Question on making an offer

[mikers31]

Whether its a new or existing home in The Villages I was wondering if offers are made, and accepted, contingent on selling there present home and if so, is any money forfeited if another offer appears and the house is lost.
Thanks in advance for any reply. This sight is great. Looking forward to 2 weeks in August and the month of February of 2010.

[Army Guy]

Mike, on new homes, there is no offer. Your Rep tells you the price and you either buy or not. They price with what is called a "discount" off the list price. On pre-owned you have room to haggle.

Army Guy

[spk7951]

As previously stated there is no negotiation on new home prices.

One of our neighbors is looking to move into a larger house. They have found a house they want to buy and have entered into an agreement. That agreement allows them only 30 days to try to sell their current home before they have to either commit to a closing date or back out. Not sure if there are any penalties involved for backing out.

[Army Guy]

They told me that if I have to move my closing date out of the 30 day window, and not lose the DP, I would have to add approx $250 a day onto the price.

Army Guy

[katezbox]

Mike,

Sounds like you are referring in part to a "Hubbard Clause." We didn't ask the TV sales reps if they were ever accepted. I would think for listings by other realtors (see the ad on this site) that acceptance of a Hubbard is at the discretion of the seller.

Can anyone who bought through a realtor confirm?

[Barefoot]

Whether it's a new or existing home in The Villages I was wondering if offers are made, and accepted, contingent on selling there present home and if so, is any money forfeited if another offer appears and the house is lost.
Thanks in advance for any reply. This sight is great. Looking forward to 2 weeks in August and the month of February of 2010.

On resale homes, contingent offers are sometimes accepted. More so now than in the past. It is up to the owner to decide, based on advice from the listing agent. (It has been my experience that MLS agents encourage owners to accept contingent offers more than VLS agents).

A contingent agreement normally contains an "escape clause". This means if the owner receives another offer which they want to accept, the purchaser has a stated amount of time (e.g., 72 hours), to remove the contingency clause and firm up. Otherwise they lose the property and the deposit is returned.

[mikers31]

Thats the way I rememeber it from when we purchased a house years ago. (72 hours) Thanks for the reply's.