Quote:
Originally Posted by mrdarcy
This month I put a deposit on a parcel of land in TV. I'm hoping my house in Atlanta will sell, so I can build my house in TV (the Ivy). My contract says I need to begin building the TV house within 12 months. Does anyone know what happens to my deposit, if I cannot begin building within 12 months (i.e. can't sell my house in Atlanta)? Can the required timeframe be extended? If not, can the deposit be transferred to another parcel that comes available?
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Hi,
We were told by our TV rep that the deposit we put down on a lot in Buttonwood could be transfered to another parcel or to a new build BUT once we made the decision to make this transfer then we had to go through with the transaction immediately and we could only move the money one time. For example, once we decided to move the deposit from the lot in Buttonwood to a new CYV in Edgewater Bungalows, then we had to go through with the transaction to purchase the new home. In other words, we could not move the money say three months into the initial 12 month period and then decide on a different lot or home and have the money held for an additional 12 months. He said people were doing too much of this and TV put a stop to it.