Quote:
Originally Posted by Advogado
The real question is, "How does the Developer get by without disclosing the amount of the bond when he advertises house prices?" Isn't this deceptive advertising?
A prospective buyer, comparing advertised prices of houses in The Villages versus other retirement communities, has no way of knowing that the Developer is understating the real price of new houses by as much $33,000 (or more when you consider the interest and "administration" fee).
|
I have wondered about this since moving here in 2010. I believe that it is an intentional omission by the sales force to hide the total cost of the property. I have talked to several Villages sales people who do not even clearly understand the financial implications of the Bond for the buyers. It is in fact part of the total purchase consideration for the property. Any other explanation is clearly and provably wrong. I believe that sales people could be in jeopardy for not clearly stating this in their sale pitch and written materials