Labauer

KirkW….The builders already set up the HOA Declarations which, in my past experience buying condos/houses in new developments, they are required to do to establish rules including voting rights, when development is turned over to homeowners, etc. because the builder is in charge until there is either a majority or all units are sold. Right now 12 of the 37 units are under contract and 4 more are pending a contract.

Great info.! Thank you. Did you convert the 3 year loan through the same bank? When you say fully amortized does that mean a conventional loan? Is Roxanne local in Rockport or through Mille Insurance nationally?

Unfortunately HOA is not established yet as the rv park is being built. The broker doesn’t have any referrals other that the commercial lender who is offering financing because they are financing the build. It’s not the best deal so we are looking for something else. Have let the broker know of our search and the only other referral was to the two local banks on the island. She’s the one who filled out contract with 30 year conventional loan financing so it appears she doesn’t understand the rv park and lot builds.

Thank you for the response. Was your first lot in a park where amenities were built on the lot like an outdoor kitchen, etc.? So far even local banks won’t finance because it’s not a vacant lot which could be built up at one time. HOA requires insurance to cover everything on the lot from cement pads to firepit to palapa to kitchen as those item will belong to us not the HOA and we will be responsible for damages and liability.

We have a contract on a rv site being built in a new rv park. The lot will be deeded. Thought financing would be easy through a conventional loan. Not the case. Since the land will be “developed” with amenities but not sticks/brick house we can’t find a lender that has any financing for this situation. The same thing with finding insurance for the site. Has anyone faced this problem when buying into a deeded lot rv park? How did you finance? How did you insure? Any recommendations of lenders and insurance companies? Thank you