Quote:
Originally Posted by aljetmet
After visiting TV 16 months ago our agent called to see how we are doing.
Some small talk and I asked what happens to your lot deposit if you cannot build after the year is up. Although contractually you're are out the deposit, TV will hold your money. But it is used when you close on your house. Cannot be used for another deposit on a lot. Cannot be used for 20 % deposit when you start the build. Only used as credit when closing.
Anyone experience a different scenario?
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When my agent calls, I will ask him about this. At least you don't lose the money. That's a good thing.