[KateNelson]

How long will The Villages hold a property deposit? Our house is for sale and we want to buy a lot in The Villages now but, we don't want to lose our money (deposit) if we our house doesn't sell. Can you pay the full lot price to make sure you don't lose your money or the lot you want?

[maddie101]

You must build within a certain amount of time. It is not indefinite. I don't recall exactly, but I think it was two months. They don't want empty lots. That it why they don't open a new village until one sells out. You would lose your lot, but not your deposit if your design appt is scheduled and you are not ready to build. If they close out the final phase before you are ready, you would probably lose your deposit. Call christy Truluck if you don't have a sales agent and she can be more specific

[Phanatic Luvr]

When we purchased in 2011, the deposit they required to hold a lot was $7,500. At that time, you needed to start your build within one year. Since then, I believe you need to start your build in 6 (possibly 3)months and if you are on a prime lot, as in a golf course lot, its either immediately or possibly 3 months.
Once you go to your design meeting, and this is prior to your build obviously, you need to come up with another larger deposit. If I remember correctly, it was 20% of the cost of the home and lot, minus the $7,500.
Not sure if that is still the same as in 2011.
You should call the sales office to find out.
Or ... maybe someone who is going through the building process now can let us all know.

[asianthree]

call your rep i am sure its in print on your paperwork

[anarick]

It was one year but I heard that it is now six months.

[graciegirl]

We went out to dinner with folks who came down here some time ago...three years or so and put a deposit on a lot and were unable to build because they couldn't sell their home. They let the lot go and they thought they let the deposit go.

Their home recently sold and they came down to look for another place to buy here thinking that their original deposit was forfeited. They put a deposit on another place and their rep told them they had a check for $7500 from TV.

Sounds pretty fair to me. They were delighted.

.

[Microcodeboy]

It seems that they make you sign documents that sound like they are tough on things and then they play real fair. The previous message confirms that...

We can't wait...

[mulligan]

Thought this was ask the expert ??

[graciegirl]

Originally Posted by mulligan

Thought this was ask the expert ??

oh dear. I am so sorry.

[KateNelson]

Thanks for everyone's input. I'll get in touch with TV. I pray my house sells!