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MAXUM · 08-01-2010, 09:14 AM

I remember about 10 years ago my brother was looking at a place that was for sale on RI, and the topic of the assoc came up. He opted not to buy partially because it was island property but he really did not like the assoc arrangement and for the life of me I don't recall the details. Of course I asked a listing agent about the specifics of the association and all I got was the mainland access and other than that it's no big deal. Um OK that may work for some but not me. Now don't get me wrong that's great and a HUGE thing that makes property on the island somewhat desirable over other islands. The question is what are the association's annual fees? I seem to recall that all properties on the island have membership in the association deeded? I also seemed to recall and I think this is what my brother did not like, any property transaction the association could have a hand in, I don't remember if it's some sort of approval process or what. I'm also assuming that there are some sort of covenants that may also be in play but can't get any specific details on any of this stuff. I guess these are unreasonable questions to ask the listing agent. After all I'm sure the market for the million dollar homes is keeping them way to busy to deal with a small time guy like myself

That's OK though, don't need to spend a million to get a piece of the pie which in my opinion is priceless unless you're on a budget!

08-01-2010, 09:14 AM	#30
MAXUM Senior Member Join Date: Apr 2004 Location: Kuna ID Posts: 2,755 Thanks: 246 Thanked 1,942 Times in 802 Posts	I remember about 10 years ago my brother was looking at a place that was for sale on RI, and the topic of the assoc came up. He opted not to buy partially because it was island property but he really did not like the assoc arrangement and for the life of me I don't recall the details. Of course I asked a listing agent about the specifics of the association and all I got was the mainland access and other than that it's no big deal. Um OK that may work for some but not me. Now don't get me wrong that's great and a HUGE thing that makes property on the island somewhat desirable over other islands. The question is what are the association's annual fees? I seem to recall that all properties on the island have membership in the association deeded? I also seemed to recall and I think this is what my brother did not like, any property transaction the association could have a hand in, I don't remember if it's some sort of approval process or what. I'm also assuming that there are some sort of covenants that may also be in play but can't get any specific details on any of this stuff. I guess these are unreasonable questions to ask the listing agent. After all I'm sure the market for the million dollar homes is keeping them way to busy to deal with a small time guy like myself That's OK though, don't need to spend a million to get a piece of the pie which in my opinion is priceless unless you're on a budget!