Anyone with experience regarding the HM condos for sale? PM me as my wife and I are looking at them.
Thanks!!
Thanks!!
HM Condo Sales
- Thread starter Carl_F
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I am replying to your inquiry publicly because this question comes up from time to time. I am not familiar with the details of the project and have no opinion on the developer or his/her integrity. I do suggest that you look at some of the details. I found what I believe to be the advertisement and have some observations.
(1) If there are any guarantees on income, I would look into those assurances and make sure you are comfortable with them.
(2) How are expenses figured into the calculations? Utilities can be quite high in Roatan, particularly electricity. Are allocations made towards reserves for maintenance?
(3) Is there a homeowners association? I know of one project on Roatan that specifically mentions that it has no HOA. That may or may not be good depending on the situation. If there is no HOA, who will monitor the funds, take care of reserves, etc?
(4) Is this already built or will the developer be building in stages? In such a case, do you have a reasonable confidence that the developer will complete the project?
I am not trying to steer you in one direction or another. It may be a great deal for you. Just do your due diligence.
(1) If there are any guarantees on income, I would look into those assurances and make sure you are comfortable with them.
(2) How are expenses figured into the calculations? Utilities can be quite high in Roatan, particularly electricity. Are allocations made towards reserves for maintenance?
(3) Is there a homeowners association? I know of one project on Roatan that specifically mentions that it has no HOA. That may or may not be good depending on the situation. If there is no HOA, who will monitor the funds, take care of reserves, etc?
(4) Is this already built or will the developer be building in stages? In such a case, do you have a reasonable confidence that the developer will complete the project?
I am not trying to steer you in one direction or another. It may be a great deal for you. Just do your due diligence.
OP
Thanks. Yeah, we're looking into all that. Just looking to see if anyone had any experience with HM. We know the place and will be back down there in September to check into further details.
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