Become a Slip Owner
Thinking about becoming a Cypress Landing Marina Slip Holder?
Here's some Frequently Asked Questions:
Can I buy a slip?
Yes! You can purchase a slip at Cypress Landing Marina. It is not necessary to be a property owner in the Cypress Landing community.
Can I just rent a slip?
No. This is a private marina, operated by the Cypress Landing Marina Association (CLMA) for the benefit of slipholders. There are no rental slips. Sub-leases are prohibited.
So it must be very expensive to have a slip here?
No. Cypress Landing Marina is, without question, a Great Value.
So it must be very expensive to have a slip here?
No. Cypress Landing Marina is, without question, a Great Value.
How many slips are for sale?
All slips are privately held. However, at any point in time, there are usually a number of slips being offered for sale at a variety of sizes and asking prices. Marina Dock Diagram shows locations. Here's a listing of currently 'For Sale' slips.
What am I actually buying?
A slip "purchase" is actually the tranfer of a long term lease (99 years) from its current holder/lessee to the purchaser.
How much does a slip cost?
Slip leases are real property. They have market value as established between willing buyers and sellers. As with other real property, the value (price) may go up or down over time. It is influenced by supply and demand of local boat slips, economic conditions, slip location within the marina and, ultimately, by the buyers'and specific sellers' willingness to negotiate a mutually acceptable price. Listed prices are the seller's "asking" price. Feel free to negotiate!
Are there other annual expenses to consider?
In addition to the purchase price of the slip/lease, the lessee is obligated to pay an annual slip maintenance fee as set by the marina association board. This fee is a function of slip length and due January 1st of each year. Boat owners are also required to carry at least $100K property insurance and $250K personal injury liability.
What are the responsibilities of a slip holder/lessee?
The standard lease agreement defines the lessee's rights, privileges and obligations. Read it carefully!
How is a slip purchase finalized?
The purchase of a slip/lease is a legal process that usually involves an attorney (and a modest fee) to handle the escrow of funds, lease assignment, and legal recording of the transfer with Beaufort County records, NC. You will need the Assignment of Lease form, Waiver of Notice resolution. Buyers and Sellers will find the Slip Transfer Package helpful.
What role does the marina itself play in a slip sale?
There are 222 slips in Cypress Landing marina. Each slip is owned/leased by an individual. The marina receives no commission or compensation of any kind from the sale/transfer of a slip to a new owner/lessee. Information about currently "for sale" slips is provided only as a service to CLMA slipholders.
How are my interests represented?
As a new slipholder in the marina, you automatically become a member of the Cypress Landing Marina Association, a non-profit 501-C7 organization, comprised soley of marina slip holders. This non-profit corporation is governed by its by-laws which detail how officers are elected, their responsibilities and authority. Your active participation in marina issues, governance, and operations is both welcomed and encouraged. The Association holds a monthly members meeting to facilitate that interaction.
OK. What's next?
Ready for the next step? Contact the Dock Master to get other questions answered, arrange a visit and get connected with specific sellers. Dock Masters are available during business hours(9am-5pm) any day of the week at (252) 975-3955 Welcome Aboard!