Why is the bond the same for new area?

[gmdds]

We are looking at houses in the new southern area...the bond is the same approx. $30K vs. the other previous areas. With the county paying for the roads in the new area (thus 25% tax increase), why has the bond stayed the same when the developer isn’t incurring that massive cost??

[pauld315]

We are looking at houses in the new southern area...the bond is the same approx. $30K vs. the other previous areas. With the county paying for the roads in the new area (thus 25% tax increase), why has the bond stayed the same when the developer isn’t incurring that massive cost??

Because they would have been much higher otherwise. The county doesn't pay for the roads, the taxpayers do.

[gmdds]

We all know that the county are the taxpayers!

[Bogie Shooter]

We are looking at houses in the new southern area...the bond is the same approx. $30K vs. the other previous areas. With the county paying for the roads in the new area (thus 25% tax increase), why has the bond stayed the same when the developer isn’t incurring that massive cost??

Morse & Buena Vista Blvd's were never a part of the residential Bond.

https://districtgov.org/departments/Finance/bond-financeFAQ.pdf

[DARFAP]

Bonds are for the developer to recoup costs of building amenities, planting flowers, etc. At least that's what I was told when I bought.

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[NotGolfer]

Bonds are for the developer to recoup costs of building amenities, planting flowers, etc. At least that's what I was told when I bought.

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Bonds pay for the infa-structure of the neighborhoods....ie. power, sewer etc. that goes in to be able to build. Our amenity fees pay for the flowers etc.

[dewilson58]

Bonds pay for the infa-structure of the neighborhoods....ie. power, sewer etc. that goes in to be able to build. Our amenity fees pay for the flowers etc.






Bingo.

[bilcon]

The bonds are $30K in the newer areas? WOW, they were only in the low $20K above 466A for a designer home. Am I right?

[birdiebill]

I imagine the increased cost of the bond relates to the increased costs of labor and materials for developing all the infrastructure WITHIN the new villages in the newer developments.

[billethkid]

The bonds are $30K in the newer areas? WOW, they were only in the low $20K above 466A for a designer home. Am I right?

Only!?
:duck:

[Northerner52]

Smaller lot size

[Bogie Shooter]

Bonds are for the developer to recoup costs of building amenities, planting flowers, etc. At least that's what I was told when I bought.

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https://districtgov.org/departments/Finance/bond-financeFAQ.pdf

[jebartle]

We are looking at houses in the new southern area...the bond is the same approx. $30K vs. the other previous areas. With the county paying for the roads in the new area (thus 25% tax increase), why has the bond stayed the same when the developer isn’t incurring that massive cost??

NO BOND lake county!

[Bogie Shooter]

NO BOND lake county!

What bond are you referring to?

[Advogado]

The real question is, "How does the Developer get by without disclosing the amount of the bond when he advertises house prices?" Isn't this deceptive advertising?

A prospective buyer, comparing advertised prices of houses in The Villages versus other retirement communities, has no way of knowing that the Developer is understating the real price of new houses by as much $33,000 (or more when you consider the interest and "administration" fee).

[Challenger]

Bonds are for the developer to recoup costs of building amenities, planting flowers, etc. At least that's what I was told when I bought.

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Wrong

[Advogado]

NO BOND lake county!

I think that you will find that you are mistaken about that: Lake County Amortization Schedules (https://www.districtgov.org/departments/Finance/amortization_lake.aspx)

[Challenger]

NO BOND lake county!

Cost of infrastructure is included in house price in most of Lake

[Challenger]

The real question is, "How does the Developer get by without disclosing the amount of the bond when he advertises house prices?" Isn't this deceptive advertising?

A prospective buyer, comparing advertised prices of houses in The Villages versus other retirement communities, has no way of knowing that the Developer is understating the real price of new houses by as much $33,000 (or more when you consider the interest and "administration" fee).

I have wondered about this since moving here in 2010. I believe that it is an intentional omission by the sales force to hide the total cost of the property. I have talked to several Villages sales people who do not even clearly understand the financial implications of the Bond for the buyers. It is in fact part of the total purchase consideration for the property. Any other explanation is clearly and provably wrong. I believe that sales people could be in jeopardy for not clearly stating this in their sale pitch and written materials

[tophcfa]

The real question is, "How does the Developer get by without disclosing the amount of the bond when he advertises house prices?" Isn't this deceptive advertising?

A prospective buyer, comparing advertised prices of houses in The Villages versus other retirement communities, has no way of knowing that the Developer is understating the real price of new houses by as much $33,000 (or more when you consider the interest and "administration" fee).

100% of all new homes are sold through the captive Villages Real Estate Company, not the Multiple Listing Service. The VLS has their own policies, which obviously don't require the same level of disclosure as homes sold by licensed real estate agents through the MLS. That, along with the fact that many used homes no longer have a bond balance, are a couple of the reasons we only looked at pre-owned homes when we bought in the Villages.

[Velvet]

House buyers need to do their own research. To rely on the word of a sales person who has a vested interest in an outcome is absolutely naive. That being said, I had a very conscientious VLS agent and I wished he could have sold me the house I bought. Unfortunately, it was not to be. I am still very happy with my home though!

[Dond1959]

The bonds are for the CDD which is a common vehicle in Florida to pay for infrastructure. Not all developments use them but a lot do outside The Villages. I built in 2018 and the bond and yearly payment was clearly pointed out to me in the materials I received BEFORE signing for my lot. There was no surprise that this annual payment was going to occur. I am not sure what others have received but it appeared to be a standard form with all the costs included. All the other fees and costs were also clearly spelled out before I signed for the lot. My experience was the developer and my sales agent didn’t hide or fail to disclose anything.

Finally, the roads within the development are part of that infrastructure. So the developer paid for Fenney Way and all the roads around it in the south. The 25% tax increase will pay for maintenance of roads the county has taken over and new regional roads to prepare for future growth. I wish the county would have planned better but I am glad they are adding roads ahead of the growth.

[Velvet]

I would guess that those who are forced to pay this tax increase but do not benefit are probably not over joyed.

[Advogado]

The bonds are for the CDD which is a common vehicle in Florida to pay for infrastructure. Not all developments use them but a lot do outside The Villages. I built in 2018 and the bond and yearly payment was clearly pointed out to me in the materials I received BEFORE signing for my lot. There was no surprise that this annual payment was going to occur. I am not sure what others have received but it appeared to be a standard form with all the costs included. All the other fees and costs were also clearly spelled out before I signed for the lot. My experience was the developer and my sales agent didn’t hide or fail to disclose anything.

Finally, the roads within the development are part of that infrastructure. So the developer paid for Fenney Way and all the roads around it in the south. The 25% tax increase will pay for maintenance of roads the county has taken over and new regional roads to prepare for future growth. I wish the county would have planned better but I am glad they are adding roads ahead of the growth.
Did the sales agent disclose the Admin Fee that you pay every year? If so, could you explain it? (I honestly don't know the basis for it.)

As to your second point, the construction of NEW roads are necessitated by the Developer's massive expansion of The Villages. They should be paid for via the Developer's impact fee, not by the taxpayers.

[justjim]

Cost of infrastructure is included in house price in most of Lake

Homes purchased in Pine Ridge and Pine Hills in Lake County had a bond. In some of the older sections (Historical section) of TV did not have a bond.

[Altavia]

As to your second point, the construction of NEW roads are necessitated by the Developer's massive expansion of The Villages. They should be paid for via the Developer's impact fee, not by the taxpayers.

The county is responsible for the roads Because all taxpayers benefit from the growth via additional tax revenue from the new homes. That's why taxes have not increased in over a decade.

No investment in the glue that connects the community means you're mortgaging the assets of you heirs via much higher taxes later

The less than a dollar a day for $300k in assessed value increase is essentially an investment to minimize future tax increases relative to freezing growth at the current level.

At the end of the day, there is no budget Santa Claus, the consumer (homeowners/tax payers) will pay no matter how you split the pie.

[Velvet]

Yes, the question is which homeowners have to pay.

I love the future argument, our econometric department always had a bit of a hard time seeing into the future as there are so many variables to consider.

[Advogado]

The county is responsible for the roads Because all taxpayers benefit from the growth via additional tax revenue from the new homes. That's why taxes have not increased in over a decade.

No investment in the glue that connects the community means you're mortgaging the assets of you heirs via much higher taxes later

The less than a dollar a day for $300k in assessed value increase is essentially an investment to minimize future tax increases relative to freezing growth at the current level.

At the end of the day, there is no budget Santa Claus, the consumer (homeowners/tax payers) will pay no matter how you split the pie.
Please read the definition of "impact fee" on the Sumter County website.

[Mleeja]

I chuckle every time some mentions “the developer should pay higher impact fees”. Do they really think the developer is going to eat these fees? No, they go into the price of the home. The impact fees are lower because many of the items covered by impact fees in other areas are addressed by the developer (and the home owner) through the development bond.

[egmcaninch]

We lived in Nashville for 25 years. The development costs were folded into the cost of the homes - no "bonds". However, it would seem that splitting off the development cost into a "bond" would lower real estate taxes. Correct?

[dewilson58]

I chuckle every time some mentions “the developer should pay higher impact fees”. Do they really think the developer is going to eat these fees? No, they go into the price of the home. The impact fees are lower because many of the items covered by impact fees in other areas are addressed by the developer (and the home owner) through the development bond.


Yep.


$1/day



No body loves increased Property Taxes, but there are about five posters who won't let this go. The increase is here, move on & vote differently if they want.

[tuctba]

NO BOND lake county!



May have been true at one time. Our Pine Ridge bond is 28K.


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[Bkosloski]

We are looking at houses in the new southern area...the bond is the same approx. $30K vs. the other previous areas. With the county paying for the roads in the new area (thus 25% tax increase), why has the bond stayed the same when the developer isn’t incurring that massive cost??

We are in Sanibel and our bond is $30,000.

[DOTT0206]

All I have to say is that every county commissioner who is currently sitting on the commission needs to be voted off when they are up for election. The newly elected county commissioners should consider reviewing the actions of the current county manager and a possible replacement.

[alurb]

We are looking at houses in the new southern area...the bond is the same approx. $30K vs. the other previous areas. With the county paying for the roads in the new area (thus 25% tax increase), why has the bond stayed the same when the developer isn’t incurring that massive cost??30,000 bond + 25% tax increase + increase in house valuation.

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[drhntr8]

The bonds have gone up and the developer is not doing what has always been done..they are to pay our share of the impact fees that are now due...the developer has always built the roads and donated them to the county as part of his share of the impact fees.

[Advogado]

All I have to say is that every county commissioner who is currently sitting on the commission needs to be voted off when they are up for election. The newly elected county commissioners should consider reviewing the actions of the current county manager and a possible replacement.
The new commissioners should also request an investigation of why the present commissioners hiked taxes instead of the Developer's $901 impact fee to pay for infrastructure that should have been paid for by increasing the fee.

[Dlbonivich]

Bonds have always been popular in Florida. The Villages did not invent the idea. I have sold new construction all over Florida and some developers do a bond and some do not. I find the ones with bonds have better amenities and they are better maintained. In response to the amount of bond being paid south of 44, you are paying for interior streets lamp posts rec centers sewers etc. the major improvements to county roads to accommodate new traffic is being provided by tax dollars.

[Altavia]

Bonds pay for the infa-structure of the neighborhoods....ie. power, sewer etc. that goes in to be able to build. Our amenity fees pay for the flowers etc.

The bond has a positive aspect from my perspective because at least in the Villages, this means the local amenities are substantially in place when you move in. This keeps property values high providing more tax revenue.

Otherwise in my experience, the clubhouse and pool tend to not be finished until the development is substantially completed. Or not at all if the developer fails.

[champion6]

NO BOND lake county!

I think that you will find that you are mistaken about that: Lake County Amortization Schedules (https://www.districtgov.org/departments/Finance/amortization_lake.aspx)The correct statement is: No bond in Lady Lake.

The homes in Pine Hills and Pine Ridge - which are in Lake County - do have a bond and are shown at the link in Advogado's post.

[Advogado]

The county is responsible for the roads Because all taxpayers benefit from the growth via additional tax revenue from the new homes. That's why taxes have not increased in over a decade.

No investment in the glue that connects the community means you're mortgaging the assets of you heirs via much higher taxes later

The less than a dollar a day for $300k in assessed value increase is essentially an investment to minimize future tax increases relative to freezing growth at the current level.

At the end of the day, there is no budget Santa Claus, the consumer (homeowners/tax payers) will pay no matter how you split the pie.
You can read about impact fees on the Sumter County website. There is no doubt that the infrastructure resulting from the Developer's massive expansion of The Villages should be paid for by an increase in the Developer's $901 impact fee and not by the taxpayers of Sumter County through a tax increase.

Every time you pay your taxes from here on out, you are, in reality, writing a check to the Developer in the amount of the tax increase. That doesn't bother you?

[Advogado]

Bonds have always been popular in Florida. The Villages did not invent the idea. I have sold new construction all over Florida and some developers do a bond and some do not. I find the ones with bonds have better amenities and they are better maintained. In response to the amount of bond being paid south of 44, you are paying for interior streets lamp posts rec centers sewers etc. the major improvements to county roads to accommodate new traffic is being provided by tax dollars.

The problem here is not the bonds, it is the tax increase.

Bonds are fine (if not used to overpay the Developer), but it is amazing that the Developer has gotten away without disclosing their existence when advertising house prices.

[OhioBuckeye]

The bonds are $30K in the newer areas? WOW, they were only in the low $20K above 466A for a designer home. Am I right?
Don’t know why their bonds are higher but the only thing I can think of is TV are selling the same designer in the new area ( Fenney) for less money than what people in the old area that are trying to sell their preowned homes, then making up the difference on the extra $10,000. extra from the bonds. I really think people don’t do their homework before buying.

[manaboutown]

The problem here is not the bonds, it is the tax increase.

Bonds are fine (if not used to overpay the Developer), but it is amazing that the Developer has gotten away without disclosing their existence when advertising house prices.

The Villages agent I used dodged any discussion whatsoever about the bonds. He never brought the fact that a pile of bond indebtedness comes with every new house. I knew about the bonds from TOTV and asked him about them. He just shrugged his shoulders and admitted yes there are bonds but when I asked him how much he professed ignorance of their amount. Hard to believe but I found his actions and words at least underhanded if not deceptive.

[Advogado]

The Villages agent I used dodged any discussion whatsoever about the bonds. He never brought the fact that a pile of bond indebtedness comes with every new house. I knew about the bonds from TOTV and asked him about them. He just shrugged his shoulders and admitted yes there are bonds but when I asked him how much he professed ignorance of their amount. Hard to believe but I found his actions and words at least underhanded if not deceptive.
You are not alone.

It is incredible that the Developer has gotten away for decades without disclosing the existence of the bond in his advertising. It seems to amount to about 10% of the value of the house and is really a part of the purchase price.

In other words, the Developer's ads understate the true cost of a new house by about 10%. It is like a car dealer advertising a new car for $30,000 and later you find out that there is an additional $3,000 charge for the engine.

If you feel that you were deceived by the Developer's advertising, I would suggest you file a complaint with both:

>the Federal Trade Commission: - FTC Complaint Assistant (https://www.ftccomplaintassistant.gov/#crnt&panel1-1) and

>the Florida Attorney General: Florida Attorney General - Consumer Protection Division Contact Form (http://myfloridalegal.com/Contact.nsf/Contact?OpenForm&Section=Consumer_Protection_Division)

[mjdollard]

The county is not paying for the roads in the new areas, the county is rebuilding/expanding their own roads. The tax increase is because the county had poor planning for future needs.
The developer builds the roads in the areas they are developing and then turns them over to the county - per the last independent audit of the county the developer turned over $39 million worth of roads to the county.
The bonds only cover specific assets - roads, water and sewer, sidewalks, street lights etc. It does not cover landscaping or recreation facilities, they remain property of the developer. The developer has periodically sold the amenities to the homeowners.
The higher bond costs is most likely due to higher construction costs.
And other posters are correct - not every county uses bonds, and you some states don't allow it. You may be familiar with TIF funding - Taxable Incremental Financing - that some states use, it is similar to these bonds.

[Dilligas]

Bonds are also there to provide amenity maintanence for the future.

[eweissenbach]

I have wondered about this since moving here in 2010. I believe that it is an intentional omission by the sales force to hide the total cost of the property. I have talked to several Villages sales people who do not even clearly understand the financial implications of the Bond for the buyers. It is in fact part of the total purchase consideration for the property. Any other explanation is clearly and provably wrong. I believe that sales people could be in jeopardy for not clearly stating this in their sale pitch and written materials

About six years ago I was viewing a resale open house and asked the Villages agent what the remaining bond was. She said $20,000, so I replied that the REAL asking price of the home was Price + $20,000. She shot me a look (there were other potential buyers around) and said "Oh you can't count the bond in the price, it is paid with the taxes and you will hardly notice it." I replied that, "You must think I'm an idiot if you think I won't notice and extra $1,800 added to my tax bill". I thought at that moment I would never use that agent for any of my transactions. Add to that the bond is non ad-Valorem, meaning not tax deductible, and on most property they are at a higher interest than a mortgage. I am not implying they are necessarily a bad thing, but they are something that should be fully disclosed and fully understood by buyers.

[kansasr]

I for one am tired of hearing the excuse, "but the increase only $1 a day for most residents".

The bottom line is the county commissioners are increasing the tax revenues by 39% in one year, despite a 2.8% annual population increase, according to the most recently available US Census numbers.

25% is coming from an increase in the millage rate being paid directly by residents, the additional revenue coming from increases in property values and new development.

It's not the impact of the increase on residents. It's the almost criminal mismanagement of country finances by the current commission that has resulted in a totally unwarranted increase in tax revenues.

[Chatbrat]

What is the current interest on the bond? reason for asking , would like to know how much we saved in interest by paying off the bond when we bought 9 years ago.

[Velvet]

I had to laugh when you said, the agent claimed that the bond was not part of the cost of the house. My agent also claimed it wasn’t. Although technically it isn’t. I just thought they were nuts and didn’t argue about it.

Just looked, at my area on a designer home the interest is 4.25% plus $82 administration fee, on the bond currently.

[Chatbrat]

BS, try and buy a house here without paying for a bond in isn't going to happen

[eweissenbach]

I had to laugh when you said, the agent claimed that the bond was not part of the cost of the house. My agent also claimed it wasn’t. Although technically it isn’t. I just thought they were nuts and didn’t argue about it.

Just looked, at my area on a designer home the interest is 4.25% plus $82 administration fee, on the bond currently.

A few years ago the bond interest was 6%

[Chatbrat]

I'm not an actuary so after how many years is the bod paid off and how much interest will you have paid, and if I'm correct the interest on the bond is not deductible

[Velvet]

The thing is they are fair and upfront about it. This is the bond on my home.

[NavyVet]

Add to that the bond is non ad-Valorem, meaning not tax deductible, and on most property they are at a higher interest than a mortgage.

So true. And that really sucks for 100% Disabled Veterans who are exempt from the Ad Valorem side of the tax bill.
Back in 2003, when the bond was 'only' $5000, we were told just think of it as part of your annual "property" taxes. Now with bonds of $30,000 plus, it's a huge chunk of the non-ad valorem bill every year. Though the interest we have to pay on those bonds is ridiculous, and I have paid off 2 bonds to get my tax bill down, I'm not paying off the 3rd one early. Selling 2 Bond Paid homes did not net that much difference in the price we got to make up for them.
Whether adding the cost to the price of a home or mentally considering it as a "property tax," new buyers definitely should consider the total cost which is over-inflated for what you get. :shrug:

[Bogie Shooter]

So true. And that really sucks for 100% Disabled Veterans who are exempt from the Ad Valorem side of the tax bill.
Back in 2003, when the bond was 'only' $5000, we were told just think of it as part of your annual "property" taxes. Now with bonds of $30,000 plus, it's a huge chunk of the non-ad valorem bill every year. Though the interest we have to pay on those bonds is ridiculous, and I have paid off 2 bonds to get my tax bill down, I'm not paying off the 3rd one early. Selling 2 Bond Paid homes did not net that much difference in the price we got to make up for them.
Whether adding the cost to the price of a home or mentally considering it as a "property tax," new buyers definitely should consider the total cost which is over-inflated for what you get. :shrug:

So many other options.

[dewilson58]

I had to laugh when you said, the agent claimed that the bond was not part of the cost of the house. My agent also claimed it wasn’t. Although technically it isn’t. I just thought they were nuts and didn’t argue about it.

Just looked, at my area on a designer home the interest is 4.25% plus $82 administration fee, on the bond currently.




With the admin fee, the effective interest rate is 6%-7%. Good incentive to pay off early.

[Velvet]

Yes, and thank you for the calculation.

[Dond1959]

Did the sales agent disclose the Admin Fee that you pay every year? If so, could you explain it? (I honestly don't know the basis for it.)

As to your second point, the construction of NEW roads are necessitated by the Developer's massive expansion of The Villages. They should be paid for via the Developer's impact fee, not by the taxpayers.

On your first point, I don’t recall directly if the admin fee on the bond was disclosed or not, but the fee does not surprise me. Any bond issuance needs an agent to collect and distribute payments, keep accounting records and do other administrative tasks. This is not a unique fee for our bonds. It can either be buried in the interest rate and disclosed in the paperwork or a separate fee. You may think it is excessive but it is a normal part of a bond issuance.

On your second point about the roads, there is a regional road plan that has been agreed to by surrounding counties. My understanding is that is where the new roads will be built. Will it benefit the developer, absolutely. But it will also benefit those of us in the southern part of the county. My point is really to contrast areas where I lived before that built all the homes first and worried about traffic and roads second. Even if it is going to cause me some pain through increased taxes I am happy they are doing the roads before building homes.

[Altavia]

With the admin fee, the effective interest rate is 6%-7%. Good incentive to pay off early.

Does that calculation consider an inflation estimate over the period of the bond?

[retiredguy123]

I hate having any debt at all. But, if you are going to sell your house within the next 5 years or so, I think you will come out ahead by not paying off the bond. In most cases, you will not be able to increase your selling price to cover the cost you incurred to pay off the bond.

[Craig Vernon]

I know that has been historically true for the Villages however if you raise taxes you lose value compared to other areas that do not. So your value may not cover your bond expense it depends on whether the developer and county exceed the market and they are adding 30,000 more homes. We will all see.

[Goldwingnut]

A few months ago I put out a video that explained the bonds, what they're for, and how they are determined. Some may not have seen it. Here it is again.

Bond Video (https://youtu.be/nGwf7AcmyEI)

[retiredguy123]

With the admin fee, the effective interest rate is 6%-7%. Good incentive to pay off early.
Thanks for getting me to look at my bond. The current balance on my 4 year old bond is about $15,000. The interest rate is 4.3 percent. When you include the admin fee, the effective rate is only 4.8 percent. That is less than I usually earn on my diversified investment portfolio, so I can't see any reason to pay it off early.

[manaboutown]

Thanks for getting me to look at my bond. The current balance on my 4 year old bond is about $15,000. The interest rate is 4.3 percent. When you include the admin fee, the effective rate is only 4.8 percent. That is less than I usually earn on my diversified investment portfolio, so I can't see any reason to pay it off early.j

Since the interest and fees on the bond are not tax deductible one would need to earn - risk free - in excess of 4.8% AFTER TAXES in order to justify not paying off the bond. At least from an income viewpoint. Of course if one pays off the bond and turns around and sells the house one would be unable to price the house sufficiently higher than competing for sale homes with bonds to recover the paid off bond principal.

[retiredguy123]

j

Since the interest and fees on the bond are not tax deductible one would need to earn - risk free - in excess of 4.8% AFTER TAXES in order to justify not paying off the bond. At least from an income viewpoint. Of course if one pays off the bond and turns around and sells the house one would be unable to price the house sufficiently higher than competing for sale homes with bonds to recover the paid off bond principal.
I would just point out that, for most retired people, tax deductible interest is a non-issue. With the new standard tax deductions, most people are not able to take advantage of itemized deductions. I cannot itemize any deductions, whether I pay the bond interest or not, even if it were deductible.

[tophcfa]

BS, try and buy a house here without paying for a bond in isn't going to happen

We did, bought a beautiful pre-owned home with a bond balance of zero.

[Kilmacowen]

The thing is they are fair and upfront about it. This is the bond on my home.

I don't have a bond but this bill looks like 30 years, 2007- 2037

[OhioBuckeye]

BS, try and buy a house here without paying for a bond in isn't going to happen
You’re exactly right Chatbrat! TV doesn’t care if you buy or live there because there’s a line of waiting people that don’t care what the bond or tax are!

[Chi-Town]

The preowned house I bought had the bond paid. It was mentioned on the blurb sheet, but the agent never mentioned it. Since not being acquainted with the bond process I didn't think much about it and did not consider it when making an offer. So I would guess that paying off your bond early won't be much of a consideration on the sell price to the buyer.

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[bilcon]

A mere pittance. You're right "only" was a bad choice of words.

[Velvet]

I don't have a bond but this bill looks like 30 years, 2007- 2037

Yes I just bought this year, and the price I offered reflected the bond balance and that I will update the appliances.

I appreciate the thoughts about the bond being paid off.

What I wasn’t sure of was the SECO transformer at the back but I took my EMF measuring machine and the house is very low.