The 2% Rule for figuring tax/bond/mntce

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  #16  
Old 03-18-2013, 02:00 PM
ilovetv ilovetv is offline
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There are lots of MLS realtors outside TV real estate sales who would like to see a gripe like this b****ed about by a few hundred people for a week or so.

I think most of us who have lived 5 or more decades know we don't have to sign papers containing figures we don't agree with.

We've always gotten an advance copy of our Settlement Statement accounting for every penny to be spent in a closing coming up for us.

Also, TV sales reps do not get involved in the financial amounts the Closing Dept. puts together for the closing. To my knowledge, if a rep gives a bond amount like "2% or so", that is good enough because it's a ballpark figure that is close enough.
  #17  
Old 03-18-2013, 02:01 PM
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Originally Posted by graciegirl View Post
This is the second thread stating that The Villages reps were giving out incorrect information . The first one alleged that the rep did not disclose that the only way to buy a new home was with a conventional loan or a complete cash payment..

Something is going wrong here, either that the reps are becoming careless, inept, or deceitful or something else.

I do think that if people are reporting that their reps are not up to par, they should tell Parr.
Nice to see we are finally able to acknowledge that there possibly might actually be a problem in Houston.....this is nothing new as many were never given any of this information.
Her name is Jennifer Morse Parr and her office is at Sumter Landing. Good Luck with that for it will take a lot more than just telling her!

Last edited by KeepingItReal; 03-18-2013 at 09:11 PM.
  #18  
Old 03-18-2013, 02:43 PM
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  #19  
Old 03-18-2013, 03:02 PM
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Why do folks on this thread keep acting like the Agent did anything wrong? Unless I'm missing something, 3 folks have responded saying they did the math, and all 3 have agreed the Agent gave precisely the correct answer.

Jerseylady, if you pay 3%, maybe you would like to share your numbers so we can see why you are apparently paying 50% more than the rest of us. I know these terms were confusing to me when I bought; is it possible you included your amenities fee in the calculation instead of your maintenance fee??
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Old 03-18-2013, 03:12 PM
janmcn janmcn is offline
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Originally Posted by Cantwaittoarrive View Post
Why not do what we did before we bought new, see what similar priced homes paid the year before in taxes, the bond and annual maintenance is easy to obtain, then you don't have any surprises
How is it possible to do this if you're one of the first people in a new neighborhood? Even if you could see other people's tax bills, the first year's property taxes are only on the land and therefore just a portion of the full amount.
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Old 03-18-2013, 03:27 PM
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The rule of thumb of 2% is a good percentage to "estimate" what the annual r/e taxes and annual bond payments will be. I can not imagine that the Rep included maintenance.
  #22  
Old 03-18-2013, 04:09 PM
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The rule of thumb of 2% is a good percentage to "estimate" what the annual r/e taxes and annual bond payments will be. I can not imagine that the Rep included maintenance.
The special assessment Maintenance is included ,,, it works for me
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  #23  
Old 03-18-2013, 09:14 PM
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Here you go JerseyLady, I am bringing this back up for you.

Last edited by Phanatic Luvr; 03-19-2013 at 06:52 AM.
  #24  
Old 03-18-2013, 10:17 PM
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I have bought two new homes in TV inthe last three years. In my case the 2% is in the ballpark. Only if amenity fees are added do I get to nearly 3%
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  #25  
Old 03-19-2013, 01:54 PM
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Quote:
Originally Posted by janmcn View Post
How is it possible to do this if you're one of the first people in a new neighborhood? Even if you could see other people's tax bills, the first year's property taxes are only on the land and therefore just a portion of the full amount.
Doesn't matter if you look at the same neighborhood only if you look at the same county and then a home that is valued in the same range as yours. You might not be able to calculate the exact tax but you sure can come close.
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