Quote:
Originally Posted by Challenger
If purchasers are not being informed that the total compensation for the home is in fact the purchase price plus the unpaid bond , I believe that the are in fact being misled. Im surprised that this issue has not been litigated.
To say that a $200,000 price with a $15,000 bond balance is cheaper than a price of $215,000 with no bond is intentionaly misleading, unethical and in the case of representation by real estate professionals and appraisers, probably actionable.
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Most people after spending some time looking for Real Estate here in The Villages quickly realize what a Bond means and how it is to be paid. I think few people, if anyone, are being misled. However it does not change the fact that the
initial cash outlay to buy a $200,000 house with a $15K bond is cheaper than a house costing $215K with no bond. Also when you are looking at comparable houses...the $215K house will appear more expensive because you will need more money to get in it and the $200 K house will most likely sell faster...UNLESS the $215K house seller agrees to a lower price thus negating the benefit of paying off his bond early.