[Bearcat]

Originally Posted by Rain Man

I guess the owner needs to review all angles of him/herself for maximum grooming.

I'm thinking, though, that this house might be a trap. I was worried about required country club memberships and didn't see it, plus it's got a pretty high monthly HOA fee of $895. So I figured that it wasn't one of those properties. But looking a little more closely, it seems to be in a development that's linked to a country club.

The fees are extortionary. This is from a five year old article, so I suspect now you'd have to pay $55,000 up front and then another $12,000 a year in fees. And that's on top of the $895 monthly HOA fee. It's a direct requirement to own the house.

https://www.palmbeachpost.com/articl...per%20quarter.

New homeowners must pay a non-refundable $10,000 initiation fee and purchase an equity stake in the club, which currently costs $41,450. The equity stake increases in price by $850 a year, but residents who sell their homes get back 70 percent of the going rate for the equity stake at the time they sell the property.

Residents also must pay yearly for one of three levels of membership: the golf membership, which costs $10,665; the tennis membership ($9,181) or the social membership ($8,439). Each neighborhood association charges its own fees, which range from about $1,200 to $2,000 per quarter. On a monthly basis, residents pay $221 to the club to cover the cost of common area upkeep and of renovations.

So it's a great house and seems like a screaming deal. But I think it's a screaming deal because the developer is pulling a ton of money out of you every year beyond the purchase price, and that drives down the home value. I think I'd need to find a different place in Delray Beach.

Holy shit!

Most HOAs are scammy enough.... even if I had that kind of money, I'd really be curious where the hell all of that was going.