Buying a Discounted new house in TV

[Modigliani]

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.

[billethkid]

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.

Are you saying if you knew what you know now you would not have signed?
Or do you have buyers remorse and now understand what it takes or not to get out of a home buyers contract?

For me for example, when it comes to real estate....and because there are no two states laws alike....I use an attorney and always ask the magic question....is there any reason I SHOULD NOT sign these papers?

[dadspet]

you clearly need to understand what you are getting into when you indicate you want to buy a village house. Once you say yes to a house the process goes from laid back to high gear and you will be committed to everything you sign. I'm saying this only so you don't under estimate what will happen once you say yes to a house and once you sign what the villages position will be. We bought 2 houses and didn't have any issues but were surprised by how fast the villages wanted papers signed, down payments and how little flexibility there was in closing (which was quick when we bought). We regret nothing and love it here.

[RickeyD]

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.

We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.

Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.


Sounds as if your REA did not give full disclosure, or you were asleep at the contract signing.

[graciegirl]

I would think that most of us would know by now that signing a real estate contract is a binding agreement.

[NotGolfer]

When we were VERY young and in the process of looking for our 1st house to buy, we had an agent who (in looking back now) seemed bent on us signing a contract. I remember the house...I didn't really like it and didn't understand (quite) what "making an offer" meant. I think the guy used some words that were blurred in content. Anyway, I did have to presence of mind to ask questions AND was told that the contract would be binding. WHEW!!! So glad I asked those questions as in the end, we didn't work with that agent again and our first house was just what we needed and were looking for.

When we purchased here everything was explained pretty clearly but we still asked questions too. The process went quickly (which we appreciated) and smoothly as well. We've never regretted anything in the 6 years since.

[gap2415]

All the more reason for full disclosure not a rush job

[looneycat]

Sounds as if your REA did not give full disclosure, or you were asleep at the contract signing.

an REA is a salesperson...if you count on them and not a lawyer the fault, unfortunately, is yours...:sad:

[howardandsheila]

can you be a little more specific as to the issue you ran into. Not asking for any privacy info, just an idea of what was not as apparent as you would have liked.

[cmj1210]

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.

If you are from certain states (we are from NY) there is a right of recision. The first home we went into contract on we had 7 days to rescind and decided this was not the house for us. Your real estate agent should know which states have this clause.

[Rango]

Compos Mentis

[howardandsheila]

Compos Mentis

of sound mind???

[Modigliani]

I would have put off signing until the house I now own in TV had been sold.

[Modigliani]

We are Snowbirds from Canada so our rescinding periods would not apply in the US.

[Modigliani]

Let's just say we were mis-informed, mis-led or whatever you want to call it which amounts to not divulging critical information to us. Part of the problem being we wanted to sell the house we now own in TV before purchasing a new house in TV.

[manaboutown]

In other words you wanted a contingency clause in your contract to purchase and there was none?

[gomoho]

If your home in The Villages is priced right it should sell quickly. If the same sales person is handling both side of the transaction perhaps he could get an extended closing date on the new home.

[capecoralbill]

The NYS right of recission only applies to NEW homes, not resales....I think.

[RickeyD]

If your home in The Villages is priced right it should sell quickly. If the same sales person is handling both side of the transaction perhaps he could get an extended closing date on the new home.


You can get an extension for a price.

[howardandsheila]

In other words you wanted a contingency clause in your contract to purchase and there was none?

We just moved into our second home in The Villages. Bought this one before our other was listed. I was not comfortable, but our house did sell quickly

I have learned that a polite real estate agent will smile if you ask about a contingency clause tied to you first house selling.:icon_wink: A rude one breaks out in a belly laugh.:a040: Mine was polite.

Good luck resolving your problem. Once it's behind you, all will be good.

[rdhdleo]

So sorry to hear of the situation you are in. I do hope all works out for the best!

[JerryP]

You can get an extension for a price.

Yes, after you sign you have 30 days to close, you can extend this by paying $40 a day. Although the 5% incentive was very attractive we elected to wait and sell ours before buying. Feb incentive is now 4%.

[Barefoot]

I would have put off signing until the house I now own in TV had been sold.

Did you ask your Agent if you could make the purchase of your new home conditional on the sale of your existing home?
It's not normally permitted, but TV does seem to have a high inventory of new homes right now.

Anyway, take heart, this is the best time of the year to sell.
If your house is priced properly and shows well, it should be snapped up!
Best of Luck to you.

[bagboy]

Are you saying that you were "tricked" into buying a new house? I have read and reread all posts here and I am having a difficult time understanding the situation. Why didn't you sell, or at least get your current home In Contract with a buyer before you even looked at another home? And as you stated, Why didn't you hire an attorney to review your purchase agreement? That is a must anywhere, not just in The Villages.
You seem to be playing the woe is me card claiming to be a victim of the evil developer. Yes, the developer and agents are interested in selling homes. That's what they do. But I don't believe for a second that they have to resort to underhanded tactics to do so. We are all responsible for our investments and purchases. And if we do something we regret, buy something we shouldn't have, or act irrationally (which we have all done a time or two), suck it up, find a solution and take responsibility for yourself.

[CFrance]

Compos Mentis

of sound mind???
caveat emptor

[kstew43]

i feel for you.....I know how hard it can be with two mortgages.

We also did a similar thing, the salesman assured us our home would sell extremely quickly and not to worry.......Well it didn't....

We regret listening to the salesperson, but we should of known better.....

they are only out for the money and can care less about you once the deal is done....

Advise.....not good....but what we had to do after a few months on the market is to lower the price so we would loose money with the sale, but with it on the market for 8 months, we were loosing more money paying two mortgages....

Best of luck....

[graciegirl]

We waited until we were HOMELESS. But thank heavens we were taught to save our money and to proceed cautiously and not blame other people for our decisions.

Fiscally conservative Gracie.

[Challenger]

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.

Once again there are insinuations that the developer or their agents have acted unethically. The agent is not responsible for verbally reading the entire contract to buyers. There is no "fine print" it is all there. If you are not experienced in buying real estate-Read.
I never knew until beginning to follow TOTV that so many 55+ people were so naive. The OPs advice to read a contract is good. the inuendo is not good

[Polar Bear]

A bit off topic, but it was touched upon...

Has anybody used a "bridge loan" to facilitate a buy-home-first-then-sell-existing-home-after? No guarantees of course how quickly your home will sell, but the bridge loan is supposed to help you temporarily own two homes while you wait for your home to sell. It would surely be nice to leisurely shop for a house, act quickly when you find the right one, then sell your existing home even if it took a little while. It would certainly beat having to buy quickly after selling, or renting for a while or any similar scenario.

[Barefoot]

Advise.....not good....but what we had to do after a few months on the market is to lower the price so we would loose money with the sale, but with it on the market for 8 months, we were loosing more money paying two mortgages....

I do not agree with your statement "they (sales agents) are only out for the money and can care less about you once the deal is done...." -
That might be true in your case, but it isn't always true.
I know many Purchasers who continue to have a personal friendship with their agents.

As far as your home sale, I obviously don't know the facts in your personal situation.
But I do know that homes that show well and are priced at market value usually sell quite quickly in The Villages.
Whereas homes that are priced above market value usually sit and sit until the price is reduced.

[Erika]

Would you be so kind as to explain the restrictions in the sales contract that were not properly explained?

[golf2140]

We bought our second home knowing full well that if our first house had not sold we would be the proud owner of two homes until the first sold. No double talk from sales

[Bonanza]

I would think that most of us would know by now that signing a real estate contract is a binding agreement.

Gracie: ANY type of contract is binding unless there is some type of disclosure written in.

Real estate contracts are all different, and that is particularly true of The Villages' contract. It is like no other and can be very daunting and confusing. Most buyers are not that seasoned and it's a whole new experience for them. We all would like to believe that a contract protects us but that is not always the case. In many cases, it protects the seller much more than the buyer. Such is the case with The Villages' contract. Even if you read it carefully, it is confusing.

It is the job of an agent to sit down with their buyer and explain everything in the contract, from soup to nuts. It is my understanding that is not always the case here, unfortunately.

It's very sad that the OP is having a problem. I would love to know what the issue is but he may not be able to say. Regardless, I wish him good luck and hope he can work things out.

[Bonanza]

If you are from certain states (we are from NY) there is a right of recision. The first home we went into contract on we had 7 days to rescind and decided this was not the house for us. Your real estate agent should know which states have this clause.

In Florida you only have a right of recision with condominiums.

[Bonanza]

Once again there are insinuations that the developer or their agents have acted unethically. The agent is not responsible for verbally reading the entire contract to buyers. There is no "fine print" it is all there. If you are not experienced in buying real estate-Read.
I never knew until beginning to follow TOTV that so many 55+ people were so naive. The OPs advice to read a contract is good. the inuendo is not good

Insinuations or not, when it is an agent that writes a real estate contract, the onus is on him/her to go over that contract in toto with the buyer. It most certainly is the responsibility of the agent to do that! It is part of the job.

Most buyers are not naive. However, many buyers here have only purchased a home once before and that once before may have been 40 years ago. Times have changed and who would remember that far back anyway? Just because you read a Villages' contract doesn't mean you understand everything. And the innuendo of which you speak might just very well be true.

[RickeyD]

In Florida you only have a right of recision with condominiums.


Your statement is untrue. Many states including NewYork protect their residents from the unsavory practices of out of state real estate transactions. New York residents that purchase ANY new real estate whether it be developed or raw land have a seven day right of recision. Florida recognizes this right and requires sellers to abide. How do I know this ? We exercised this right two times before we finally went to contract with the developer on a new house.

[rhood]

A friend just had a buyer back out of a sales contract on a preowned home here in The Villages. Just said they changed their mind.

[bonrich]

A bit off topic, but it was touched upon...

Has anybody used a "bridge loan" to facilitate a buy-home-first-then-sell-existing-home-after? No guarantees of course how quickly your home will sell, but the bridge loan is supposed to help you temporarily own two homes while you wait for your home to sell. It would surely be nice to leisurely shop for a house, act quickly when you find the right one, then sell your existing home even if it took a little while. It would certainly beat having to buy quickly after selling, or renting for a while or any similar scenario.

Yes, we used a bridge loan when we sold our first home and built our second home. Closing on the first was delayed about a week, so the bridge loan was used to cover that period. Ended up paying just interest for those days used before the sale and purchase was completed.

[graciegirl]

Most of us are seasoned buyers of real estate. We have moved several times and bought and sold properties over the course of our lives. My point is that signing a contract is never a baby game.

Bonanza, did you buy a new home here? We were satisfied with how things were handled and with all procedures. I saw no thing inferior than when we used a realtor with an R as an agent.

My point is that when you sign a real estate contract you should know that you just can't decide a few days later, ooooops I think I want to change my mind. It isn't like exchanging a pair of socks at Belks.

There is a real issue and hard feelings with many Realtors here in this area that the developer does not let them sell new houses. TOO BAD. If I were the developer I wouldn't either. The developer has a business model that works and they don't have to give anything away.

We have bought two new homes here and had no problem at all and we have built many new homes over the course of our lives and watched our daughter build two new homes and helped guide her and her husband..

We found that the process here was amazing. When you contract on a home to be built they told you the day and hour of your closing, now that they aren't building to suit they still tell you the day and hour of your closing. They don't do VA or FHA on new homes. You have to have the money or can borrow the money or you can't buy a new home here. I have no problem with that. We aren't children anymore.

I absolutely think that this is a flawless process to buy a home here and no one is trying to hoodwink you. THEY DON'T HAVE TO. They have a product that many, many people want.

[JoMar]

Just curious.....what is different in the T's and C's for a discounted property and a non discounted property?

[cmj1210]

Your statement is untrue. Many states including NewYork protect their residents from the unsavory practices of out of state real estate transactions. New York residents that purchase ANY new real estate whether it be developed or raw land have a seven day right of recision. Florida recognizes this right and requires sellers to abide. How do I know this ? We exercised this right two times before we finally went to contract with the developer on a new house.

Agreed, we have also exercised this right being our residence is in NY. When we sat with the agent he told us there are a few more states that also do this. When we rescinded on the first home we knew we had 7 days and my agent kept telling us we could do the contract and think about it. He had no problem with us rescinding more than once. I am sure this happens often.

[downeaster]

Just curious.....what is different in the T's and C's for a discounted property and a non discounted property?

Good question. I bought a spec home from the Developer that was "discounted". The discount was based on the premium charged for an oversize lot and that was 50% of the premium. The only condition I noted in the contract that differed from the norm was a condition relative to the closing date and time. Were we not able to close on a specified date and time the discount would not apply. Inasmuch as the closing was scheduled for 9:00AM on a Monday we chose to get here the night prior.

At the time I was a licensed real estate broker (not Realtor) and did not expect nor demand much explanation from the Developer's sales person.

As a former broker I have attended many closings. None went any where near as smooth, efficient and stress free as that one.

[Vladimir]

We waited until we were HOMELESS. But thank heavens we were taught to save our money and to proceed cautiously and not blame other people for our decisions.

Fiscally conservative Gracie.

We too waited until our house sold before buying a new house in TV. There are no guarantees that your home will sell and I would rather have the cash in hand first. We rented for 3 months before moving into our newly built house. Don't blame the developer - your decision, your responsibility.

[kstew43]

A friend just had a buyer back out of a sales contract on a preowned home here in The Villages. Just said they changed their mind.

that only works if the seller agrees to it.......otherwise the buyers would be out the deposit they gave in escrow.....

in other words, you placed a offer with a 5k deposit.. to show good faith.......the sellers accepted your offer...took there home off the market and made new home plans...and then you change your mind....kiss your 5k goof faith deposit goodbye....

[kstew43]

another thing....and I do consider myself a educated, smart.....???? person.....but back then, even I got caught up in the villages rhetoric......fun fun fun...

so when it came to reading and understanding all the contracts, all I could think of is the golf, the dancing and the clubs......who cared about the contracts......salesman told me all I needed to hear....where do I sign.....hurry already, i cant wait....and I was lost....

but that was my first time....now.....don't rush me.....

This is about how it should of went....

salesman......but I can only hold the house for 3 hours.....

me........i am gonna read everything....

salesman.....just so you know, 3 hours is a short time and others are waiting for this home....

me.....so what..... if I loose it, I loose it

salesman.....but the prices are going up everyday

me....I AM GOING TO READ EVERYTHING.....so slow your role..and stop rushing me....

[llaran]

the villages sales people are licensed agents but not Realtors and do not have the same code of ethics. When we bought they would not take an offer less than 95% or an offer with a contingency.

[downeaster]

For those who are not aware there is a difference between "Realtor" and real estate broker or salesperson.

A real estate broker or real estate agent is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients. In the United States real estate brokers and their salespersons (commonly called "real estate agents" or, in some states, "brokers")[1] assist sellers in marketing their property and selling it for the highest possible price under the best terms.

Realtor is a frequently used word in many countries to describe any person or company involved in the real estate trade, regardless of their NAR status or American residence. However, in the United States, the National Association of Realtors in 1949 and 1950 obtained registrations for the words "REALTOR"[6] and "REALTORS"[7] as collective trade marks.
In 2003, Jacob Zimmerman, a student who was not a member of NAR, petitioned the U.S. Patent and Trademark Office to cancel the trademarks, on the ground that "REALTOR" and "REALTORS" were generic terms rather than a trademark. On March 31, 2004, the USPTO's Trademark Trial and Appeal Board denied the petition

[graciegirl]

another thing....and I do consider myself a educated, smart.....???? person.....but back then, even I got caught up in the villages rhetoric......fun fun fun...

so when it came to reading and understanding all the contracts, all I could think of is the golf, the dancing and the clubs......who cared about the contracts......salesman told me all I needed to hear....where do I sign.....hurry already, i cant wait....and I was lost....

but that was my first time....now.....don't rush me.....

This is about how it should of went....

salesman......but I can only hold the house for 3 hours.....

me........i am gonna read everything....

salesman.....just so you know, 3 hours is a short time and others are waiting for this home....

me.....so what..... if I loose it, I loose it

salesman.....but the prices are going up everyday

me....I AM GOING TO READ EVERYTHING.....so slow your role..and stop rushing me....


They told us that, they could hold the house for only three hours, and we didn't believe them. That is how we got some very nice people living next door to us in the house we originally wanted.

It is NOT a sales ploy. AND you certainly don't hear often of any village rep rushing or pressuring anybody. I believe it is corporate policy NOT to push...and that is why I like the sales agents who work for The Villages.

[CFrance]

They told us that, they could hold the house for only three hours, and we didn't believe them. That is how we got some very nice people living next door to us in the house we originally wanted.

It is NOT a sales ploy. AND you certainly don't hear often of any village rep rushing or pressuring anybody. I believe it is corporate policy NOT to push...and that is why I like the sales agents who work for The Villages.
They told us that too. And it was true. Our sales agent showed us on the computer that there was someone behind us in line to snap up our house once the hold was up.

[kstew43]

i truely believe that if you take the time and read all the contracts, and then loose the house after the 3 hour hold......then it was not meant to be your house after all.....

Don't let them pressure you......and they DO pressure you......

in a perfect world we could look at the contract when/while we start the home search....then we all would be prepared......but I asked and he said no....so what does that tell you....florida realtor board allows the contract to be seen on the web, but the villages has there own contracts.

tell me thats not a pressure play...

[Bonanza]

Your statement is untrue. Many states including NewYork protect their residents from the unsavory practices of out of state real estate transactions. New York residents that purchase ANY new real estate whether it be developed or raw land have a seven day right of recision. Florida recognizes this right and requires sellers to abide. How do I know this ? We exercised this right two times before we finally went to contract with the developer on a new house.

Your post is not clear. Exactly what are you talking about when you mention "unsavory practices?" Unsavory meaning illegal? Elaborate, please.

First of all, we aren't speaking about New York; we're talking about Florida. Stay on topic.

Florida recognizes the right of recision of any type of property? Sorry -- not so! If you have backed out of two purchases of a home within the seven day period you mentioned, I assume the form of ownership was a condominium, the sellers were being very nice or a clause was written into the contract.

I have been in real estate 30 years and I don't know of any Florida law that recognizes any of the laws of New York State. I'd have to see that in writing as opposed to your word of mouth.

[RickeyD]

Your post is not clear. Exactly what are you talking about when you mention "unsavory practices?" Unsavory meaning illegal? Elaborate, please.



First of all, we aren't speaking about New York; we're talking about Florida. Stay on topic.



Florida recognizes the right of recision of any type of property? Sorry -- not so! If you have backed out of two purchases of a home within the seven day period you mentioned, I assume the form of ownership was a condominium, the sellers were being very nice or a clause was written into the contract.



I have been in real estate 30 years and I don't know of any Florida law that recognizes any of the laws of New York State. I'd have to see that in writing as opposed to your word of mouth.


The right of recision statute given to NY residents goes back to the days when unsavory people in Florida were selling swampland to unsophisticated northerners. Although this business practice may no longer be happening the statue remains in place. We were made aware of this from our Villages REA who actually encouraged us to use it to our benefit twice. We allowed our 7 days to pass on the third contract and went to closing on our designer in The Villlage of Lake Deaton 23 days later.

[pmbinnj]

The right of recision statute given to NY residents goes back to the days when unsavory people in Florida were selling swampland to unsophisticated northerners. Although this business practice may no longer be happening the statue remains in place. We were made aware of this from our Villages REA who actually encouraged us to use it to our benefit twice. We allowed our 7 days to pass on the third contract and went to closing on our designer in The Villlage of Lake Deaton 23 days later.

New Jersey also allows residents 7 days to back out of a contract with an out-of-state builder without suffering any loss (loss of deposit). The Villages salesperson told us of this right and he actually wrote that date on the top of our contract. As it came to be, we did cancel our first TV contract because there was an issue that was not fully disclosed to us (and was not evident when reading the contract - FEMA flood zone). We went through with the second contract -- happily! My husband and I have bought and sold more than a dozen properties so we are quite comfortable with real estate transactions but this one issue was a no-go for us so we cancelled. I am not sure how many other states have laws that allow their residents to cancel a real estate transaction but I do know NY and NJ give you a week (maybe 3 or 5 days for Ohio, Michigan, but very few others).

[rjm1cc]

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.

I always ask for every document in advance. Blanks are ok if it is not reasonable to fill. I say if I get any new documents I will read, study and maybe seek a legal opinion so schedule enough time.

[Bonanza]

Your statement is untrue. Many states including NewYork protect their residents from the unsavory practices of out of state real estate transactions. New York residents that purchase ANY new real estate whether it be developed or raw land have a seven day right of recision. Florida recognizes this right and requires sellers to abide. How do I know this ? We exercised this right two times before we finally went to contract with the developer on a new house.

Your post is not clear. Exactly what are you talking about when you mention "unsavory practices?" Unsavory meaning illegal? Elaborate, please.

First of all, we aren't speaking about New York; we're talking about Florida. Stay on topic.

Florida recognizes the right of recision of any type of property? Sorry -- not so! If you have backed out of two purchases of a home within the seven day period you mentioned, I assume the form of ownership was a condominium, the sellers were being very nice or a clause was written into the contract.

I have been in real estate 30 years and I don't know of any Florida law that recognizes any of the laws of New York State. I'd have to see that in writing as opposed to your word of mouth.

The right of recision statute given to NY residents goes back to the days when unsavory people in Florida were selling swampland to unsophisticated northerners. Although this business practice may no longer be happening the statue remains in place. We were made aware of this from our Villages REA who actually encouraged us to use it to our benefit twice. We allowed our 7 days to pass on the third contract and went to closing on our designer in The Villlage of Lake Deaton 23 days later.

First you said that this New York law was a right and in your subsequent post, you said it was a statute (I assume you meant statute, not statue). That being the case, all statutes have a number. What is the number of this statute to which you refer?

I reiterate -- there is no such law, hence, no such statute. Your Villages agent gave you bad information. The only (other) thing it can be is something that is strictly a Villages thing.

[RickeyD]

First you said that this New York law was a right and in your subsequent post, you said it was a statute (I assume you meant statute, not statue). That being the case, all statutes have a number. What is the number of this statute to which you refer?

I reiterate -- there is no such law, hence, no such statute. Your Villages agent gave you bad information. The only (other) thing it can be is something that is strictly a Villages thing.


Admitting that you are incorrect is the first step. Look back a couple of posts to pmbinnj post. He is from New Jersey. They have the same right of recision as do New York residents.

[pmbinnj]

First you said that this New York law was a right and in your subsequent post, you said it was a statute (I assume you meant statute, not statue). That being the case, all statutes have a number. What is the number of this statute to which you refer?

I reiterate -- there is no such law, hence, no such statute. Your Villages agent gave you bad information. The only (other) thing it can be is something that is strictly a Villages thing.

Bonanza -- Below is the language legally required to be inserted into our original contract for purchase of a home in TV. You can assume similar language was in the NY contract. I assure you that some out of state buyers (NY, NJ, Ohio at a minimum) are protected by laws in their home state -- contrary to whatever you incorrectly believe. "Pursuant to New Jersey law, you have the right to cancel your contract or agreement without cause by sending or delivering written notice of cancellation to the developer or his agent by midnight of the seventh (7th) calendar day on which such contract or agreement was executed. All monies paid will be promptly refunded."Feel free to look up statute numbers yourself.