Direct: 503.422.3340,  Office: 503.288.9303, Fax: 503.265.8985

Q: If I buy a home, do I have to pay the Broker a fee?

A: No.  The Seller agrees to pay the Listing Agent (Realtor who is selling the home) a commission when the property is sold.  Buyers usually do not pay a commission to their Realtor.

A: HOA or Moorage fee.  Almost all moorages will pay for your use of water, sewer and garbage.  They will maintain the walkways, parking area, and common areas. Some moorages have on-site management. For these services they will charge you a fee, commonly known as a moorage fee.  In the RMLS, it is listed as an "HOA" cost.

These fees will differ greatly depending upon the moorage and whether you are purchasing the slip or renting the slip. Rental moorages will usually have a higher monthly fee.

Q. What kind of Inspection is needed for a floating home?

A. It is recommended, when purchasing a floating home, to inspect the below water "foundation". This is called a Flotation Inspection or Dive Survey. The cost is approximately $450 to $550.

The home above the waterline is just like a regular house on land, and it is always a good idea to have a house inspection.

I can provide you with recommendations for both dive and house inspections.

Q. What type of Insurance is needed for floating homes?  

A. There are not many insurance companies that insure floating homes.  Currently there is one main insurer.

Insurance, however, is readily available through this company.  Their rates tend to be higher than those found for land homes.

I can help provide you with contact information for your insurance needs.

Q. What type of Financing is available for floating homes?

A. There are now a number of lenders who will loan on floating homes. Their rates are usually 1 to 1 1/2 points higher than on conventional loans for land homes.  Depending upon the lender, they require a 15-20% down payment and will give 20-30 year loans.  Usually they will require a float inspection and an appraisal.

Occasionally there may be a seller who wishes to carry a contract.  Their terms are usually specific to them, but many also require a significant down payment.

I have specific names of lenders and contact information to help you through this process.

Q. What is under the floating home?

A. The flotation of a floating home may vary greatly.  The most common type of flotation in the Portland area is "log & stringers".  Large logs will have big beams (called stringers) resting on top of them.  They are pinned together.  The floor joists of the home sit on top of the stringers.  This alone will not support the weight of the house, so styrofoam "barrels" are needed for buoyancy under the logs.

Concrete foundation is also a common flotation method.

You will also find floating homes that are barges with hulls similar to boats.

When we go looking for your home, I can point out the differences and offer further information.