Gordon's beach shack info

[23Hourston]

I see a few place for sale on Gordon's beach. Way over priced if ya ask me
But what isn't
Anyway after researching it awhile I found its one of those shares in a co -operative deals.
Unfortunately I haven't been able to find any info to what this means.
Can anyone in lighten me

 

[profisher]

I know about it personally as we have a cabin there and have since 1958. You can't get financing from a bank as you don't own the land,,,you own a share. You are buying the building and the share in the company which is Orvious Bay Estates. Obviously that has value as you can resell and prices for any waterfront never go down. That beach is a popular spot, they don't come up for sale very often but when they do they sell fairly quickly. I'm amazed myself what they sell for as they are all on non-conforming lots which prevents getting it zoned as as strata. All the cabins share a common well which has worked fine since it was dug many years ago. Most of the cabins are on septic but there may now be a requirement for a proper sewer treatment system now if you do any reno's. Basically you need to find your own financing or have deep pockets to buy there now.

 

[23Hourston]

Pm sent. I think