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).
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100% of all new homes are sold through the captive Villages Real Estate Company, not the Multiple Listing Service. The VLS has their own policies, which obviously don't require the same level of disclosure as homes sold by licensed real estate agents through the MLS. That, along with the fact that many used homes no longer have a bond balance, are a couple of the reasons we only looked at pre-owned homes when we bought in the Villages.