Question for those who have bought preowned

[BettyCrocked]

We are putting a mortgage on our house here in alabama to buy a home down there. The mortgage is going to take 2-3 weeks but we are being rushed into having a home inspection by an inspector suggested by the villages realtor. Why would they put in the contract that we have to get the inspection within 10 days when they know we won't have our mortgage secured by then? If something falls through on the mortgage, I obviously don't want to pay for an inspection on a home I'm not buying. I also don't know if I should trust an inspector that was lined up by the villages realtor.
Any words of wisdom for me?

[cahweh1975]

Is the inspection required in order to secure the mortgage?

[tucson]

Make sure you have the mortgage on your home first. Sometimes the realtor gives wrong advice/information. They should know if a buying doesn't have their finances/equity loan set in place, that they have no right telling them to have a inspection done in 10 days.

[crummybuttons]

I bought a pre-owned home also but.....the Villages never told me who I have to get for an inspection. I had a choice of about 9. I was very happy.


We are putting a mortgage on our house here in alabama to buy a home down there. The mortgage is going to take 2-3 weeks but we are being rushed into having a home inspection by an inspector suggested by the villages realtor. Why would they put in the contract that we have to get the inspection within 10 days when they know we won't have our mortgage secured by then? If something falls through on the mortgage, I obviously don't want to pay for an inspection on a home I'm not buying. I also don't know if I should trust an inspector that was lined up by the villages realtor.
Any words of wisdom for me?

[gomoho]

Inspections are usually done early on in the process so if any issues arise they can be negotiated or repaired or you may decide you don't want the house after all if something big came up. This way the deal falls apart sooner rather than later and the seller can move on to the next buyer and so can you. You could ask the Village salesperson for 3 names to choose from as far as an inspection so you feel more comfortable.

[graciegirl]

Are you talking about a Villages sales rep or an MLS agent from The Villages area?

[Blessed2BNTV]

We recently purchased a resale and used Harwood Inspection Services and were very pleased with his services and the time he spent on our home. He was very thorough and took pictures of all areas of our home and placed the pictures in his report.

352-638-6288

[Bill-n-Brillo]

You might want to contact faithfulfrank, a TOTV member and advertiser:

https://www.talkofthevillages.com/forums/home-inspections-245/dangelo-inspections-62606/

Bill :)

[CarolSells]

BettyCrocked,

I am not licensed in Florida but in Georgia the standard due diligence period is ten days during which time you have the right to cancel the deal for any reason. Having the inspection within that time frame obviously gives you time to do your inspections and renegotiate for any repairs, etc.

Did you write the purchase contract on your TV house with a contingency based on your securing a mortgage on your Alabama house? Maybe your Realtor can add an amendment to that effect. If you do not inspect, negotiate, terminate, etc. within the ten days you will be obligated to close on the TV house regardless.

You are correct in that the inspector works in your best interest and should be someone you select. Have your Realtor give you three or four names to choose from as someone else suggested. Good luck.

[gustavo]

We are putting a mortgage on our house here in alabama to buy a home down there. The mortgage is going to take 2-3 weeks but we are being rushed into having a home inspection by an inspector suggested by the villages realtor. Why would they put in the contract that we have to get the inspection within 10 days when they know we won't have our mortgage secured by then? If something falls through on the mortgage, I obviously don't want to pay for an inspection on a home I'm not buying. I also don't know if I should trust an inspector that was lined up by the villages realtor.
Any words of wisdom for me?


Why did you sign the contact as it was written? You should have revised and or deleted the home inspection clause.

[capecodkev]

Where I live, its illegal for a realtor to suggest a home inspector. I would hire my own and get an honest inspection that way.

[justjim]

If you can't trust YOUR Realtor in a real estate transaction, who can you trust?

[Indydealmaker]

If you can't trust YOUR Realtor in a real estate transaction, who can you trust?

If it is a Villages real estate agent, then that agent is not a "Realtor". Also unless you have a specific contract that says the agent represents your interests only, then that agent represents the seller. Also, in this day and age that has seen an absolute erosion of ethics, you should never enter into a real estate transaction without legal representation.

[CarolSells]

If it is a Villages real estate agent, then that agent is not a "Realtor". Also unless you have a specific contract that says the agent represents your interests only, then that agent represents the seller. Also, in this day and age that has seen an absolute erosion of ethics, you should never enter into a real estate transaction without legal representation.

Let's don't scare everyone! This may be true of Villages salespersons but not necessarily so if you have an outside MLS agent. Unless the listing agent of a property is showing you a house then they would be representing you as a buyer. a) Most brokerages don't allow dual agency and b) Yes, buyers should sign a Buyer's Brokerage Agreement with their agent and his/her broker.

Lack of ethics? Ouch!

[Cantwaittoarrive]

We are putting a mortgage on our house here in alabama to buy a home down there. The mortgage is going to take 2-3 weeks but we are being rushed into having a home inspection by an inspector suggested by the villages realtor. Why would they put in the contract that we have to get the inspection within 10 days when they know we won't have our mortgage secured by then? If something falls through on the mortgage, I obviously don't want to pay for an inspection on a home I'm not buying. I also don't know if I should trust an inspector that was lined up by the villages realtor.
Any words of wisdom for me?

Contracts for pre-owned homes are negotiable. If you haven't signed the contract negotiate a different timeframe. If you have signed then you are most likely stuck with the timeframe you agreed to, shame on you for not reading the contract before signing

[Cantwaittoarrive]

If you can't trust YOUR Realtor in a real estate transaction, who can you trust?

I only trust myself in any transaction. After all no realtor can read your mind, if you don't communicate what you want. It's up to each person in a transaction to read the contract fully before signing

[gomoho]

Let's don't scare everyone! This may be true of Villages salespersons but not necessarily so if you have an outside MLS agent. Unless the listing agent of a property is showing you a house then they would be representing you as a buyer. a) Most brokerages don't allow dual agency and b) Yes, buyers should sign a Buyer's Brokerage Agreement with their agent and his/her broker.

Lack of ethics? Ouch!

Dual agency is not legal in Florida - buyer's agents are not very common.
It is presumed that all licensees are operating as transaction brokers unless
a single agent or no brokerage relationship is established.

A transaction broker provides limited limited representation to a buyer, a seller, or both, but does not represent either party in a fiduciary capicity or as a single agent.

Coming from a state that has dual and buyer agency I found this very hard to wrap my brain around, but that's the way it is done in Florida. Really takes the pressure off sales agents since they aren't responsible to either party.

[2BNTV]

Dual agency is not legal in Florida - buyer's agents are not very common.
It is presumed that all licensees are operating as transaction brokers unless
a single agent or no brokerage relationship is established.

A transaction broker provides limited limited representation to a buyer, a seller, or both, but does not represent either party in a fiduciary capicity or as a single agent.

Coming from a state that has dual and buyer agency I found this very hard to wrap my brain around, but that's the way it is done in Florida. Really takes the pressure off sales agents since they aren't responsible to either party.

If I understand your post on a pre-owned home:

A VLS agent represents the seller?

A MLS agent represents the buyer?

[gomoho]

No that is not correct - all transactions either VLS or MLS are handled as transaction brokers unless a specific agency relationship is established in writing; however I believe VLS agents are not able to be buyer's agents and you would probably be hard pressed to find an MLS agent that would be a buyer's agent either. Don't know why it works this way - I preferred being a buyer's agent in North Carolina because I was in a fiduciary relationship that allowed me to share everything with my buyer that would be to his advantage when purchasing. But, you can't fight city hall!

[2BNTV]

No that is not correct - all transactions either VLS or MLS are handled as transaction brokers unless a specific agency relationship is established in writing; however I believe VLS agents are not able to be buyer's agents and you would probably be hard pressed to find an MLS agent that would be a buyer's agent either. Don't know why it works this way - I preferred being a buyer's agent in North Carolina because I was in a fiduciary relationship that allowed me to share everything with my buyer that would be to his advantage when purchasing. But, you can't fight city hall!

Thanks for the clarification. :smiley:

[BettyCrocked]

Thanks for all the help. I tried going with Comer, but they are booked solid for 2 weeks. So I went with Harwood. Everything is under control.!

[Steve & Deanna]

We purchaed a 'pre-owned' through The Villages although our home back north had nothing to do with our purchase down here. Our Villages realtor gave us three or four home inspectors to choose from as well as a termite/pest inspectors. We used Lake Sumter Home Inspections located in Lady Lake (phone/fax 352 259 0037). They seemed quite thorough and informative as well as helpful as to what we should have done prior to closing. We also used Integrity Termite Inspections in Inverness (phone 352 344 3370). Our Villages rep did NOT choose one however the choice he gave us was that they were all good and trustworthy as we were previosly renters and newbie owners. Also, we wanted a stand alone deal whereas our northern home would have nothing to do with our home down here financially; much like golf cart insurance, I'd never tie that into our personal auto or homeonwers insurance. Good luck with your purchase, hope this helps and welcome to your bit of heaven. Lovin' The Villages lifestyle as they say.