By this method, the very last person on the hot list has the potential of being able to get a lot, as long as they call in on Saturdays and no one with a lower number wanted the lot that they want.
From what I have heard, a method to get the lot you want is to get any lot, and then, as a leaseholder, you have first dibs over anyone on the hot list. If you do that though, you have to first purchase the new lot, and then put your lot on the available list - so you have to own two lots for a period of time (i.e. you wouldn't have the funds from the old lot to pay for the new one, so if you didn't have cash available, you'd need to at least get a short term loan).
When we signed up, we were #266 on the hot list. We are now #265 and there are two other folks who have joined the list since we did.
There is no "bidding" or "lower offer". The price is the price; it is the price of the lot + the cost of improvements that have been made on the lot. The current owner needs to keep the improvements (e.g. casita) in good shape or must make it good before it can go on the "available lots" list. I asked if there was ever a situation when a casita was in such poor shape that it needed to be torn down, and the answer was yes, that has happened. In that case, the value of that particular "improvement" to the lot is removed from the lot value - but, for example, if there was a foundation poured, and it remains, then that value remains on the lot.
If we become leaseholders, and then decide to no longer be leaseholders, we would get back what we have put into the lot (what we paid + cost of any improvements to the lot) but no appreciation in value. As leaseholders, we pay annual Maintenance and Operations fees (I think about $900/year right now). If we decide to take ourselves off the hot list, we will get the $500 back. If we buy a lot, the $500 applies to the buy-in price.
There were no lots on the available list over the holidays, but there are two lots listed right now on their available lots list:
http://skpsaguaro.org/lots-available.html
I notice that one of the lots indicates that a "general assessment" fee of $101 is due; the other one (with a casita) indicates M&O, general assessment, and property taxes, but not specific amounts.
I had kinda thought we might want a bare lot - and one of the two currently available is a bare lot. Since the lots aren't open to hot list buyers yet, I'm not thinking about any action to take. I think they change to hot list available on Saturday if no current leaseholder wanted either lot. We're not in any hurry - in fact, I'm thinking that we should try wintering there on a rental lot before we actually purchase... but we'll see!
No comments:
Post a Comment