Quote:
Originally Posted by rp001
Every real estate contract I've ever seen actually discloses type of financing required. If you look closely, somewhere in it you should see the word "conventional" and that eliminates both fha and va...I've purchased 11 homes in Fl in my life...Never bought from the villages though, I purchased mine through mls..
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Custom and inventory homes (new homes, spec homes) have contracts that do not have a contingency for financing, therefore they don't mention financing. On inventory / new homes the contract doesn't spell out what % you have to put down by what date, there is a spot for it but it's blank to be filled out by the agent at the time of contract negotiation, however TV really doesn't allow negotiation so in my case we found out it was $2.5K (spelled out in contract) when you sign and then another $50K (not spelled out)within 7 days (non-refundable) we found this out even though we got copies of the contract 4 months before coming to actual buy and in-spite of asking questions about deposits and FHA financing and receiving responses in writing via email.