Quote:
Originally Posted by MSchad
I will never understand what is misleading about it. Has anyone bought a house that has a bond and not known about it until after closing?
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There have been 100's of post on TOTV over the last few years, from people who had no clue about the bond (or surely didn't understand it) and from buyers or prospective buyers, who were not informed by their Broker, there were bonds involved with most homes in The Villages.
What's misleading, is reading listings for real estate with an "asking price" that does not clearly indicate there is also a bond (or bond payment) that effectively increases the asking price, significantly.
In my opinion, it's no different than an Automobile advertisement, that doesn't mention the "Documentary Fee" or "Transportation/Shipping Fee" ... of course, the FTC prohibits automobile manufacturers and dealers from doing that.
At worst, I think advertising a property with a Bond, should at least be required to use the ubiquitous "asterisk".
& before someone says, "buyers should be smarter" ... if that was case, we wouldn't need any Consumer Protection laws.