Terms

Definition

Affiliated Agent

An agent who has established their expertize in golf  in their

area.  One who is dedicated to providing quality service,

knows and understands golf and all costs associated with

 the golf course and the community

Annual Dues

This is the fee paid to a golf course for the privilege of

playing without being charged green fees.  It can be

collected monthly or yearly.  It is not a set

Assessments

Charges passed on to members to pay for specific items

that need to be replaced or repaired. Included in

annual dues.

Associate Members

People allowed to join a club when memberships are down,

their memberships will be pull on  last in first out bases as the club builds its equity members.

Bundled Community

See Property Equity

Capital Contribution

Charged passed tomembers to cover potential

repair and replacement.  Charges with Annual Dues.

Cart Fees

The charge for using the club golf cart to play a round of

golf.  It is charged per person.

CDD

Community District Development Bond.  A bond floated

to pay for the infura structure in a large community.  The

bond will be paid by owners over a 30 year period and

collected with property taxes.  Requires state approval.

Is a fixed amount and generally  will not change.

CDD Other

Some communities refer to the CDD as the collection of

costs related tomaintaining the common areas.  Used with

extremely large developments with multiple sub division

Club Homes

Multiple units attached, single storey homes.  Usually part

of a condo association.

Coach Homes

One or two story multiple units attached.  Can be townhomes or first and second level homes

Community Pool

A pool maintained by the community for the benefit of

the residents within the community.

Community Private Road

Roads within a gated community where the home owners

are responsible for the maintenance of the roads

Community Public Road

A community with public roads can not erect a permanent

gate but may station a guard at the entrance for security.

Condo

A multi story building from 2 to 14 or more stories

Condo Association

An association that is formed when there is common owner

ship of the land.  Generally they come with full lawn and

building maintenance. Land is commonly owned.

Condo Docs

Rules by which the condo association was established

and will govern use of land and buildings.

Corporate Owned No Equity

Courses owned by an individual or corporation and the

members of the club have no say in how it is run.  They

also have NO vested interest in the club.

Corporate Equity

Clubs owned by corporations that state a % of fees will

be returned to member when the membership is released.

Members have no say in setting of annual fess or in the

maner in which the club is managed.

Country Club

A club where there may be many different kinds of

memberships.  Tennis, golf, swimming, croquet, social,

dining.  A club where there are multiple activities for the

residents that do no play golf.

Deed Restricted

Refers to rules that govern the community.  They are set

by the home owners to protect the investment and are for

the betterment of the community.

Equity

Refers to the amount of money that an individual has

invested in a golf community. And will be returned to

him when he gives up his membership.

Food and Beverage Minimum

Monies designated to be spent in the club restraurant.

If the member does not use his minimum he will be charged

at the end of a term (month or year) for the difference.

Garden Up or Down Condo

A two story building no elevators

Golf Club

A club where golf is the main focus.  Designed after clubs

of old that had a golf course, restraurant and pool.  some may even have tennis courts.  However the club activities revolve around golf.

Home Owners Association

An association formed to establish rules for home owners

designed to increse the value of the property

within the community.  Out buildings, fencing, vehical type

allowed in drive ways.  Benefits home owners as they own

the land and have a vested interest in maintaining its value.

Lease Term

Refers to the length of time that a unit may be rented out.

It may also restrict the number of times per year the unit

may be rented.

Low Rise

Generally 3 stories some with elevators

Master Association

Established to maintain the common areas within a 

community.  May include landscaping, road, street

lighting and more.  It is not a fixed fee  and may be raised

yearly.

Master Planned Community

A large undertaking where there will be parks, shopping

centers, fishing lakes, sports complex available to all

residents.  There my still be clubhouses for individual

communities within the master planned community.

and office parks and commercial centers.  

Member Owned Club

The members of the golf course own the course and  are

responsible for managing  and meeting the obligations

of the club.  Meetings are held on an annual basis and is

run by a board of directors elected by the club members.

Voting members must hold equity memberships.

Patio Homes Free Standing

Can be free standing or multiple units.  In free standing

when you enter the house through the main entrance you

enter into the pool or patio area. 

Patio Homes in Multiple Units

Refers to home that have pools and zero lot lines. 

Generally in a condo association but not always.

Pets

Allowed or not, and may also set size or weight restrictions

Property Equity

When an individual purchases his home he has also purchased equity into the community which can include golf.  A smaller annual fee is paid as all residences of the community are required to pay the same fee.  The disadvantage is during busy times rounds may exceed 4 to 5 hours. 

Real Estate Agent

Can be Buyers Agent, Single Agent or Transaction Agent.

Buyers Agent

Buyers Agent works only for the buyer and is paid by the

sellers agent unless other arrangements are made.

Single Agent

Can represent either the buyer or the seller but not both.

Transaction Agent

A Transaction Agent, is representing both the buyer and

the seller.  It may or may not be a home listed by the agen

but merely a home listed by his company.

Sales Agent/On Site Agent

Refers to the individual real estate agent who is paid by the

developer and is required to work on site 8 hours a day.

They are paid by the developer and represents him in

all contractual matters.

Seasonal Membership

Refers to a specific period of time, for non-permanent

residence.  Season will vary from one area to another.

Single Family  Home

A free standing home on land that is deeded to the owner

Trail Fees

A single fee charges annually for the privilige of using

a personal golf cart when playing golf.

Trail Fees (leases)

Some courses provide golf carts to members under a lease

set up.  Each lease fee is designed to cover a specific

number of rounds.  When that maximum is reached

you will be charged per round per person.

Transferrable Membership

Allows investors to purchase a membership in a club and

pass the membership privileges on to a tenant.

The owner of the membership is held responsible for all fees.

Villa

Can be free standing or multiple units attached.  Can be

in a home owner association or a condo association.

where the land is deeded to the owner.  Comes with  a

minimum of lawn care.   If in multiple units general comes

with maintenance on the building but may not include

all repairs.