Buying a new home in TV - Help!

[Veronica]

Hello! I am a single lady hoping to move to TV as soon as I sell my house here in Connecticut. Is there any negotiating room on the new homes in TV -or is the price you see the price you have to pay? Also, can the bond be part of the mortgage? Thank you! :wave:

[graciegirl]

Welcome to you. I hope you find just the right home for you and I hope you will find many friends and wonderful things to do.

I know that you cannot negotiate the price of a new home. We didn't have a mortgage so I don't know about that. A lot of people told us NOT to pay off the bond because that house we bought would be the first home here. We would probably sell it and buy another, which in fact is what we are planning to do. We bought two years ago.

[getdul981]

Veronica - As Gracie said, there is no negotiation on the price. The best you can hope for is that from time to time, they do have a price reduction to help stimulate things.

As far as the bond, we are having our set up as part of the escrow at the mortgage co. Contact Anthony at Citizens First Wholesale Mortgage and he will fix you up. PM me if you need any more info.

Good luck.

[Veronica]

Thank you, Gracie. Much appreciated! I hope to meet you one day soon! Linda

[Veronica]

Thank you, Greg. Much appreciated! I hope to meet you one day soon. Linda

[getdul981]

U2

[logdog]

Veronica - As Gracie said, there is no negotiation on the price. The best you can hope for is that from time to time, they do have a price reduction to help stimulate things.

As far as the bond, we are having our set up as part of the escrow at the mortgage co. Contact Anthony at Citizens First Wholesale Mortgage and he will fix you up. PM me if you need any more info.

Good luck.

Notice Greg said the bond is part of the escrow which is different from making it part of the mortgage (if I understand your question correctly). Your mortgage is for the home purchase price which excludes the bond. The mortgage company will happily take extra payments each month over and above the actual mortgage amount to save up in an escrow account to make the annual insurance, property tax and bond payments.

[ldj1938]

If you are into negotiating price there are a lot of really nice resales in TV. Many have been on the market for some time and I'm sure there is a lot of negotiating room. You might try a realtor, other than TV to work while for a day or two. TV realtors really want to sell new. Just a thought!

[Veronica]

Thank you! Much appreciated!

[getdul981]

Notice Greg said the bond is part of the escrow which is different from making it part of the mortgage (if I understand your question correctly). Your mortgage is for the home purchase price which excludes the bond. The mortgage company will happily take extra payments each month over and above the actual mortgage amount to save up in an escrow account to make the annual insurance, property tax and bond payments.

That is correct to my understanding. The bond payment comes due once a year and I think it's July 1st. Folks on here that pay it separate may know otherwise. If you have enough to pay off the bond at the due date, and would like to do so, you can do so. I also understand that you cannot pay a part other than 1 year or the full amount. (does that make sense?)

[Ohiogirl]

yep, thats the deal either pay it down each year or pay it off in full. We just paid ours in full - but we are determined we will not be moving to a different house in TV (I hope we are correct).

[Tbugs]

There is no negotiations on new houses. Sometimes, there are price reductions but they are usually just a selling gimmick.

My suggestion is to work with an "outside realtor" as well as a Villages Realtor. The Villages Realtor can only show houses listed by Villages Realty and the outside realtor can only show houses not listed by Villages Realty. I bought my house 1 year ago from ERA Tom Grizzard agency (Mike Herman) on Hwy 441 in Lady Lake. I live in Glenbrook in a beautiful home built in 2002. There is only a $2,300 bond left on the house as compared to several of my friends who have new homes purchased the same time and have bonds of $20,000. My bond payment this year was only $435 as compared to their $1,650.

"Used" houses can usually be negotiated in price with the owner and landscaping in established neighborhoods is mature and there is no construction dirt or noise like in new neighborhoods.

We love The Villages.

[redwitch]

If you are disciplined, try to avoid getting an escrow account. They are wonderful moneymakers for the lenders, but of no real benefit to you -- you don't collect interest on them, it is common for the lender to under-estimate the amounts due on insurance, taxes, bonds and, thus, you end up having to cough some more money at year's end or the lender over-estimates and you get a check back with little to no interest. So, if you can take the amount due that would be in the escrow account and put deposit it on a monthly basis, you'll actually come out ahead. However, you do have to be disciplined and not touch these funds for any reason (the last thing you want to do is lose your house because you can't pay the bond or the taxes).