[Bill14564]

Originally Posted by Chellybean

I read that a Remax company is now offer a insurance policy for 10k for the non compliance issues that will force the TV hand. Just a FYI

It isn’t easy to find a solution to the out-of-compliance home sales in The Villages that have already occurred.

The primary real estate firm is the developer-owned Properties of The Villages; it has not provided a solution, leaving homeowners with the cost of compliance.

However, here is a potential solution covering all future sales: Realty Executives and Re-Max appear to be major competitors to the Developer-owned company. he proposed solution is for Realty Executives or Re-Max to start advertising that they include a $10,000 (limit) insurance policy to pay for the cost of correcting out-of-compliance issues that were in place when the home was sold; the policy term would be ten years. These insurance policies will pressure the sales agents to look for out-of-compliance issues before they place homes on the market.

Obviously, the pressure would then be on the Developer-owned company to do the same. It might also encourage our District Government to provide a for-fee compliance inspection service.

I believe that was an idea from another poster on what another company *should* do and not what is actually being done. It would be interesting to see it tried but I'm skeptical. There would be a cost to provide that $10K policy that would have to be paid for somehow. Would Re-Max take it out of their cut or would they add it onto their fee? Would a buyer want to pay a higher fee to Re-Max for yet another extended warranty?