Thank you all so much. Bottom line re the bond is you don't have to pay it at closing. So you factor in the cost of the home, the costs of closing, which seem reasonably nominal, and all the start up costs, utilities, etc.
In general it seems you would be better off with a new home, you get the warranties, nominal closing costs, and, well, it's new, no inherited problems. Location, however, is an issue. The new homes seem to be out in the boonies.
I'm squeamish about foreclosures, seems like battening on someone else's bad luck, but I've seen some awfully nice homes in advantageous location, i.e., nearer Sumpter Landing. Has anyone had experience buying foreclosures?
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