What are the requirements for purchasing?
Like any other real estate transaction – the purchase of a dockominium or rackominium is no different. The requirements do differ a little depending on whether your interest lies as a slip owner looking for a permanent home for his boat, as an income or investment property. For Boaters: There are at least two ways to purchase a slip or rack. 1. Straight Purchase – A $1,000 to $10,000 (depending on the property) escrow deposit will reserve a slip, rack or villa suite; the balance will be due at closing, which includes a warranty deed, license agreement and title policy. 2. Participation Purchase – Occassionally, Discounts up to 20% are made available to buyer’s on their slip or rack purchases to help us fund a portion of the development of the marina. In this instance, a 60% deposit is paid with the purchase contract; the balance is due two weeks prior to closing, which includes warranty deed, license agreement and title policy. Note: This is not an escrow deposit. The deposit will be h
