Millstone Condominiums are fully built out and owner managed. Resell condos units are available from time to time. Please consult your real estate professional for a listing of available units. The condo complex also has garages, slips and PWC ports that are sold with the unit if they have them. Owners will sell garages, slips and PWC ports but these are only available for existing owners to purchase.
Here are some things to know when considering buying or selling at Millstone.
A Condo Transfer Fee is charged and payable to the Millstone Condo Association at the time of closing.
Assessments are billed quarterly based upon the square footage of the condo. Assessments are broken into 3 components. The first being sewer assessments (set annually based upon the sewer rates charged to us by the sewer district), the second operating expenses (set annually by the budget) and thirdly the reserve fund (future maintenance) items. Assessments cover trash services, basis cable and internet, water, building insurance and all operating expenses for the association. The owner is only responsible for insuring studs in and paying for electricity. Additional quarterly assessments are also made for: PWC ports, Slips, Garages and Condos (based upon on square foot).
Condos are all electric for HVAC, natural gas is not available.
Millstone has never done a special assessment and we do not plan to do one as we are planning for future expenses and collection quarterly for the reserve fund. Currently we have a healthy reserve fund to ensure expensive maintenance items can be covered in the future.
Millstone Condos are located in Morgan County with a Gravois Mills mailing address.
A resell certificate will need to be provided to close on the unit.
Any outstanding balances that may exist for that unit are payable at closing.
Condo units deeded and recorded with the Morgan recorder of deeds. Garages, Slips and PWC ports are leased from the Association. Lease transfer agreements will be sent as part of closing. Garages, Slips and PWC ports have real value and can be sold to other owners within Millstone.
Millstone Condo Association also requires a minimum of one million dollars in liability for the condo and any watercraft stored on site. Most owners use an umbrella policy for this level of liability. Your insurance agent can help you if you don't have an existing one.
Financial and other documents will be furnished upon request.
All owners are members of the Millstone Condo Association and bound by those by-laws.
Any questions can be directed to [email protected], our Property Manager or the Executive Board.