Water is a precious resource on the Monterey Peninsula. Water credits are assigned to each property by counting fixtures and appliance efficiency. Water credit purchase is available is some locations but not others. The Pebble Beach Company has water reclamation on their golf courses, so they are able to offer water purchase to their residents within the gates of Pebble Beach.
Here's a quick overview of how it works:
There is no minimum purchase requirement, incremental purchases are allowed.
Current purchase price is $325,000 per acre foot. Incremental purchases are $3,250 per one-tenth of an acre foot. Price is subject to change.
The process includes completion of a subscription agreement in duplicate, approval by Pebble Beach Company, proof of ownership, and legal description of property.
After approval, the process to close escrow takes approximately 2-3 weeks.
Water credits are not transferrable to other properties.
Purchasers are provided with escrow and wiring instructions. Funds are due 7-10 days prior to closing.
Source: Pebble Beach Company Water Sale Summary dates September 3, 2024
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