The current proposed 1% Fee is a 1% “ADJUSTABLE-RATE” Fee; in other words, this is a percentage rate that the POA Board will be able to change without getting re-approval from the property owners. Beware, the POA Board is not asking you for a fixed-rate fee, but an adjustable-rate fee.

Today’s 1% (an adjustable-rate) may become 3, 4, 6, 7% or more in the future. Real estate agents will be required to disclose this future liability to every new Big Canoe homebuyer.

Will new homebuyers even want to buy into Big Canoe with this “adjustable-rate” fee liability in place? Of course, they could reduce their offer for your house further, maybe an additional 5-10% or more; that would be their best bet.