Hardship during 1 year no sale period

[FLUFFY]

Can anyone tell me who to contact when you have a hardship during the one year no sale period? Has anyone ever sold during the first year? I would like to find out how it was handled.

[skyc6]

Can anyone tell me who to contact when you have a hardship during the one year no sale period? Has anyone ever sold during the first year? I would like to find out how it was handled.

What about contacting tour realtor? I think you can sell, but just not make a profit. Upgrades you have made with documentation can be claimed, I think.

[Flyinglady]

What about contacting tour realtor? I think you can sell, but just not make a profit. Upgrades you have made with documentation can be claimed, I think.

That's how it was explained to us when we signed for our house. Pop in to the sales office or call them I'm sure someone will be able to help you.

[justjim]

Obviously, if you don't plan to try and make a profit on your house you have no problem with the Developer. This clause (I understand) was put into the contract to keep investors from "flipping" new houses in TV.

The clause does not keep you from selling your home the first year because of a hardship.

[graciegirl]

It certainly does not keep you from selling your home. We had an absolutely heartbreaking thing happen to one of our neighbors. We had met this lovely couple at our village Christmas Party and they were very excited about building a new home in our village and moving here from out west. Their house was completed and they arrived on Monday with their furniture and he died of a heart attack on Thursday.

She had just been diagnosed with Alzheimers and so their children came and put the house up for sale and it sold quickly.

It was listed for quite a bit more than it cost originally but that could have been the realtors percentage figured in.

You NEVER know. You never know. Today is the day to enjoy life to the fullest.

[Lynn222]

I just sold my patio villa in Buttonwood in 24 hours without a realtor.

[DianeM]

You CAN sell your house within the first year. You just cannot make a profit. You can claim any improvements you made and you will get that money back. You can put it out there at a higher price than purchase to cover the commission and closing costs. In addition, hardship has nothing to do with selling the house. If you want to sell it, for whatever reason, you can.

[LndLocked]

Exactly who is it that monitors the amount of time from purchase to resell??

Why is it a wonderful thing for "The Developer" to build one in a matter of months and not ok for someone to buy, up grade and resell in a matter of months?

[CFrance]

No one said it was wonderful thing. As posted before, the idea is to keep house flippers away. Developer's land, developer's rules. I think this rule is a good one!

[senior citizen]

Can anyone tell me who to contact when you have a hardship during the one year no sale period? Has anyone ever sold during the first year? I would like to find out how it was handled.


First and foremost, best of luck to you in your predicament.
What exactly is this "one year no sale period"..????????????
I've never heard nor read of it. I think it's something we should know.

We bought a sold a condo on the Gulf Coast of Florida very quickly.

Bought it after moving down at Christmas time (no room at the inn time with all the snowbirds; not much to rent while searching for our residence)
The year was 1994....end of year.

Remodeled it top to bottom. Moved in during the month of February.
Decided to sell it; moved back to Vermont April 1st due to my mom's diagnosis of Alzheimers (to get her back to her support system and mine).

So, January to end of March? Believe me, that condo on the beach had stringent rules.......but they never prohibited us from selling it.

I'd like to know the details before we buy in THE VILLAGES.

Thank you in advance........

[LndLocked]

No one said it was wonderful thing. As posted before, the idea is to keep house flippers away. Developer's land, developer's rules. I think this rule is a good one!

Why??

[CFrance]

SC, the details are exactly what the above posters have said. They've covered it all.

[bike42]

What exactly is this "one year no sale period"..????????????
I've never heard nor read of it. I think it's something we should know.
. . . I'd like to know the details before we buy in THE VILLAGES.


It's clearly stated in the deed restrictions on all new homes and most of the older ones. To read the deed restrictions on any neighborhood you are looking in, go to the district.gov website Village Community Development Districts (http://www.districtgov.org/index.aspx) and use the "How Do I? " section.

[graciegirl]

First and foremost, best of luck to you in your predicament.
What exactly is this "one year no sale period"..????????????
I've never heard nor read of it. I think it's something we should know.

We bought a sold a condo on the Gulf Coast of Florida very quickly.

Bought it after moving down at Christmas time (no room at the inn time with all the snowbirds; not much to rent while searching for our residence)
The year was 1994....end of year.

Remodeled it top to bottom. Moved in during the month of February.
Decided to sell it; moved back to Vermont April 1st due to my mom's diagnosis of Alzheimers (to get her back to her support system and mine).

So, January to end of March? Believe me, that condo on the beach had stringent rules.......but they never prohibited us from selling it.

I'd like to know the details before we buy in THE VILLAGES.

Thank you in advance........

I think it is just new homes and it is to keep people from coming in and buying a home and reselling it right away for a big profit, i.e. "flipping". There is someone who has done this with more than three anyway, Premier Homes.. Not sold them immediately, but buys a NEW Premier, furnishes it with nice stuff including a baby picture on the wall to die for, and then putting them up for sale one year to the date for a very handsome profit. I know this because when we were looking for our year 'round home when we were in our snowbird home in Hadley, we went to a lot of fairly new resale Premiers and the furnishings rang a bell and the villages rep told us that is what what being done when I questioned.

[CFrance]

It is ONLY on NEW HOMES and it is to keep people from coming in and buying a home and reselling it right away for a big profit, i.e. "flipping". There is someone who has done this with more than three anyway, Premier Homes.. Not sold them immediately, but buys a NEW Premier, furnishes it with nice stuff including a baby picture on the wall to die for, and then putting them up for sale one year to the date for a very handsome profit. I know this because when we were looking for our year 'round home when we were in our snowbird home in Hadley, we went to a lot of fairly new resale Premiers and the furnishings rang a bell and the villages rep told us that is what what being done when I questioned.

I know neighbors who bought a new home in Mission Hills to rent and wanted to buy two new ones and they were told that they could only buy one new home in a certain period. It is obvious to me that this place represents a huge opportunity for off site landlords to buy a bunch of homes and rent them out for a business, for some reason, I don't like that a whole lot. I wish this whole place was owned by people who lived here and maybe could buy two or three homes, but I just hate the concept of off site landlords who don't CARE about this place like we do.

:agree: This is a community, not a resort.

[LndLocked]

What does people wanting to have multiple rental property's have to do with the concept of "flipping" ??

Again, why do you object to someone using the free enterprise system of buying a property, improving it and reselling for profit?

[CFrance]

What does people wanting to have multiple rental property's have to do with the concept of "flipping" ??

Again, why do you object to someone using the free enterprise system of buying a property, improving it and reselling for profit?

What Gracie said. It artificially drives up the price of housing and being able to buy multiple homes at once contributes to absentee landlordism. Besides, every community has rules, and this happens to be our rule, which the developer has every right to impose. If you want to flip houses, go to the Keys.

[LndLocked]

What Gracie said. It artificially drives up the price of housing and being able to buy multiple homes at once contributes to absentee landlordism. Besides, every community has rules, and this happens to be our rule, which the developer has every right to impose. If you want to flip houses, go to the Keys.

So than it is ok for "The Developer" to get market value but not ok for someone else to do the same?

You are entitled to your opinion .... just does not seem very "free enterprise" and the American way of you.

[graciegirl]

So than it is ok for "The Developer" to get market value but not ok for someone else to do the same?

You are entitled to your opinion .... just does not seem very "free enterprise" and the American way of you.

Repeat after me five times.

The Developer can do no wrong.

[LndLocked]

Repeat after me five times.

The Developer can do no wrong.

Prob not

[senior citizen]

It's clearly stated in the deed restrictions on all new homes and most of the older ones. To read the deed restrictions on any neighborhood you are looking in, go to the district.gov website Village Community Development Districts (http://www.districtgov.org/index.aspx) and use the "How Do I? " section.


Thank you kindly........appreciate that. Good to know.

[Villageshooter]

Prob not

Just remember this you must drink the Kool-Aid people say it is our rule no it is not our rule? it is the morris (Misspelled on purpose) If there is any money to be made here they want themselves to make it not little drones like us. The free enterprise system only works here for the developer not us

[CFrance]

So than it is ok for "The Developer" to get market value but not ok for someone else to do the same?

You are entitled to your opinion .... just does not seem very "free enterprise" and the American way of you.

I guess so. It's his land, and I don't see a problem with the rule. In my opinion, allowing flipping would drive the price of housing up. So my feeling is that his rule benefits all who are buying a new house built by him on his land.

[mulligan]

I believe the restrictions should go a lot further. They should be modeled on some of the condominium restrictions that exist in this state. A home can be sold and deeded only to a real person (no trusts, partnerships, corporations, etc.). No rentals allowed for less than 90 days (eliminates most of those who would view our community as a resort). And it is my personal opinion that the first requirement for any kind of real estate ownership in the US of A should be citizenship (don't sell my country to China).

[rayschic]

So than it is ok for "The Developer" to get market value but not ok for someone else to do the same?

You are entitled to your opinion .... just does not seem very "free enterprise" and the American way of you.

There are many people that flip houses in The Villages. You can buy any resale, foreclosed, bank owned, etc. Fix it up and resell it and make a quick profit. You just can't buy a home down near Brownwood (currently)and sell it in less than one year for a profit. You would be selling in direct competition to the developer.
You can also own more than one home and rent it out. Many, many people have more than one home in The Villages.

[LndLocked]

I guess so. It's his land, and I don't see a problem with the rule. In my opinion, allowing flipping would drive the price of housing up. So my feeling is that his rule benefits all who are buying a new house built by him on his land.

Has the price of a house from The Developer remained the same or has it gone up in accordance with market value?

Once The Developer sold it .. it is no longer "his land"

[LndLocked]

I believe the restrictions should go a lot further. They should be modeled on some of the condominium restrictions that exist in this state. A home can be sold and deeded only to a real person (no trusts, partnerships, corporations, etc.). No rentals allowed for less than 90 days (eliminates most of those who would view our community as a resort). And it is my personal opinion that the first requirement for any kind of real estate ownership in the US of A should be citizenship (don't sell my country to China).

I was unaware that Tamarind Grove was a reservation and you are a Native American.

[LndLocked]

There are many people that flip houses in The Villages. You can buy any resale, foreclosed, bank owned, etc. Fix it up and resell it and make a quick profit. You just can't buy a home down near Brownwood (currently)and sell it in less than one year for a profit. You would be selling in direct competition to the developer.
You can also own more than one home and rent it out. Many, many people have more than one home in The Villages.

I am fully aware of all of that .... just been attempting to get some to justify their position on prohibiting the 1 year resell clause.

I would still like to know just who monitors this and how they enforce it?

[CFrance]

Has the price of a house from The Developer remained the same or has it gone up in accordance with market value?

Once The Developer sold it .. it is no longer "his land"

I believe it has.

And the land and house are still subject to the Developer's deed restrictions, which we agreed to at closing. If one doesn't like the restrictions, one can choose to buy elsewhere.

[mulligan]

What ?????

[LndLocked]

What ?????

"And it is my personal opinion that the first requirement for any kind of real estate ownership in the US of A should be citizenship"

[BobAllen1290]

It artificially drives up the price of housing...
Not to be confused with Morse Industries artificially ratcheting up the price of new homes south of 466-A on a monthly basis and attempting to fool buyers that they are building "the very last homes in TV" when they are getting ready to pounce on Fruitland Park and keep on building. P.T. Barnum would be so very proud.

[LndLocked]

I believe it has.

And the land and house are still subject to the Developer's deed restrictions, which we agreed to at closing. If one doesn't like the restrictions, one can choose to buy elsewhere.

Your kidding ... right?!? You think that the equivalent house to yours was the same price north of 466 or does not cost more south of 466A??

I was simply asking WHY you (and others by proxy) think this restriction is a good idea.

[justjim]

Repeat after me five times.

The Developer can do no wrong.

:coolsmiley: Spoken like a former teacher, no! I've lived with one for several moons.

Prices are going up fast enough without investors immediately "flipping" homes in TV. After a year, you can sell and keep the profit if there is one. :popcorn:

[justjim]

I believe the restrictions should go a lot further. They should be modeled on some of the condominium restrictions that exist in this state. A home can be sold and deeded only to a real person (no trusts, partnerships, corporations, etc.). No rentals allowed for less than 90 days (eliminates most of those who would view our community as a resort). And it is my personal opinion that the first requirement for any kind of real estate ownership in the US of A should be citizenship (don't sell my country to China).

You have some good points----especially the 90 day rental rule which :agree: I will have to think about your other points.

[Bosoxfan]

[B][SIZE=5]. It is obvious to me that this place represents a huge opportunity for off site landlords to buy a bunch of homes and rent them out for a business, for some reason, I don't like that a whole lot. I wish this whole place was owned by people who lived here and maybe could buy two or three homes, but I just hate the concept of off site landlords who don't CARE about this place like we do.
I agree Gracie!! I wish this place had stricter rules .Some really don't care & look at this as a business opportunity or a vacation destination. It kind of takes away from the hometown feeling ,:bigbow:

[CFrance]

Your kidding ... right?!? You think that the equivalent house to yours was the same price north of 466 or does not cost more south of 466A??

I was simply asking WHY you (and others by proxy) think this restriction is a good idea.

I'm confused by your statement. We never looked at a home north of 466. And yes the prices have gone up, but it was my understanding part of that had to do with "raising the rents' on new homes (which happens everywhere) and an increase in the cost of building supplies.

I've explained twice why I think it is a good idea and don't feel I need to repeat my opinion a third time.

I'm done. You can have the last word.

[FLUFFY]

THANK you all for your input! It was extremely helpful!