Although it’s the most common type of land ownership, many people don’t understand what is meant by “fee simple.” There are both pros and cons to a fee simple ownership, but with condo ownership at 747 North in St. Petersburg, Florida, buyers can rest assured that their property needs — from the roof to the landscaping — will be taken care of.
In the video below, Sotheby’s Certified International Property Specialist, Kelly Lee McFrederick, sheds some light on the differences between a fee simple ownership at Skye333 and condo ownership at 747 North.
So how does condo ownership at 747 North stack up with fee simple ownership?
At 747 North, the association owns the building and the buyer(s) own the space between — essentially anything inside the walls of one’s condo. This means that if anything in or around the building — outside of one’s personal home space — needs to be repaired, 747 North takes care of it.
With fee simple ownership, the buyer is responsible for all aspects of the property; from the lot the townhouse is built on to the exterior walls and everything in between. The buyer is responsible for his/her own insurance … and let’s hope his/her neighbor is just as responsible! Things could go downhill quickly without proper insurance coverage.
The same dollars are being spent … the question is how do you want to spend them?
Reserve your space at 747 North today and feel secure knowing that your home is being taken care of. All we need for you to do is live in it.
Call Kelly Lee McFrederick at 727.410.3605.