Does Port St Lucie have CDD's

[pslhomie]

Since we were not the original owners we were not provided the documentation. Not sure if they should have but there was nothing to read. Yes the clubhouse was offered to the HOA for 8 million dollars. Because the HOA was brand new (just turned over to the home owners by the developer) there was a great deal of concern about how to raise the funds before the deadline for sale by the developer. Since the developer could name their own price they came up with that figure. In stepped the CDD because they had better (government funding) and were able to purchase it taking the risk away from the HOA which was really the best of a bad situation. I doubt people would have bought houses here if they were armed with these facts in the beginning.


The example they gave when selling was a development in Doral where the residents refused to purchase the clubhouse and didn't let the CDD buy it so the developer sold it to a private citizen who then used it as a money maker. He had the power to raise the dues to anything he wanted because membership under the agreement was mandatory for residents for 30 years. Further if there were improvements that needed to be made he could pass the costs along to residents. I believe the case went to court and the residents lost.


Its a horror show that should not be tolerated. We went to a brand new development and were going to buy a house that was still under construction. We negotiated a fair price and were about to sign when the developer hit us with the 10k construction fee and a 5k "Premium lot" fee. to be paid in addition to the price we negotiated. That was a deal breaker. We found our house in a development by the same developer that a couple had been living in for 2 years. We actually got more house for less money. The couple ended up losing money in the deal. The clubhouse was not even under construction yet so we had no idea what it was going to be other than the model of the neighborhood. It turned out not to be what was offered by the developer. Big lesson. Oh well we are not happy and are going to sell in the near future. We would like to move back to PSL. Selling our house there was a big mistake. I guess I make a lot of mistakes LOL.

[FlaLadyB]

WOW...is all I can say. In all my years in real estate I have never heard of that before. Personally, I think the Sellers, KNOWING THIS, should have been in the DISCLOSURE to you. Did you even get a HOA Disclosure (which you are supposed to get) that lists what the dues etc are and if there are any pending assessments? AND if there are documents they ARE supposed to be turned over to you.

But of course, if they had told you up front I'm sure you would not have purchased their home either. Hate to ask who the developer was/is ... and really not allowed to dis them on here. How about a pm. I DO want to know

[pslhomie]

Not going to say but it has two n's and ends in an r.

[Lorac0561]

Yes they do. I was going to have a home built in Verano By Kolter builders. There was a $17000 CDD fee along with the build. It didnt include the 475 a month HOA. Some residents pay it off if they can afford to at closing. If not you are billed for it.

[FlaLadyB]

Again, I just called to get the facts on Veranos CDD. First of all, Verano is not part of Tradition, it's part of PGA.

The CDD in Verano is a 30 year bond. It is already 11 years through that 30 years. The amount of the CDD varies per house size and can be anywhere from $12,000 to $17,000. If you choose to pay it off early, as in up front, you get a discounted amount.

[VERANO22]

Why would you choose to pay it off early?
Should an owner sell their home is the
Owner required to pay his off 1st or can
the new buyer assume the unpaid
balance?

[Carlton Harris]

Since I moved here 10 years ago I'v found that EVERYTHING in Florida is a scam. From house buying to home insurance (state takes 10% of your premium) to auto insurance, $225 new license plate fee, property taxes equivalent to up north, town permit scams (first inspection always fails $$), kangaroo court for code violations so the town can steal your property (PSL), you name it Florida is a rip-off. A rip-off unless you can be a free renter so you can use your free cash to buy dirt bikes and 4-wheelers to cruise the neighborhood.