slip purchase help

[team heat]

I recently saw a private 26 foot slip for sale at a private marina on shark river.It has electric water and floating dock for 8500.00 dollars.My question is is there any hidden costs i should check into before i sign like maintence cost dock replacement etc etc.If anyone has any expierence buying a slip any info would help alot.Thanks

[Capt. Debbie]

There's a bunch of legalities in what you get exactly. Riparian Rights on what you are getting. The State had regs on maintaining them too.

PM me if you'd like to get into the details- mostly legal stuff on when they can pull it back.

The slip is the slip ALONE. Fees for parking lot, security, storm repairs, easements and other misc. may or may not be included. The present owner should have a contract.

Additionally the slip may be only his while he owns a nearby condo too. If her sells condo or moves out- he can no longer assign it.

You MUST see the terms. You have to see what he has to sell and you're getting.

[team heat]

Thank you for the reply.It seems like i could be in for alot of hassles down the road.Think i might pass on this one.

[knicknacjim]

pm sent

[Capt. Debbie]

Not necessarily. If you do math on payback period =, it could make sense for you.

How much are you paying in-season vs. total cost for this plus yearly aceesments. Then see when you break even.

As a rule when I was Project Engineer at PSE&G our guide line was no more than 5 years because iffy stuffy will always extend it.

PM if interested? I do legal stuff too- see DudisLaw.com

Originally Posted by team heat

Thank you for the reply.It seems like i could be in for alot of hassles down the road.Think i might pass on this one.