Recently a special meeting was called to amend the Dataw Island Owners Association Covenants adding Section 9.04.01 - the Property Transfer Assessment -
The change called for a 1% transfer fee on properties to be paid by the Buyer. The effort to enact this new fee failed 68% - 31%. A 75% approval is required.
This is a good thing for real estate on the Island. In these tough times we shouldn't make it tough on buyers to buy or give them reasons to look elsewhere.
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