FREQUENTLY ASKED QUESTIONS

Q: Where do you have lots available?

A: We have lots in Moorlands Manor, PalmBrook Estate and WhiteHouse Beach Club

Q: What size lots are available?

A: Lot sizes range from 1/4 acre to 3/4 acre

Q: How much deposit am I required to make to start the purchase process?

A: Cash Transaction – A deposit of twenty-five percent (25%) of the cost of the lot is required

Mortgage – A deposit of the difference between the cost of the lot and the loan is required. Eg. If the financing is 90% of the cost of the lot, then a deposit of 10% of the cost of the lot is required

Q: How long does the transaction take?

A: Approximately Ninety (90) days

Q: Do I need an attorney?

A: We recommend that you get one.

Q: What is the cost to hire an attorney?

A: An attorney may charge a percentage of the cost of the transaction, generally between 3-5%.

Q: Are there closing costs?

A: Yes.

Q: What do the closing costs include?

A: These are costs shared equally between the purchaser and the vendor. These include:

  • Drafting of the sale and maintenance agreement (Approx. $80,000)
  • Stamp duty (Approx. 4% of the cost of the lot)
  • Registration (Approx. 0.5% of the cost of the lot)
Q: What is my total charge for the purchase of a lot costing $4 million?

A: With your attorney’s fee estimated at 3% of the cost of the lot – $120,000
Half cost of drafting sale and maintenance agreement – $40,000
Stamp Duty estimated at 2% of the cost of the lot – $80,000
Registration estimated at 0.25% of the cost of the lot – $10,000
Total additional charge – $250,000
Total cost – $4,250,000

Q: What does the price for WhiteHouse Beach Club include?

A: The price includes the cost to purchase the ¼ acre lot and the cost to construct one of the six villa designs

Q: Am I still required to pay HOA fees if I do not reside in the development?

A: Yes.

Q: Do I have to build one of the six villa designs at WhiteHouse Beach Club?

A: Yes.

We strive to build and operate our properties in a sustainable manner.

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