Buying a Discounted new house in TV

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Old 02-05-2015, 02:02 PM
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Default Buying a Discounted new house in TV

I have no idea why they closed this topic, but I started a new thread of the same name so I could comment. The original post was:

I made an offer on a new home in December. We were in TV from Saturday until Tuesday - we put a house on "3 hour hold". We were going to look in Ft Myers and Naples after that so we wanted to compare. That realtor kept redoing the 3 hour hold for 3 days every time it expired. Someone else made an offer on Friday and we had 2 hours to decide. We chose TV and made the offer. The next day, They emailed me a scanned contract.

Now let me say, I am Director of Purchasing for a large corporation, So I do contracts all the time. However, I also had my fiance who is a Nurse read it. The contract was VERY clear and straightforward, even my Fiance thought so. It laid out all the details of the downpayment and the closing, etc. After I signed and returned that, there was another document sent that had more information. I knew everything before I sent them a dime. Then I mailed the downpayment.

I tried to go through the villages bank, but their fees are outrageous so I used a broker and ended up with Quicken loans. Because this was over the holidays things dragged a bit. My closing was scheduled for Jan 8, and Quicken did not get the documents in until late the day of the 7th. The villages turned it all around So I had my docs on the 8th, I did a remote closing with a notary in Wisconsin and sent them back overnight, so officially the closing was on the 9th. When we were waiting on the docs from Quicken, my closer said a few days late for closing due to the mortgage would not have been a big deal.

The closing package was about 75% mortgage documents that have nothing to do with the villages. Then a lot of the rest were informational like how the water and sewer are billed, the names on your membership cards, etc.

I have closed on about 10 properties in my time, and except for Quicken loans, the closing was the easiest ever. Fast, efficient, well organized, and they were very responsive. Quicken loans saved me about $4000 on the closing, so the trouble was worth it.

I guess my bottom line is the following: the documents are easy to understand, there should have been no problem if you read them. They are clear.

Several people commented on a lawyer. Here is my 2 cents - if you are paying cash, get a lawyer. If you have a Mortgage, the mortgage company handles the legal just fine - they don't want the property having any problems. My corporate counsel used to do property law, and she agreed about that (she was the notary for my closing). However, the only things that count are the ones on PAPER. Verbal statements won't hold up if there are problems - so get everything in writing.

The most interesting thing is that I had to ASK about the fact I am only 51, they really did not seem to care.... that surprised me. I think the main thing they are interested in is the color of your money
Old 02-05-2015, 03:35 PM
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I don't understand why the thread was closed on the same subject.

I had no idea that certain states had recision rights in Florida. I was learning something new.

I am wondering if this forum has changed hands.
It is better to laugh than to cry.
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