[manaboutown]

Has anybody noticed any flipping going on in your neighborhood, speculators buying houses only to sell them for a higher price within a short period of time?

[KathieI]

Originally Posted by manaboutown

Has anybody noticed any flipping going on in your neighborhood, speculators buying houses only to sell them for a higher price within a short period of time?

Don't know if they are "flipping" per se, but I have noticed a lot of new homes being sold before the contracted year was up? I thought this wasn't allowed in TV??? Please correct me if I'm wrong.

[gomoho]

You can sell before a year has passed, but I believe you pay some kind of penalty.

[KathieI]

Originally Posted by gomoho

You can sell before a year has passed, but I believe you pay some kind of penalty.

Ohhh thank you. I thought it was totally forbidden...

[graciegirl]

Originally Posted by KathieI

Ohhh thank you. I thought it was totally forbidden...

You cannot make money on a home sale for a new home if you sell it in less than a year. Selling fees are allowed to be added.


It is somewhere in something that we signed.

[gomsiepop]

You can sell within one year without a penalty if you buy another home from The Villages. Otherwise, if any profits are received, that amount is returned to The Villages (that's what I was told from a Village Realtor).

[justjim]

Most of the resales are after a year of ownership. If not, there is usually a health reason or some other reason. I don't know if TV is enforcing the one year rule in the contract. Does anybody know?

After a year you can sell for whatever someone is willing to pay. That's marketing and the American way. I don't have a problem with someone smart enough to make money.

The problem today, as I see it, too many people want somebody (usually the government) to take care of them and they think they are "entitled".

[tippyclubb]

I don't know if TV is enforcing the one year rule in the contract. Does anybody know?
------------------------

When we bought in September we had to sign papers we would not sell the first year. If we did sell before the year all profit would go back to the developer.

[indianavette]

We just closed this week and had to sign an agreement stating that any profit would go back to TV within the first year. Therefore, I assume they are enforcing it.

[jimbo2012]

there are deductions from the profits for improvements, bond payments and broker fees etc.

A good lawyer can help find ways....................

[keithwand]

2 neighbors did sell theirs on an interior lot to build on the golf course right across the street and get extra square footage. Really not flipping. Both said it was enforced but any improvements can also be deducted. They made money on their resales.

1 neighbor also on an interior lot got a call from his realtor that he could sell his house for a $150k profit after his first year here so he listed it and got about 175k profit before closing costs. They decided to go back to their other home in MI. That will be a shock when they arrive tomorrow and it's minus something degrees!

[manaboutown]

I am aware of the rule about new home purchases from the developer. It is a good rule.

Has anyone noticed speculators flipping homes in existing neighborhoods?

[mickey100]

Our neighbor just sold his after less than 2 years. I don't know the final number exactly, but looks like he cleared 20% - 25% profit.

[TNLAKEPANDA]

The way to get around that is to sell furnished but I doubt many people are actually flipping houses in here because the homes are rather expensive.

[soldjudy]

Yes-we live in Pennecamp and neighbors sold a house on our street in July and new people had it for less than 3 months and sold it for 20,000 more than they paid and now the new owners filled it up with used furniture and it is a rental. Now a bad profit for a few months but they did have to pay realtor fees but still??????