The Cottages of Salt Springs Resort,
A Condominium
What is the Cottages of Salt Springs Resort, A Condominium?
The Cottages at Salt Springs Resort is a two phased conversion condominium in the gated community, Salt Springs Resort, in Salt Springs, Florida.Phase 1 consists of 39 "AS IS" cottages and the surrounding common property. A copy of the site map is attached as Appendix C and D. "AS IS" refers to the state of cottage, and all furnishings.
Furthermore, the developer has filed a Phase II development plan involving the proposed new construction of 12 similar cottages subject to final state approvals. The phase II cottages are identified as "dark" cottages on the site plan.
What does A Condominium mean?
As a cottage owner in the condominium, you will receive deeded title for the interior of your cottage and become a member of the Condominium Association with accompanying rights and obligations. The primary purpose of the Association is to provide for maintenance of the exteriors of the cottages and the portions of the property known as common areas.
What are my rights under A Condominium?
As a cottage owner, you will receive all contents, fixtures and appliances in the cottage at the time of closing. After closing, owners can improve or modify all interiors at their pleasure. All cottages have new roofing, siding, windows, exterior doors, screened porches and air conditioning units. Furthermore, as a cottage owner, you will have access to all amenities and recreation areas of the property and an assigned self storage unit in the Salt Springs Self Storage facility.
What are my obligations?
As a member of the Condominium Association, you are required to pay the quarterly association dues, as follows:
Unit A $652.89
Unit B $651.25
Unit C $620.50
The fee includes:
- Maintenance of the exterior of the cottage, roads and
common areas
- Insurance on the cottage buildings but not the household effects and the interior
- Basic cable TV
- Two assigned parking spaces
- Garbage removal
- Security
- Wireless internet access
- Reserves for replacement of capital assets
In addition, membership in the Salt Springs Recreation Club provides you access to all amenities and recreation areas of the property including 10 acre along Little Lake Kerr, the 10,000 square foot lodge and 2 swimming pools.
The mandatory quarterly fee for membership in the Salt Springs Recreation Club is $84.09 (subject to change).
Each cottage owner will have a designated 5’ x 8’ climate controlled self storage unit in the Salt Springs Self Storage facility located in the Salt Springs Plaza.
The mandatory quarterly fee for the Salt Springs Self Storage facility is $84.00 plus tax.
Finally, a cottage owner is responsible for property taxes and metered utilities including electricity, water, sewage, natural gas and telephone.
How do I choose a cottage?
Cottages are now available for inspection. The cottages are sold on an “AS IS” basis, meaning all appliances and furnishings are included in the purchase price and the developer makes no representations or warranties, other than those required by statute, as to the condition of the cottage. The three different floor plans are represented by: Unit A - 661 gross square feet (34 units), Unit B – 720 gross square feet (4 units) and Unit C - 680 gross square feet (1 unit). For pricing see Appendix E.
Is Financing available?
Several banks, including Wachovia Bank and Community Bank & Trust of Florida have expressed interest in financing prospective purchasers. Contact names and telephone numbers will be provided.
Is there a rental program?
Elite Resorts at Salt Springs, manager of the Condominium Association, will act as Rental Management Agent for those owners wishing to use our Rental Pool. There is no obligation to use this service, and owners may choose to rent their cottage independently. During the fiscal year July 1,2004 to June 30,2005, the cottages were rented on average 60% of the time with an Average Daily Rate (“ADR”) of $60.00.
What is the annual property tax?
The estimated annual property tax per cottage is $1,500.
How do I get more information?
Further information can be obtained by calling (800) 356-2460 between 9AM and 5PM Monday through Saturday.
Price List
| |
Gross Square
Feet |
Unit |
| Lakeside Cotttage |
| 39 |
$249,900.00 |
680 |
C |
|
| Lakefront Cottages |
| 1 |
$149,900.00 |
661 |
A |
| 2 |
$149,900.00 |
661 |
A |
| 20 |
$149,900.00 |
661 |
A |
| 21 |
SOLD |
720 |
B |
| 22 |
$154,900.00 |
720 |
B |
| 23 |
$154,900.00 |
720 |
B |
|
| Lakeview Cottages |
| 3 |
$134,900.00 |
661 |
A |
| 4 |
$134,900.00 |
661 |
A |
| 5 |
$134,900.00 |
661 |
A |
| 6 |
$134,900.00 |
661 |
A |
| 7 |
$134,900.00 |
661 |
A |
| 8 |
$134,900.00 |
661 |
A |
| 9 |
$134,900.00 |
661 |
A |
| 10 |
$134,900.00 |
661 |
A |
| 24 |
SOLD |
720 |
B |
|
| Deluxe Cottages |
| 11 |
$124,900.00 |
661 |
A |
| 12 |
$124,900.00 |
661 |
A |
| 13 |
$124,900.00 |
661 |
A |
| 14 |
$124,900.00 |
661 |
A |
| 15 |
$124,900.00 |
661 |
A |
| 16 |
$124,900.00 |
661 |
A |
| 17 |
SOLD |
661 |
A |
| 18 |
$124,900.00 |
661 |
A |
| 19 |
SOLD |
661 |
A |
| 25 |
$124,900.00 |
661 |
A |
| 26 |
$124,900.00 |
661 |
A |
| 27 |
$124,900.00 |
661 |
A |
| 28 |
$124,900.00 |
661 |
A |
| 29 |
$124,900.00 |
661 |
A |
| 30 |
$124,900.00 |
661 |
A |
| 31 |
$124,900.00 |
661 |
A |
| 32 |
$124,900.00 |
661 |
A |
| 33 |
$124,900.00 |
661 |
A |
| 34 |
$124,900.00 |
661 |
A |
| 35 |
$124,900.00 |
661 |
A |
| 36 |
$124,900.00 |
661 |
A |
| 37 |
$124,900.00 |
661 |
A |
| 38 |
$124,900.00 |
661 |
A |
Prices are subject to change without prior notice.
|
