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| What is a boat slip? |
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| Boat slips come in two basic forms: a dry storage slip or a water access slip. A water access boat slip (dock) is the most desirable form, as it provides shelter and immediate access to the waterways. Dry slip storage protects your boat from the elements; however, you must make arrangements for your vessel to be launched every time you wish to use it. |
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| Is a boat slip real property? |
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| Yes. Like a home, boat slips are individual pieces of real estate that can be sold and transferred by deed to individual boat owners and investors. In some cases, access privileges to private marina common areas are included in the purchase price of the slip. A marina clubhouse or car parking are examples of such perks. In addition many boat slips come with common areas such as a marina store, fuel dock, office or retail space, restaurants, gym, pool, and more! Because boat slips act like real property, some of the available inventory will be published on your local Realtor MLS. |
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| Are there property taxes? |
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| Yes. Real Estate Taxes must be paid on the slips, just like a home or a condominium.
Please consult your local municipal tax office for further information. |
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| Can I finance the purchase of a boat slip? |
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| Yes. Conventional mortgage loans can be issued for the purchase of a boat slip, including the interest tax deductibility. For further information about boat slip financing, please contact Oleander Mortgage Company at 910-763-3040. |
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