Originally Posted by kingofbeer (Post 2142924)

Reading The Villages sales contract, I see Settlement Service as 5% of purchase price. This seems way out of range. Normally you pay a reasonable fee for closing (less than $500) because the they make money on the title insurance they sell. Contract says you are NOT required to use the listed provider. I have contacted the title company that handled the closing on my last house and am waiting to hear back from them. Am I required to use Properties of the Villages, Inc for closing?

Originally Posted by Stu from NYC (Post 2142953)

Does that mean settlement company did not charge you anything?

Originally Posted by kingofbeer (Post 2142957)

Have not closed yet.They do charge a closing fee. Which is standard practice.

Originally Posted by kingofbeer (Post 2142924)

Should I use Peninsula Land & Title for closing or pick my own?

Originally Posted by Villages Kahuna (Post 2143126)

I believe you’ll find that Peninsular Land & Title is owned by the Developer. They’re integrated into the closing process, making it ‘one stop shopping’ to close on a new house. You have the right to choose your own title company for closing, but you’ll likely make the process more time-consuming and expensive.

Remember the well-proven phrase regarding the closing process… If it ain’t broke, don’t fix it.

Originally Posted by retiredguy123 (Post 2142959)

I bought a new house from The Villages and paid cash. They didn't charge me any fees. The only thing I paid at the closing were the prorated property taxes and amenity fees that I would have had to pay anyway if they hadn't already paid them in advance. But, The Villages didn't charge me anything to handle the settlement or deed preparation or transfer.

Originally Posted by kingofbeer (Post 2142924)

Should I use Peninsula Land & Title for closing or pick my own?