Can new homes be purchased subject to contingency to sell existing home?

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  #1  
Old 11-10-2007, 02:06 AM
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Default Can new homes be purchased subject to contingency to sell existing home?

Does the developer sell new homes if the buyer wants to make his purchase subject to selling his existing home?

If so, I'm sure there is a kick-out clause that gives you the right of first refusal by removing your contingency.

Has anyone used the Realtor referral service TV offer?* How has it worked out?
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  #2  
Old 11-10-2007, 03:33 AM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Not a chance of that in TV. As a matter of fact they will require a 20% non refundable deposit within 7 days of signing and usually want to close in 30 days.
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  #3  
Old 11-10-2007, 03:41 AM
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Default In Your Dreams

When even in a "down" real estate market they sell 248 homes in a month (September), the chance that TV will modify their ironclad sales policies are between zip and nil. Incentives like free furniture, paid closing costs or bond are as far as they go, and even then only on houses that have been unsold for awhile. Get used to a new way of life--beginning with the house-buying process.
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Old 11-10-2007, 02:13 PM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Kahuna --

Just curious ---- the #248 sales in TV for September: Are these new homes only or new + preowned? Are they sales by all realtors or just The Village realtors?

Thanks
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  #5  
Old 11-10-2007, 11:01 PM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Village sales staff may or may not be realtors. Many, many of them are simply sales staff. Unfortunately, sometimes they don't give you all the information you need to prepare to do a lot of questioning and insist on getting some information in writing before you agree to anything in writing.

When we bought, that very day we had to write a check for @2500 and four weeks later went to closing on a home/villa that wasn't even built when we put down our $2500. They WILL close in 3 days due to heavy penalties. Perchance you are not ready to close when they are, YOU will pay high penalties.

Caveat Emptor....let the buyer beware.

Don't get me wrong, I LOVE THE VILLAGES and wouldn't want to live anywhere else but you must be a smart buyer here more than any other place you have purchased a home in the past.

Good luck and God bless!
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  #6  
Old 11-11-2007, 02:39 AM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Quote:
Originally Posted by Frangyomory
...and four weeks later went to closing on a home/villa that wasn't even built when we put down our $2500.
So it took them only four weeks to build the house?
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  #7  
Old 11-11-2007, 02:51 AM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

WHEN I BOUGHT THEY GAVE ME A CLOSING DATE. IF I WAS LATE IT COST ME $250.00 A DAY.....IF THEY WERE LATE IT COST THEM $250.00 A DAY PLUS EXPENSES......HOWEVER THEY ARE NEVER LATE.....
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Old 11-11-2007, 03:19 AM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Quote:
Originally Posted by gfmucci
Does the developer sell new homes if the buyer wants to make his purchase subject to selling his existing home?

If so, I'm sure there is a kick-out clause that gives you the right of first refusal by removing your contingency.

Has anyone used the Realtor referral service TV offer? How has it worked out?
TV relocation dept. will set you up with two realtors in your area. If you use them, you get a discount on your moving costs. We had both the realtors come and give us estimates as to what our house was worth. One of them really didn't do his homework and led us to believe that we'd get a lot more out of our house than we did (he included the finished lower half in the square footage). We decided to try to sell it by owner and were successful in six weeks, so we didn't end up using them. Also, someone said that The Villages is only giving furniture deals, etc. on new homes that have been on the market for awhile (I think that's what he said). We just bought a home a little over a week ago at TV, got the furniture/golf cart promotion and the home had just been released that day.
  #9  
Old 11-11-2007, 06:32 AM
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Default Regarding question On Monthly Home Sales

I can't answer precisely. I simply counted the number of "new residents" listed once monthly in the Thursday "recreation insert" iof The Daily Sun. I'd guess that the number is the total of all home sales, new and pre-owned. I'd also guess that the number is not sensitive to who brokered the home sales.

Another of your questions was how long it takes to build a Villages home. At one point, the lead time from selection of a lot to closing was 45 days, as I recall. That was when they sold houses using the "lot selection-street of dreams-closing" sales approach. Now, however, they design and build homes and buyers purchase them like a new car, as-is, take-it-or-leave-it. But based on what I see around here every day, I'd guess that 45 days is awfully close to the time it takes to build a house from foundation pour to when it's released to the sales staff.

Tens of thousands of people who live in TV have purchased homes under the same "rules", one of which is no closing contingencies such as pre-sale of an exisiting home. That sounds tough and unusual compared to what happens in other real estate markets. But if you think about it, that's about the only way the developer of TV could be successful in designing-building-closing the sale of houses at the pace that they do. And like Frangyomory mentioned below, for us there's no other place we'd rather be. However rigid the rules appear, they're consistently applied and well-communicated to buyers up front. Once you're here all the trepidation regarding the process is forgotten very quickly.
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  #10  
Old 11-12-2007, 12:45 AM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Villages Kahuna, (for informational purpose) the listing of new residents each month isn't a true reflection of homes sold that month. The reason I say that is because we closed on our home in February, 2005 but we didn't move to TV until October 31, 2005. It was after we arrived and received our Village ID's that they included us as new residents in TV Recreation News.
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  #11  
Old 11-12-2007, 02:20 AM
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Default Re: Can new homes be purchased subject to contingency to sell existing home?

Happy Villager
i think you are the exception....Most people receive there gate passes and ID's as part of the closing process for both new and pre owned ......I have done both......The first time I didn't move in for four months but I had my ID and gate pass.............After being here two years i bought a preowned home and again had to have my ID re-issued and recieved new gate passes....Something about checking out and then back in.........anyway it all worked out and I wouldn't live anywhere else........
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