Quote:
Originally Posted by Challenger
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
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About six years ago I was viewing a resale open house and asked the Villages agent what the remaining bond was. She said $20,000, so I replied that the REAL asking price of the home was Price + $20,000. She shot me a look (there were other potential buyers around) and said "Oh you can't count the bond in the price, it is paid with the taxes and you will hardly notice it." I replied that, "You must think I'm an idiot if you think I won't notice and extra $1,800 added to my tax bill". I thought at that moment I would never use that agent for any of my transactions. Add to that the bond is non ad-Valorem, meaning not tax deductible, and on most property they are at a higher interest than a mortgage. I am not implying they are necessarily a bad thing, but they are something that should be fully disclosed and fully understood by buyers.