Closing costs- New Construction vs Pre-owned

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #1  
Old 12-19-2007, 08:39 PM
yankees yankees is offline
Junior Member
Join Date: Jul 2007
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Default Closing costs- New Construction vs Pre-owned

I will be visiting TV in May for the 3rd time and plan to retire in September and buy a house in TV.....love your community. Can anyone help me get some true figures on the costs of closing when buying a new home vs pre-owned...from municipal fees to attorney fees....plus any other costs. Thank you for your help.
__________________
New Bedford, MA<br />Fairhaven, MA<br />Village of Springdale
  #2  
Old 12-20-2007, 02:13 AM
Bubbalarry's Avatar
Bubbalarry Bubbalarry is offline
Senior Member
Join Date: Jul 2007
Posts: 365
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

Right now TV are offering in some new home sales free closing costs, except for utility setup fees. As for the resales I can't help you on that since I didn't pay any fees when I bought new in Sept 07.

However a good idea is to call a villages sales agent.
__________________
Philly,Colorado Springs, Yardley,Pa. Mt. Laurel, NJ. Palm Desert,CA.Scotsdale, AZ. Ocean City,NJ
  #3  
Old 12-20-2007, 03:18 AM
DickY's Avatar
DickY DickY is offline
Veteran member
Join Date: Jul 2007
Location: Village of Duval
Posts: 519
Thanks: 0
Thanked 2 Times in 2 Posts
Default Re: Closing costs- New Construction vs Pre-owned

My closing costs were under $4000 new. (yesterday) ;D
__________________
Harrisburg, Pa ----------> Village of Duval
  #4  
Old 12-20-2007, 02:27 PM
KathieI's Avatar
KathieI KathieI is offline
Dancing Thyme
Join Date: Jul 2007
Location: Mallory Square
Posts: 5,778
Thanks: 5
Thanked 30 Times in 5 Posts
Default Re: Closing costs- New Construction vs Pre-owned

Boomer, please don't stop, :bigthumbsup:
they are all good questions ???

DickY, congrats on your closing 040 040

What a relief that must be.

Kath
__________________

Bronx ♫ Los Angeles ♫ Hadley, Sept. 08 and then the beautiful village of Mallory Square 2014

A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked."


(For those who know me) I consider ON TIME to be when I get there.....
  #5  
Old 12-20-2007, 05:40 PM
bimmertl bimmertl is offline
Veteran member
Join Date: Jul 2007
Posts: 690
Thanks: 20
Thanked 4 Times in 4 Posts
Default Re: Closing costs- New Construction vs Pre-owned

We closed on a pre-owned MLS home November 15th. Here are some of the costs not including interest, taxes, CDD/bond fees etc, which very depending on loan, bond etc.

This is from the HUD settlement statement and the numbers correspond to the location on the form.

1100. Title Charges $423 This is the sum of all items charged to us (buyer) at closing. The seller paid roughly $2,000 for the title policy and fees as listed in the sellers portion of the HUD statement. Seller pays for the title policy here.

1200. State tax stamps $950

1300. Additional Charges (included survey, pest inpsection and VCDD charges for garbage fees, etc $600 I prepaid a home inspection fee of $250 which would normally show up on the HUD form but didn't due to the pre pay.

Add in about $2,100 in county taxes and assessments paid in advance by the seller, which now are added to the buyers costs and you come in around the $4,000 previously stated by DickY.

  #6  
Old 12-20-2007, 06:44 PM
travelstiles's Avatar
travelstiles travelstiles is offline
Senior Member
Join Date: Oct 2007
Posts: 457
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

DickY - Congratulations!!! 040

Bubbalarry - We've looked at over 20 homes with TV real estate last week (including a few new ones) and were never told about a promotional discount on closing costs for new construction homes :dontknow:

Also, while we have been active prospects since our preview visit in May, we only learned about the closeout specials through TOTV - and when we mentioned it to the RE agent we were told the office managed those email promotions and that they had no control over who got the mailings or how the mailing list was compiled :

I'd like to know why this is not either on their website, or automatically communicated (by letter or email) to qualified, active prospects?
  #7  
Old 12-20-2007, 10:17 PM
Peggy D Peggy D is offline
Veteran member
Join Date: Jul 2007
Posts: 656
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

Congrats DickY. Now you can start living TV life!!





Anybody out there want to adopt me....I want to be a "Village People" too!!
(whine)
( Don't want to wait for this house to sell)
__________________
Wilmington, DE
Newark, DE
Ocean View, DE
Village of Hemmingway
  #8  
Old 12-21-2007, 09:14 PM
pili pili is offline
Senior Member
Join Date: Aug 2007
Location: Village of Hemingway
Posts: 198
Thanks: 0
Thanked 1 Time in 1 Post
Default Re: Closing costs- New Construction vs Pre-owned

We have not visited yet. We are coming in May but I received the email in October and a second one in November. The email had link to site advertising the discounts in new homes.
A friend of mine who's also planning to move to TV (she's already done the Life Preview) received the email before me. I received the promotion about a week later.

I would have guessed that anyone who has been in touch with sales department would have received the promotion.

Pili

Merry Christmas everyone!!!
  #9  
Old 12-22-2007, 08:57 PM
efrahin efrahin is offline
Senior Member
Join Date: Aug 2007
Posts: 206
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

I am getting upset on how things are done here in TV. Dont misunderstand me, I love it here, we have been staying here for the month of December (one week to go) and there are nothing for rent in January except at exhorbitant prices otherwise I will stay longer.
We are dealing with a salesman, (ver nice) we saw a new house. Gardenia in a corner with an extended covered patio w/Hot Tub in a golf course. The price asked was $477,000 The problem is that there is no way to compare it to anything, I have asked for a breakdown of the options on the house to bring it to that price and get the round around but no answer. Does anyone knows the methodlogy they use. It feels like you are in a car dealer, the salesman always refers to "they" fix the price and nothing the salesman can do. It is so much like a car dealer that is repulsive. Any advise will be welcome, we only have a few days left before going back to the land of snow, cold weather, traffic, aggravations and DOLLARS. ;D
  #10  
Old 12-22-2007, 10:39 PM
DENNIS G DENNIS G is offline
Senior Member
Join Date: Nov 2007
Posts: 221
Thanks: 0
Thanked 0 Times in 0 Posts
Send a message via AIM to DENNIS G Send a message via MSN to DENNIS G
Default Re: Closing costs- New Construction vs Pre-owned

We know of a couple that just bought a new home and were given the choice of 30k discount or 30k rebate to use for furniture and golf cart. (but it had to be used here in TV). Our agent told us a couple months back that there were discounts to over 100k depending on price of the home, and that there were over 50 premier homes in the inventory with prices over a million dollars. A few designers up to 500k. Ours is Somerset designer 2881 sq. ft. Concrete block/stucco, we received 32k discount in May 2006.
  #11  
Old 12-22-2007, 10:53 PM
villages07's Avatar
villages07 villages07 is offline
Sage
Join Date: Mar 2007
Posts: 11,058
Thanks: 2
Thanked 15 Times in 12 Posts
Default Re: Closing costs- New Construction vs Pre-owned

efrahin,

Your agent should be able to tell you what the lot premium is on the house, i.e., the house with options is 350K and your lot premium is 127K. A year ago, they would provide this breakout. They did not give me a breakdown on the house cost and options costs, though. In the olden days of the 'street of dreams', homebuyers picked every option and knew what they cost.
__________________
Maryland (DC Suburbs) - first 51 years
The Villages - next 51 years
  #12  
Old 12-22-2007, 11:40 PM
travelstiles's Avatar
travelstiles travelstiles is offline
Senior Member
Join Date: Oct 2007
Posts: 457
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

Efrahin,
I agree that it is very difficult to get a straight answer on specific questions regarding both new and resale homes from TV real estate agents. I was a licensed RE broker in NY for over 10 years and am very surprised at how little information is given to prospects by TV salespeople. We first looked at homes in May during a visit, and have been actively looking online and speaking with TV agents for over 6 months.
We only received the email on the discounts when we inquired about it, and experienced numerous other "issues" which convinced us to purchase through an MLS broker instead.
The MLS site, among other things, gave us complete information up front, such as section, lot and block numbers, specific information on how to calculate the taxes, printable copies of the various floor plans on TV models, and when we made our offer the agent got back to us within 6 hours with a counter, and we finalized the deal in less than one day.
I don't want to go into specifics on the issues we had with TV real estate, but trust me when I say they were numerous and we did not find it professional. Perhaps it was just the agents we were "assigned" during our preview.
I realize others may have had better experiences, and this in no way changes the fact that we love The Villages and are looking forward to our move, but as the saying goes "caveat emptor."
Please check into rentals by owners and inquire with MLS brokers as well. Hope you find a rental soon and your perfect home as well. Good luck and Happy Holidays!
  #13  
Old 12-23-2007, 01:07 AM
chelsea24's Avatar
chelsea24 chelsea24 is offline
Sage
Join Date: Nov 2007
Location: Chicago, IL Now-The Villages!
Posts: 3,818
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

__________________
Laughter and Light, Chelsea
  #14  
Old 12-23-2007, 01:11 AM
chelsea24's Avatar
chelsea24 chelsea24 is offline
Sage
Join Date: Nov 2007
Location: Chicago, IL Now-The Villages!
Posts: 3,818
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

What happened to the rest of my post. I was saying you have to keep after your Realtor for all the latest promo's and news. I drove mine crazy, but in the end, when we bought in Sept, we ended up with tons of new furniture, which was the promo for Sept. Of course, my husband would have preferred the 10 percent off the price of the house, but I loved the furniture shopping and I still have more to spend. I heard from my neighbor that in Nov. the promo was some furniture and a percentage off a golf cart. So just stay after your Realitor and make sure they send you all the emails on promos. Good Luck.
__________________
Laughter and Light, Chelsea
  #15  
Old 12-23-2007, 01:20 AM
hunt9791 hunt9791 is offline
Member
Join Date: Oct 2007
Posts: 58
Thanks: 0
Thanked 0 Times in 0 Posts
Default Re: Closing costs- New Construction vs Pre-owned

We first came down and did a pre-view tour in late August....did the bus tour and saw only new model homes. Our Villages agent said they handle "98% of all listings for resales? We know this is not true. We visited again in November and engaged a local Realtor and he got us interested in TOTV and things began to click!! Reading all the other posts has confirmed our suspicions that if you want a brand new home you take the 2 hour hold deal, or leave it. And I would trust what the Villages realtor's say, but definitely verify every word!! We have found the residents we have met to be very happy and we find it strange that the developer's let their employees conduct themselves in a manner that at times casts doubt on their sincerity and trust ability; and makes the house buy process look like the N.Y Madison Avenue hustle!
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 03:14 AM.