Talk of The Villages Florida - View Single Post - "No Bond" is promoted in home sales. But what's the real savings?
View Single Post
 
Old 11-27-2023, 08:41 AM
Sandy and Ed Sandy and Ed is offline
Veteran member
Join Date: Oct 2013
Location: Pennecamp
Posts: 879
Thanks: 399
Thanked 751 Times in 373 Posts
Default Simple answer

Bond is attached to property. You, or subsequent owners, pay the bond off monthly IN ADDITION to whatever mortgage you may have along with other monthly costs. BOND FREE or BOND PAID means you don’t pay that.

If you are buying a property of course look for those that have the bond already paid ( or prepaid by previous owner).

Do sellers of properties where they prepaid the bond ask for more? Probably. But when the property is listed it is shown along side those listed for less that do not have bonds paid.

As a buyer which one would catch your attention? As a realtor agent what part of the REAL cost would you downplay?

Obvious for me. Buy BOND PAID for lowest asking price in newer areas for the model you want. I would look for turnkey with zero carpeting and a fresh coat of paint as well.