Buying a Discounted new house in TV

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  #1  
Old 02-02-2015, 10:44 AM
Modigliani Modigliani is offline
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Default Buying a Discounted new house in TV

If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.
  #2  
Old 02-02-2015, 11:04 AM
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Quote:
Originally Posted by Modigliani View Post
If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.
Are you saying if you knew what you know now you would not have signed?
Or do you have buyers remorse and now understand what it takes or not to get out of a home buyers contract?

For me for example, when it comes to real estate....and because there are no two states laws alike....I use an attorney and always ask the magic question....is there any reason I SHOULD NOT sign these papers?
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  #3  
Old 02-02-2015, 11:32 AM
dadspet dadspet is offline
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you clearly need to understand what you are getting into when you indicate you want to buy a village house. Once you say yes to a house the process goes from laid back to high gear and you will be committed to everything you sign. I'm saying this only so you don't under estimate what will happen once you say yes to a house and once you sign what the villages position will be. We bought 2 houses and didn't have any issues but were surprised by how fast the villages wanted papers signed, down payments and how little flexibility there was in closing (which was quick when we bought). We regret nothing and love it here.
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Old 02-02-2015, 11:40 AM
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Quote:
Originally Posted by Modigliani View Post
If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.

We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.

Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.

Sounds as if your REA did not give full disclosure, or you were asleep at the contract signing.
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Old 02-02-2015, 11:42 AM
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I would think that most of us would know by now that signing a real estate contract is a binding agreement.
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  #6  
Old 02-02-2015, 11:49 AM
NotGolfer NotGolfer is offline
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When we were VERY young and in the process of looking for our 1st house to buy, we had an agent who (in looking back now) seemed bent on us signing a contract. I remember the house...I didn't really like it and didn't understand (quite) what "making an offer" meant. I think the guy used some words that were blurred in content. Anyway, I did have to presence of mind to ask questions AND was told that the contract would be binding. WHEW!!! So glad I asked those questions as in the end, we didn't work with that agent again and our first house was just what we needed and were looking for.

When we purchased here everything was explained pretty clearly but we still asked questions too. The process went quickly (which we appreciated) and smoothly as well. We've never regretted anything in the 6 years since.
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Old 02-02-2015, 11:50 AM
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All the more reason for full disclosure not a rush job
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Old 02-02-2015, 12:17 PM
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Quote:
Originally Posted by RickeyD View Post
Sounds as if your REA did not give full disclosure, or you were asleep at the contract signing.
an REA is a salesperson...if you count on them and not a lawyer the fault, unfortunately, is yours...
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  #9  
Old 02-02-2015, 12:22 PM
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can you be a little more specific as to the issue you ran into. Not asking for any privacy info, just an idea of what was not as apparent as you would have liked.
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Old 02-02-2015, 12:25 PM
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Quote:
Originally Posted by Modigliani View Post
If you are buying a discounted new house in The Villages you need to be very careful when signing documents that you understand and read every word before signing anything; even if it means an hour of quiet time in their office to get through multiple pages of small print. You should also be aware that there is no law in Florida that permits you to withdraw a signed document after a cooling off period.
We have found ourselves in a situation that has not been resolved (and could be resolved without any cost to TV) because we did not read the fine print and weren't properly advised of the financial implications and certain restrictions in the documents.
Read and understand ANYTHING you sign and you won't find yourself in the stressful situation that we now find ourselves in. What should have been a joyful experience has turned out otherwise.
If you are from certain states (we are from NY) there is a right of recision. The first home we went into contract on we had 7 days to rescind and decided this was not the house for us. Your real estate agent should know which states have this clause.
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  #11  
Old 02-02-2015, 12:28 PM
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Compos Mentis
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Old 02-02-2015, 12:33 PM
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Compos Mentis
of sound mind???
  #13  
Old 02-02-2015, 12:40 PM
Modigliani Modigliani is offline
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I would have put off signing until the house I now own in TV had been sold.
  #14  
Old 02-02-2015, 12:43 PM
Modigliani Modigliani is offline
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We are Snowbirds from Canada so our rescinding periods would not apply in the US.
  #15  
Old 02-02-2015, 12:51 PM
Modigliani Modigliani is offline
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Let's just say we were mis-informed, mis-led or whatever you want to call it which amounts to not divulging critical information to us. Part of the problem being we wanted to sell the house we now own in TV before purchasing a new house in TV.
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