10812 Grande Boulevard, West Palm Beach, FL 33412 (MLS# R9998807)

Supplements: SELLER AGREES TO PAY $20,000 TOWARDS BUYER'S CHOICE OF MEMBERSHIP!!!!A lot of people are scared off of these types of communities due to the membership requirement so for those of you who are not familiar, let me try to simplify what it entails and the many benefits derived. Ibis requires club membership and the least expen ... (Read more) SELLER AGREES TO PAY $20,000 TOWARDS BUYER'S CHOICE OF MEMBERSHIP!!!!A lot of people are scared off of these types of communities due to the membership requirement so for those of you who are not familiar, let me try to simplify what it entails and the many benefits derived. Ibis requires club membership and the least expensive ones are either the social or tennis memberships, both starting at $40,000 for the initial payment and is required to be paid up front and not financed. All memberships require annual dues; annual dues for social membership are $6,230 and annual dues for tennis membership are $6,834. Golf membership is more (schedule of all fees attached to listing). Upon sale, the seller gets back 50% of the initial investment of whichever type of membership they purchase - in the case of social or tennis, that would be a refund of $20,000. The most basic/least inclusive membership (social) allows use of the 50,000 square foot clubhouse which is spectacular and includes such amenities as 250 seat dining room, ball room, card room, library, gift shop, 8,000 square foot fitness center with classes in aerobics, pilates, and yoga. Next to the present club house is new construction of a four-building recreational complex available to all members that will include a 2-story fitness center, pool side bistro, changing room and spa with nail salon, massage therapy, etc. As a resident of Ibis you also have access to three lovely parks - Ibis’ 3-acre people-park, the dog park and the butterfly park. Details of the parks and the amenities are attachments to the listing. Other required fees include the HOA fee of $772 per quarter and the POA fee of $782 per quarter. Expressed as a monthly amount, both fees together add up to $518 per month - which is not bad for an HOA/POA fee. However, the annual club membership fee of $6,230 (for the social) in effect adds $519 to the monthly cash outlay but if paid in installments, must be paid as half in November and the remainder in 3 separate equal payments one each in Jan, Feb and Mar. So if all payments were made monthly, the total monthly fees would be: $1,037 per month. There is also a required dining expenditure of $1,200 per year in the elegant clubhouse dining room ($100 per month-I spend that in one weekend) - you will be glad to go to eat in this lovely dining room with first class cuisine while you can visit with your neighbors. There is another temporary fee of $159 per month for capital improvements. So with every dollar you will need to pay included, you will pay $1,236 per month to live in Ibis but $159 of that is temporary. That monthly amount of $1,236 includes all memberships, HOA, POA and required spending in dining room. Some condos charge that much in monthly maintenance and you get far less. If you have a customer who wants to be surrounded by elegance for really not all that high of a price, this is the place to go.