Talk of The Villages Florida

Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Advice: Buying a pre-owned house in TV with all cash (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/advice-buying-pre-owned-house-tv-all-cash-307204/)

charlieo1126@gmail.com 06-04-2020 11:32 AM

Cash buyer
 
Quote:

Originally Posted by Toymeister (Post 1776756)
Here is a seller's perspective:. I don't care if you pay cash. The home has a value of XXX and it doesn't matter to me if I get payment from a cash buyer or a bank. I generally consider a cash buyer more of a pain in the arse than a bank.

Now if I was in some sort of financial straights that might be different but it is statistically rare here.

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

JamesIrvin 06-04-2020 12:57 PM

Home inspection & local real estate lawyer a must

Stu from NYC 06-04-2020 01:11 PM

Quote:

Originally Posted by charlieo1126@gmail.com (Post 1777202)
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

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

trekker954 06-05-2020 07:51 AM

Quote:

Originally Posted by Stuart Zaikov (Post 1777258)
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.

Topspinmo 06-05-2020 12:50 PM

Quote:

Originally Posted by Finchs (Post 1776519)
If you really want to pay all cash, my advice would be to forget about saving a buck or two on title insurance, appraisals, inspections, etc. You will have a huge about of money at risk, so take every precaution to protect that money. I suggest you contact a local closing attorney and get them to guide you, pay them to work for you.

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

Topspinmo 06-05-2020 12:51 PM

Quote:

Originally Posted by trekker954 (Post 1777691)
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.

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

Curtisbwp 06-05-2020 12:56 PM

Tv property
 
Quote:

Originally Posted by trekker954 (Post 1776495)
I'm not sure TV is any different from other Florida cities, but what has you experience been if buying with cash. I own a home outright and keeping it in South Florida but plan a move to TV. I've been up there a number of times, and coming up Saturday for a couple of weeks to look at homes. I know Villages Properties, FSBO and MLS are all seperate.

If I do find my dream home, appraisal wouldn't be requires especially if I get a great deal. :) I assume I can research myself if there are any liens on the house, or is there a way to request the seller to produce a certificate? (Not sure about that). I think I can go to whatever county assessor and request a lien search. Or hire a title company to do a search.

I shouldn't need Title insurance Policy if I come up with a clear title correct?

So I should only have to pay for a Recording Fees.

Anything else I might need that is specific to TV purchase?

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+/-

theruizs 06-05-2020 04:57 PM

Quote:

Originally Posted by Topspinmo (Post 1777864)
Don’t you have huge amount of money at risk when you get mortgage? Most people are responsible for loan?

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.

Luv2Bretired 06-05-2020 07:08 PM

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.

lcarlson 06-10-2020 03:35 PM

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

lcarlson 06-12-2020 05:49 AM

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

Bay Kid 06-12-2020 07:06 AM

Cash is king. Great rate on 15 year loan.

Stu from NYC 06-12-2020 07:50 AM

Quote:

Originally Posted by lcarlson (Post 1781543)
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 be helpful to supply some details of your home. If nothing else you would attract buyers with more interest.

karostay 06-12-2020 08:09 AM

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

VApeople 06-12-2020 05:57 PM

Quote:

Originally Posted by Curtisbwp (Post 1777868)
You have to weigh this.

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.


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