[LeeM]

Originally Posted by eweissenbach

Most of the Villages real estate salespeople are pretty low-key, I am sure part of their training. The one problem I have had with some of them, which is likely also a by-product of their training, is their insistence that the bond is "no big deal" or "you'll hardly notice it"! The bond is an add on to the sales price, and used to pay for the community improvements and amenities. On a new or newer home it is twenty thousand dollars or more. If you pay it off, you may have difficulty recouping the outlay if and when you sell. If you don't pay it off you will pay higher interest than a typical mortgage, and it is not legitimately, tax deductible. The bond is not a bad thing necessarily, but you should understand how it works, and for a salesperson to allege it is almost not worth talking about is borderline malpractice.

I wondered about the bond. Is this paid off then in some of the older homes but not newer ones? How is the amount determined?