Quote:
Originally Posted by moosemann8
I have heard that some homes have bonds when purchasing. I am under the impression that certain areas do not have them (like the older sections) and the newer sections do have them. What exactly is a bond and how is it applied to TV properties. Thanks.
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new homes have a BOND. That is the price of the infrastructure put in place before the purchase and includes streets, rec centers, and all things that happen before undeveloped land is built on; water, electrical, underground lines etc.etc. In our prior lives the price is included in the selling price. Here the developer does it differently and issues a separate bond that can be paid off to avoid the interest or allowed to continue in case you may sell again and allow your home to have a lower looking selling price. (Many villagers move into three different homes. The cost of moving is much lower here)
In some older areas the bond has been paid off or paid down or in the historic areas northeast of 441/27 there was no bond at that time. (I think)
If you want to read dozens of threads about this issue, check this out.
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