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Bridgeland Introduces Transfer Fee


CyKat

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Although they are quite controversial they make the .05% transfer fee on resale homes sound reasonable. Another money grab?

http://www.houstoneflyer.com/Archives2/5725-GGP/index.html

I dont know how long the link will be available.

CyKat

Some condominiums charge the buyer a one time fixed amount when they purchase a resale. I have heard of one high rise that has a $2,500 fee.

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Given that new home construction depresses resale prices, in that potential buyers can buy new for the same price as buying a resale, and given that new construction will be occurring in this neighborhood for the next 20 years, adding an extra .5% to the cost of selling a home here sounds like a DISincentive for buying in the Bridgelands in the first place. Granted, many home buyers may not figure this out until they have already purchased there, but I would be none to pleased at having to pay extra to unload my house. No amount of "excitement" professed by the developer would make me think this is a good deal. It is merely an exit tax, one that the resident never gets the benefit of, since it is only assessed as you leave the neighborhood.

How many ways can one spell RIP OFF.

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It is merely an exit tax, one that the resident never gets the benefit of, since it is only assessed as you leave the neighborhood.

Being Bridgeland they should just call it a one-way toll.

I think they're taking this bridge theme too far.

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I just emailed the link to Nancy Sarnoff at the Chron. to see if she wanted to do a story on it since the developers think it's such a benefit.

Do you think she'll run with it, or maybe she'll think it's no a big deal and ignore it, or do you think she will ignore it because she doesn't want to upset the developer?

CyKat

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That's what they're banking on.

If a homebuyer is dumb enough to sign a piece of paper work with out knowng the full intent of what they are signing or what it says, then it is thir own fault, nobody elses.

In addition, this fee is present in many other developments around Houston (Summerwood, Telfair) and thhe country.

Edited by h2obuff
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If a homebuyer iis dumb enough to sign a piece of paper work with out knowng the full intent of what they are signing or what it says, then it is thir own fault, nobody elses.

In addition, this fee is present in many othher developments around Houston (Summerwood, Telfair) and thhe country.

So, the homeowner can simply opt-out --- or Bridgeland loses a buyer?

Edited by mrfootball
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  • The title was changed to Bridgeland Introduces Transfer Fee

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