I would recommend professional help. cash or not at all closings people get paid. It is in a sellers best interest and buyers best interest to have professional knowledgeable help. I could tell you many stories of unclean title because someone wanted to save a few dollars and thought they knew everything.

Usually it’s the Seller who has to provide and pay for a title insurance policy. The Seller has to provide proof of clear title to the Buyer.

All media companies (broadcast, print, billboards, etc.), provide marketing and statistical information to potential advertisers so that the advertiser can learn if their target audience is reachable. In The Villages, more than half the homes are paid in full at closing.

The primary reason is that, for the most part, buyers plan on being permanent residents rather than snowbirds or renting out their home. They have lived in their Northern homes for 30 or 40 years, have seen them increase in value and equity, have paid off the mortgage and do not have to pay tax on the profit if it is less than half a million dollars (married couple). They can buy for cash and have plenty left over for moving expenses, refurnishing and living expenses. By the way, although most residents are on fixed income, The Villages has a high average income per household.

Seller was extremely motivated
 

When I bought seller was extremely motivated to sell, I wanted to buy so I made him an all cash offer closing in 20 days that was 17% under asking, they accepted, but the title company could not do it so we closed 26 days after it, by all means get title search and title insurance, not that expensive and all worth it. Good luck and welcome to paradise!!!!!!!!

Might go without saying, but an inspection is key. Be sure a thorough title search is done. And do not skip title insurance too hastily. A title can be clear at closing and then someone can come later with a valid claim, unpaid vendors for example. Less important but still an issue to inderstand, read the deed restrictons carefully. They vary by district and one set may not appeal to you as much as another.

That's a good point. I noticed many here have discounted the notion that a cash offer isn't any big deal. Maybe not in TV, but I've bought and sold 8 homes in my life, and I bet my first offer on half of them had a contingency upon one or the other, selling their existing home, or getting loan approval. When someone walks in with a cash offer, it's the saying money talks and something else walks.

If you buy from a realtor or a Villages agent they will work through a title company. If you buy for sale buy owner you should do the same. Do not try to write the contract yourself or do the searches. As a buyer you have little expense for buying with cash. Most expenses are paid by seller as a standard here. It can be part of the negotiation. If you are looking for buyer representation on every listing I would be happy to represent you. The sellers agent pays me. I also work with sale by owners most welcome mls agents. Andrea Bonivich, Sellstate Superior Realty 281-513-1250. I live in the Villages and 25 years of experience.

Ohiobuckeye
 

Well I bought in TV & if you pay cash I can tell you, just because you pay cash don’t think any of TV realtors will discount the home because you pay cash, they won’t. If I would buy in TV again I would buy from an outside realtor or buy from owner, you might get it a little cheaper. But TV realtors will under cut a pre owned home of the same model. But you’ll have to weigh out that for yourself. I only say that because you’ll get a hundred opinions from this subject!

Community Standards in TV is a joke. Last time I was there they told me that 95% of the homes in TV are not in compliance. The only way they react is through a complaint. This breeds discord, confusion, and others who just don't care. Also many (at least South of 466A) are not aware that when you purchase a home you really do not own the property 13.5 ft. from the street. There is a County easement for those 13.5 ft. and the County can come in at any point and have you remove anything in the easement if they wanted. Within two miles of my home in North Labelle I drove around and counted over 100 homes not in compliance. There is a home on Moyer Loop that has installed huge rocks with bushes within 3 ft. of the street. There is another who has installed curbing and flowers up against the street curbing on a corner lot. It does not bother me and I have never complained but it is amazing what home owners are not aware of when they purchase a home. Just be aware all it takes is one complaint.

All good thoughts, but a few not right. As a Buyer you allow the Seller to choose Title Company and with that the Seller pays for Title insurance and a lot of the Recording/Tax. This way you are assured of a Clear Title and also have the Title Company there if something comes up later. You do pay for the Title Company , around $400-$500, but money well spent to have clear Title and someone handling all the closing paperwork.

Also a MLS Realtor can often help with a FSBO to make sure you are getting the best deal and many FSBO Sellers are willing to pay a commission to a Realtor bringing a solid Buyer.

I would be happy to help you find your next home or at least be a resource for any questions as I am a Multi-Million Dollar Producing MLS Realtor Selling in The Villages.

You can negotiate with a person. The Villages will not.

I believe that it's required to have title ins in FL. You will also have pro ration of taxes, amenities for the first month, & homeowners ins for a year. Give Johnathan Thompson a call @ 352-633-5195 with Freedom Title & tell him that Doreen referred you. Also, let me know if you want a realtor outside of The Villages that is fabulous, especially since she doesn't have to abide by certain regulations of The Villages. She will spend as much time with you as you need, answer all of your questions, & honor your decision without any pressure!

Buying owners title insurance is optional in Florida, and most other states.

we paid $$ on our new construction home. i'd do it again, too.

As a prior banker of 35 years, I strongly encourage you to spend the extra money to do the transaction right whether you buy a resale or a new home from the Villages. You need to protect your investment and eliminate any issues if you ever decide to sell. I just bought my second house in TV... first was a home I had built and financed with a mortgage and the second a resale I paid for with cash. For BOTH transactions, I used a real estate attorney, got an appraisal, an updated survey and title insurance. In addition, on the resale, a home inspection. Trust me, all of these are important. The only one you could check fees on would be to use a title company or an actual real estate attorney. For me, the price difference was so minimal, I went with my own real estate attorney. The Villages use one, why should I not have my own to represent me?

I bought a house in TV, last year. Since you will (as advised by other people) be passing money through a title company’s ESCRO account, they will need to be assured that your money is not the product of money laundering. That means you need to be able to demonstrate where the money came from.

You don’t need to buy a policy but the seller does need to buy one .

All title policies are not the same as title companies put many exclusions of what the policy will cover in their "off the shelf" policies. A good real estate attorney can negotiate with the title company to get you a more comprehensive policy.

I think you may be confusing a title insurance policy with the title company's fees to search the title and to prepare the deed to ensure that a free and clear title is conveyed to the buyer at the closing. An owners title insurance policy will protect the buyer from future claims made against the title. The policy is purchased at closing and protects the buyer for as long as he/she owns the property. But, the owners title insurance policy is entirely optional. In The Villages, the buyer usually pays for the title insurance, but, again, it is optional. Some buyers decline to buy the insurance, especially when they are buying a new house.

Trolls
 

Why are people who want the rules followed and that we all signed on for insulted for wanting the rules followed and no I’m not one of those people but I thank them for trying to keep the community standards WE ALL SIGNED UP FOR

Cash buyer
 

I agree cash buyers the worst especially if they’ve been reading those how to get rich in real estate books they think they can low ball you or ask for all kinds if f things . I’ve sold many homes bank mortgage cash whatever but the bottom line is my price my way

Home inspection & local real estate lawyer a must

There are advantages to seller when a buyer does it all cash. Much faster closing for example

Yup, that is my plan as very fast closing and I really don't want to pay all that enormous interest with a mortgage when I have the cash just sitting there. Hoping to find a turn-key with no one living there. I'm not trying to low ball the seller, although I do believe the courtyard bungalow villas are WAY OVERPriced. Not sure why, I guess supply and demand.

Don’t you have huge amount of money at risk when you get mortgage? Most people are responsible for loan?

There all over priced IMO, but you paying for the lifestyle.

Tv property
 

If you go through the villages properties all that should be done. Old vs new....a huge $35,000.0 bond on new. Pre owned bond may be paid off. New raw landscaping pre (i will use my home here) landscaping if flush and mature. Landscape walls, water fountain/waterfall. Hickory floor in hallways lr and dr. Hard wood im three bedrooms. Lanai has been extended by 20 ft. Screen on garage steel/ screen entry way. And on and on
You have to weigh this. Hickory floor was $7,000.00+/-

Right, but the lender will likely require inspection, title insurance, etc. If you really want to save money, try to avoid the commission by using an attorney to do the closing instead. They typically charge a set fee that is much less than the commission toa realtor.

Thank you for all the posts. I have been lurking but considering my options. I plan to go with a 15 year fixed rate mortgage loan as they can be had @2.5%. I really feel I can obtain more than that on investments. The house will of course appreciate over time.

Buying a pre-owned home versus new does have it's advantages.
I have a home that I'm looking to sell.
Better than new, plus no bond, in a desirable neighborhood with wonderful neighbors.
If you are interested, message me back and we can set up a time to talk and discuss further.
Thanks

Would like to contact you, in regards to your posting. PM me, Linda Arnold Carlson

Cash is king. Great rate on 15 year loan.

Would be helpful to supply some details of your home. If nothing else you would attract buyers with more interest.

Developer does not own any property that doesn't have a clean title

You are correct. The buyer has to decide for themselves what your improvements are worth to them.

In many cases, the improvements are worthless because a buyer may not like them.

Advice is all over the map here. At a minimum you will want a home inspection, title insurance and a lawyer at closing.

I would get Title Insurance on a pre-owned home for sure but not on a new one from the Villages.

Let me update you all since I started this post. I came up (from South Florida) on June 6, on Day 3 of a 2 week stay, I found my house (believe me I looked at tons, mostly just open houses so I didn't have to really deal with realtors. Anyway, it wasn't the model or the type or even location that I thought I wanted to live but I loved the neighborhood, and loved the house. It was a preowned TV properties, I did get a steal. Its in Pine Hills and is a designer built in 2017. The previous owner also paid cash and are you ready...........paid off the bond!!!! It was really only lived in about 10 months over the three years and never rented. It looks brand new and the owner replaced the carpet with hard wood (which was always on my checklist) I think in November. It was priced to sell quick and i did offer him under which he accepted.

I then had to deal with Pinninsula Title. ugh. They couldn't do it as quick as I wanted because they are so backed up. I was told they sold 200 homes last month "during Covid". I Gathered my cash together and could tell it was easiest if I just opened an account with Citizens and put the money there, so they could just transfer it between accounts in their own bank. TV Properties, Citizens, Pinninsula all are in bed together. I knew I was in a bubble, but it really shows when you are buying a house here.

The offer was conducted via electronic docs and so was the closing. Well lets just say I pre-signed the closing documents today, the seller will tomorrow and I'll move in Saturday. No one can tell me a cash deal doesn't go more quickly or smoothly.

Pinninsula supposedly is not doing any face to face closings.

Oh the best part, Saturday I walked into the Villages Golf Carts and bought a new 2020 ride. Free financing for three years, so I didn't pay cash. :1rotfl:

Now I feel like a Villager and so happy to be here.