Purchasing a Share
If you are moving into Orange Harbor and want to own real property, you can do that one of two ways:
1. You can purchase a home that already has a share attached and therefore, is already real property or
2. You can purchase a home on a rented lot and purchase the share from the co-op that belongs to that lot. Note that only five shares are being allowed to be sold per year, so if purchasing a new share, your name will be placed on a wait list. Orange Harbor is a popular community so buyers coming in today will be placed on the list to purchase in 2018. Also, the price of the share can change without notice.
There is an advantage when purchasing a home that already has a share attached--you do not have to pay sales tax on the home. If you purchase a home without a share, you will have to pay sales tax on the home.
What about financing for my home and share?
Financing is available. Ask a member of the Orange Harbor Home Sales Team for lender names and phone numbers.
Do I own real property when I own a share?
Yes, when you own a share in Orange Harbor, you receive two types of ownership: First, you will have ownership of the lot under the home since a share is viewed the same as a deed by the state, and second, you will own ownership in the corporation that owns the entire community.
As a shareholder what additional fees do I have to pay?
Once your purchase a home and share, you will pay a monthly shareholder fee, which is $300. This monthly maintenance fee pays for trash removal, recycling, water/sewer and lawn mowing and edging. In addition, you will pay real estate taxes on your home and share. The Orange Harbor Home Sales Team can give you an average cost whether you will be a resident of the state or not. They can also explain the benefits of Florida's $50,000 Homestead Exemption on real property for residents of the state.