Frequently Asked Questions
How does this real estate offering differ from traditional second home ownership?
Rather than one owner purchasing whole ownership of a home, thirteen individual fractional interests are sold for each home in The Hammocks.
Do I receive a deed for my home in The Hammocks?
Yes. At closing you will receive a real estate deed for
the vested co-ownership interest in your Hammocks home,
which is recorded and guaranteed by a title insurance
policy. Your Hammocks ownership can be sold, willed,
gifted or traded.
How often can I use my home?
Each owner enjoys 7 consecutive nights of use in the Spring,
Summer, Fall and Winter seasons for a total of four
weeks a year. Each year owners’ weeks will move
forward one week, ensuring that all owners will receive
an equal opportunity to vacation at The Hammocks during
different times of the year and during various holidays.
When The Hammocks are completed, how many homes will there
be?
In all, a maximum of 23 homes will be built in The Hammocks.
Do property owners pay fees or dues?
Yes. Property Owners pay quarterly dues to The Hammocks
Association, Inc. These dues pay for all maintenance
and upkeep of your individual property, insurance,
property tax, Bald Head Island Club membership dues,
Shoals Club membership dues, operation and maintenance
of the Hammocks clubhouse, landscaping of common areas,
lease and maintenance of a golf cart, all utilities,
housekeeping services, property management and a replacement
reserve fund to cover upkeep of exteriors, interiors
and replacement of furnishings.
Who establishes The Hammocks Association fees and controls
The Hammocks Association, Inc.?
As interests in The Hammocks neighborhood are sold, control
of The Hammocks Association will be passed incrementally
from the developer to a board of directors fully elected
by property owners that will establish budgets and association
fees on an annual basis.
Will The Hammocks be rented to the public?
No. The Hammocks will be operated for the use, benefit
and enjoyment of Hammocks owners, their families and
their guests, or exchanged for use through a relationship
with Interval International. On occasion, a home may
be occupied by a guest of Bald Head Island Limited,
the developer of Bald Head Island, using an interest
still owned by the developer.
Can
Property Owners loan their Hammocks home to family
or friends?
Yes. Property Owners may loan their Hammocks home
to anyone they choose during their reserved weeks.
Can Hammocks property owners exchange their weeks with other
property owners?
Yes. For the convenience of Hammocks owners, week exchanges
with other Hammocks owners may be easily arranged through
Interval International.
Can Hammocks property owners use the Hammocks Clubhouse,
Bald Head Island Club and Shoals Club facilities if they
are not staying in their home?
Yes. Hammocks property owners may use the Hammocks Clubhouse,
Bald Head Island Club and Shoals Club facilities and common
areas even when they are not staying in their home.
Can Hammocks homeowners exchange use of their home for use
of other vacation homes?
Yes. Hammocks homeowners have the option of participating
in a Quality Vacation Exchange Network with Interval International
that allows them to trade use of their home for
use of other accommodations at over 2,000 destinations
worldwide.
Who coordinates reservations, check-in/check-out, and owner
services for The Hammocks?
A Hammocks Property Manager/Owner Services Coordinator
oversees check-in/check-out and offers a variety of on-island
services such as reserving tee times, making dinner reservations,
and arranging equipment rentals.
Who determines how The Hammocks are managed?
As interests in The Hammocks homes are sold, you will determine
how The Hammocks are managed, through your elected
Hammocks Association Board of Directors and in accordance
with governing documents.
Can accompanied and unaccompanied guests of Hammocks owners
use the Hammocks Club?
Yes. As long as they are staying in a Hammocks home, guests
of Hammocks owners have complete access to all Hammocks
Club amenities and facilities.
Can accompanied and unaccompanied guests of Hammocks owners
use the Bald Head Island Club and the Shoals Club?
Yes. Guests of Hammocks owners may request a temporary
membership in the Bald Head Island Club and/or the Shoals
Club while they are staying in a Hammocks home, allowing
complete access to the amenities and facilities of both
clubs.
Click Here to Download more information on The Hammocks
Association Fees.
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