Re: Purchase of a new home
Similar situation here was down on a visit to see some family and friends outside TV but stayed on the lifestyles preview pkg for a few days. As we had been to TV before we had an idea what we were looking for. Went out with a villages rep who we were dealing with looked at resales and new. Found a great designer with a reduced price. $2500. down on CC ( We both said we would not bring our check book-HA,HA) they take credit cards for Ernest monies. You then have between 5-7 days to come up with the balance of the 20% deposit. If you change your mind in that 7 day window they keep the $2500. But if you change your mind and come back later with a deal on another house you may be able to use that $2500 (prior) deposit on that home, depending on how long it was since your $2500 was put down.
You can get pre-approval from TV citizens wholesale mortgage company pretty easily.
One imagens that if you have put in the 20% you are committed to go with it. Oh and one more thing with some of these deals you need to sign as part of your contact that you cannot sell the home in less that 1yr or any profit would go back to the developer. This would include any discount on home purchased.
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