FAQ Section and Instructions
How can this resort lot be only $256 / month?
This loan is assumable, meaning, you can assume the existing loan for the resort lot which currently has a monthly payment of $256.20.
When was this lot originally purchased?
My name is Ginger Coolidge, and my husband Jeff and I originally purchased this lot in 2012. He grew up camping with the Boy Scouts at Possum Kingdom Lake so the location holds a special meaning. That said, things have changed and we no longer live in Texas. We are hoping we can re-home this lot to another Texas nature lover.
Disclosure: I still hold a Texas Real Estate Broker’s License from when we lived in Forth Worth.
Is there an HOA? What are the HOA fees? Building Requirements?
There is a POA, which stands for Property Owners Association, and specifically TheCliffsPOA.com. The maintenance dues are $500 twice a year. Recently the POA has been fully reorganized and the leadership is now better represented by other property owners. You can review the Building Requirements or review the Convenants and Restrictions there as well.
What is the current balance of the loan in case I’d like to pay it off early or buy it outright ?
The approximate balance is $24,500.
Who is UEMC?
UEMC stands for United Equitable Mortgage Corporation. This mortgage company is part of DD Resorts, the parent company that owns The Cliffs Resort – Possum Kingdom and other resort communities. They finance their own resort lot properties, which makes it convenient to change ownership. You can verify and read more on them here:
About Us – Double Diamond Resorts
How do I actually assume the loan payments and take possession of the lot ?
- Download and complete this one page document from The Cliffs Resort – Possum Kingdom: Property Owner Application
- For the Lot Number and Section at the top enter Lot 69 and Section Phase 1
- You may send it to UEMC directly by email : email@example.com or by fax: 214-706-7851. Their main phone number is 214-706-7850 should you have questions. Please do not send to me as I do not want access to your personal information.
- They also require a $300 application fee which I will pay on your behalf. This is a non-refundable fee so please be certain you do in fact wish to assume the loan, purchase the lot and can qualify.
- The transfer process takes approximately 4 to 6 weeks.
- After you complete these steps, let me know so I can remit payment for the transfer fee: Property Owner Application sent!