Re: flip tax
From: Oliveau (Oliveauaol.com)
Date: Tue, 13 Feb 2007 07:59:09 -0800 (PST)
 
In a message dated 2/11/2007 8:57:10 P.M. Eastern Standard Time,  
heidinys [at] earthlink.net writes:

I'd  appreciate getting examples of what you may be doing with this.    
If we've done this thread, let me know, and excuse my  not-remembering.



Hello Ruth,
    At Catoctin Creek Village we have a 1% resale fee  intended to add to 
community funds for buying new stuff.  These are  separate from the Capital 
Reserve funds which are for maintaining the stuff we  already have :-)  
First-time 
buyers each made a $4,000 contribution to HOA  funds.
    The fee is the responsibility of the purchaser and  is based on the sales 
price or fair market value, whichever is more.
    While I believe that the resale fee is important  for the long-term 
financial health of my community, enforcing it has  produced some stress for 
us.  
We have a case where someone who is not  interested in our community has 
purchased a resale lot, and is  resisting paying the fee.
 
I'd be happy to answer any question you might have,
-Kevin Oliveau
Catoctin Creek Village

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