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Irwin Law
Irwin Law, Attorney
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Experience:  Lawyer & Real Estate Broker, 30+ years, foreclosure, land contracts, inheritance, probate.
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If I payed the total cdd on a new home in florida will that

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If I payed the total cdd on a new home in florida will that be it or would I have to pay more later.

A CDD fee is a "Community Development District" fee. Many planned communities (also known as Planned Unit Developments or PUD's) in Northeast Florida have been designated as CDD's. The CDD has the authority to issue bonds for financing infrastructure improvements such as roads, sewer, water, and community amenities such as swimming pools, clubhouses, parks, etc. Many communities that charge CDD fees (but not all) do not charge additional Home Owners Association fees (HOA) for community maintenance.

Most CDD fees can be handled like taxes by the bank that finances your home purchase and will be collected monthly and added to an escrow account to be paid at the appropriate time of the year so you don't receive an additional bill.

These fees are like taxes that may be continuing over the life of the bond. Your Realtor, Attorney, or lender will have to advise you on what continuing payments your particular CDD requires.

 

I hope that this information is helpful. If you need further information, please just send me a reply asking for clarification. After that, I hope you will enter a positive rating so that I will be credited for assisting you. Also, be sure to verify this information with a local attorney who is familiar with your local laws and procedures. Thanks again for using this service. Your business is appreciated.

Customer: replied 3 years ago.


im buying new house in pineridge ,middleburg,florida. if they had paid cdd then I would not have to pay so if I pay them upfront why would there be any other charges since they have a hoa fee. really when you buy home in florida that says no cdd fees wouldn't that be the same. I am concerned that im making a bad move buying this house and I could wind up with high mortgage.

Customer: replied 3 years ago.

im buying house in pineridge,middleburg florida ifcdd was paid why would I have other bills I also pay hoa. if you bought house in another area that don't have cdd it means builder paid for it and then there is no more fees except hoa . I am concerned this is not a good buy.

I am not able to tell you anything specific about that development. You shouldn't have to guess at whether there is CDD or not. It should be stated in the purchase agreement what the HOA includes and a title search done by your title insurance company before you close a purchase would disclose the existence of any CDD lien. If you are still unsure about it then definitely have a local attorney review any proposed purchase agreement before you sign it.

I hope that this information is helpful. If you need further information, please just send me a reply asking for clarification. After that, I hope you will enter a positive rating so that I will be credited for assisting you. Also, be sure to verify this information with a local attorney who is familiar with your local laws and procedures. Thanks again for using this service. Your business is appreciated.

 

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