Buying Property in Briny Breezes is a Breeze with Real Estate Broker James M. Arena.
Frequently Asked Questions:
Do I own or lease the land?
A: You own shares the corporation and those shares are attached to your parcel. You get an official stock certificate, title to the property and have to pay Real Estate Property Taxes and you also will get a title to your mobile home which will is very similar to owning a car so the title will need to be kept active as well.
How much is the monthly dues?
A: Assessments are paid quarterly and are around $90 per share annually. The majority of units have between 24 and 46 shares and you will be provided this information by the seller.
How many total shares does Briny Breezes Inc. have?
A: 15,7016 total outstanding shares (Approximately)
Can the entire property (43 Acres) be sold and for how much?
A: The entire property can be purchased if an offer is submitted and accepted by 80% of the community by way of vote. The speculative purchase price would be around $1,000,000,000.00 (One Billion Dollars). There is no guarantee the entire property will ever sell and nobody knows how much it will sell for if it does sell but the community did have an offer in 2006 for $510,000,000.00 that was accepted and then fell apart.