Frequently Asked Questions
How do I reserve a unit? And how do I reserve a boat slip?
Submit a reservation agreement and put down a refundable deposit.
Reminder: You are eligible to purchase a boat slip ONLY if you are purchasing a townhome, as well. People who do not own a townhome at Inlet Cove are not eligible to purchase a boat slip at this time.
What's an estimate of monthly dues?
Townhome dues per month estimate: $325 per townhome
Includes: Lawn maintenance for common areas, administrative/legal fees, management fees, property/liability insurance, wind and hail insurance, utilities for common areas (electricity, trash), repairs/maintenance for common areas (extermination, retention pond, townhome landscaping), reserve.
Marina dues per month estimate: $129 per slip
Includes: general maintenance, administrative fees, management fees, property/liability insurance, water and sewer, electricity, trash, reserve.
Master dues per month estimate: $176
For common areas, dues include: lawn/general maintenance, cleaning, plumbing, administrative fees, management fees, property/liability insurance, wind and hail insurance, flood insurance, utilities (water/sewer, electricity, trash collection, telephone), repairs and maintenance (extermination, retention pond, pool maintenance), reserve.
Can I purchase a boat slip without purchasing a towhome?
No, you must purchase a townhome in order to purchase a boat slip.
Will the boat slips be deeded?
Yes. The boat slips will not be tied to the townhomes.
Does a boat slip come with the purchase of a townhome?
No. When you buy an Inlet Cove townhome, you must purchase the boat slip separately.
If I don't choose the elevator upgrade, will I be able to install one at a later time if needed?
Absolutely. Every townhome will be built with an elevator shaft and whether or not you choose to use it is up to you. Down the road, this will make it easier to install an elevator if you decide you would like one.
I have a ton of fishing rods and tackle, along with towels and linens. Will there be ample storage?
In addition to private dock boxes, you will have an enclosed single-car garage, heated ground floor space and additional attic space to be utilized for storage. On the interior, there are ample closets and storage space for linens, coats and other items.
Who is involved with the development of Inlet Cove?
Engineer: The Cullipher Group, P.A.
Builder: Milco Contractingg
Listing Team: Mary Cheatham King Real Estate
Preferred Closing Attorney: John Harris (All deposits will be held in the White and Allen Trust Account with John Harris)
Management Company: Real Estate Plus
At the time of the Reservation Agreement, the buyer will:
Put down $20,000, which will be refundable until the time of contract
At contract, additional funds will be due to create a total deposit of 5% of base purchase price (townhouse only) as well as ½ total cost of the elevator or 4th bedroom upgrade, if either or both are selected by purchaser. All deposits become nonrefundable when Reservation Agreement is converted to a contract.
4 months following the contract date, an additional 5% of base price nonrefundable deposit is due.
From the time of groundbreaking, how long will construction take?
From ground breaking, units will take 9 to 10 months to build (as always, this estimation is dependent on construction supplies and materials).
Can I lease my slip once I buy it?
Owners may offer their slips for lease to third parties after all townhome units are complete.
Note: Developer may lease slips during construction.
When I reserve my boat slip, how much am I required to put down?
$10,000 refundable deposit is due with reservation agreement for a boat slip. At the time of contract, the $10,000 deposit becomes non-refundable; no additional deposit required at this time.
What else should I know about purchasing a boat slip along with my townhome at Inlet Cove?
Marina dues will begin at the time of purchase.
Slip pricing is not inclusive of lift or additional piling installation, including electric.
Slip reservations and contracts cannot be conveyed to third parties prior to closing (same with townhomes).
Upon resale, slips are subject to a developer right of first refusal.
Current pricing for a 13,000-lb. lift is $13,000, subject to change. Other sizes priced upon request.
All lifts and improvements to slips will be performed by developer and components determined by developer. At the present, the supplier is Tide Tamer.
Lifts must be paid in full prior to installation.
IMPORTANT (see Boat Slips page for more information):
Slips 33, 34, 35, 36, 37, 38, 39 are only available to those who reserve townhomes 1-7
Slips 41, 42, 43, 44, 45, 46, 47 are only available to those who reserve townhomes 8-14
Slips 61, 62, 63, 64, 65, 66, 68, 69, 71 are only available to those who reserve townhomes 15-23
Slips 85, 83, 81, 80, 79, 77, 76, 75, 74 are only available to those who reserve townhomes 33-41
Are any townhomes in a flood zone?
Units 37-53 will require flood insurance if they are financed. It is estimated that the premium per unit to be approximately $1,500 annually for full limits.
How many townhomes and boat slips will there be upon completion of the development?
There will be 61 townhomes and 122 boat slips constructed total. Note that there are currently 14 slips that are not offered for purchase (1-11 and 88-90).
I want to purchase more than one boat slip as a townhome owner. Am I allowed to do so?
Not at this time. Limit one boat slip per townhome owner.
I want to install a fence. Can I do that?
A privacy fence will be allowed 4 ft high maximum. Material to be determined. Must be on lot line.
Can I rent out my townhome?
Yes, however, there is a 7-day rental minimum.
How deep is the marina?
Average 5-6 feet in depth. Shallower adjacent to seawall.
Will there be parking/storage for boat trailers?
No. Storage of boat trailers is not permitted on site.
When is the pool/clubhouse anticipated to be completed?
This area is predicted to be completed before the first townhome.
Are golf carts going to be permitted?
What are the ceiling heights of each floor?
Garage level: 8'
Second floor: 9’
Third floor: 9'
Fourth floor: 8'
Will the project be gated?
What will be included in the appliance package?
Refrigerator, electric range with built-in microwave, dishwasher, disposal.
Will there be a capital reserve due at closing?
Yes, a $2,000 capital reserve contribution is required at closing. A $2,000 capital contribution will be collected at closing to build up the association’s reserves.
What is so special about the HVAC system that will be included in each townhome?
Mitsubishi HVAC System – the comfort system designed for Inlet Cove – utilizes both ducted and non-ducted equipment that is tied to one condenser.
There will be one outdoor unit and four indoor head units; one on each floor. Each head unit will have its own controls and will be Wi-Fi enabled/accessible from a smartphone app.
On average, Mitsubishi is 30-60% more efficient and have a life span of around 20 years (with proper maintenance). The efficiency ratings of Mitsubishi equipment starts at 18 SEER and go as high as 44.1 SEER.
These systems are truly variable and inverter driven.
For the end user, this means lower utility bills and more comfortable living spaces.