How do I secure a Unit?
a) Select the unit you would like to purchase.
b) Complete a purchase agreement and read all condominium documents.
c) When the purchase contract is accepted, 1% earnest money is required.
d) You will have two weeks to make your selections and then an additional two weeks to finalize your numbers.
e) 30 days after signing the purchase contract, a 10% non-refundable builder's deposit is required.
Are there any buyer incentives?
Yes, an upgraded appliance package will be available for those that purchase early.
What will the HOA fees be?
HOA fee will be determined by the square footage of your unit. Initially, monthly fees will be between $0.21 and $0.22 a square foot. This will be approximately $277 - $370 a month. See Condo Declaration for individual unit fees. A budget will be provided to all owners. The dues can change annually at the discretion of the board. There is a $200 startup fee.
What does the HOA cover?
The Douglas on First monthly HOA currently includes maintenance of the common spaces, maintenance of the building exterior, trash services, building insurance, upkeep of all fire and safety alarms, elevator maintenance, landscaping, parking garages, exterior window washing, and building reserves.
What does the $200 startup fee cover?
Moving can take a toll on walls and property. We want the owners at Douglas on First to have a smooth transition when moving into the building. The startup fee will cover protecting the elevator and having a property manager coordinate with movers to make sure the building is not damaged during move-in.
What about property taxes?
Property taxes will be determined by the city of Cedar Rapids based on assessed value. New construction property tax benefits will also apply.
Are pets allowed?
Yes, we are a pet friendly complex and will even have a dog park on-site. See by-laws for additional information on this.