[Skybo]

During my research on closing costs I’ve come across a couple of FAQs (on realtor sites) which stated that in Florida the title insurance and state (doc stamp) tax are paid for by the seller on a pre-owned home and paid for by the buyer on a new home. Is that correct?

[logdog]

Originally Posted by Skybo

During my research on closing costs I’ve come across a couple of FAQs (on realtor sites) which stated that in Florida the title insurance and state (doc stamp) tax are paid for by the seller on a pre-owned home and paid for by the buyer on a new home. Is that correct?

TV paid state tax stamps and all other closing costs on our new home. We had no closing costs other than prorated taxes, amenities and assessments. We were given the option of buying title insurance outside the closing process.

[784caroline]

SkyGuy..You are correct..i believe Katzbox in her support for (owners) Title insurance overstated its benefits. Peace of mind, of course, but I have never nor do i know of anyone who asked if the current owners of a house that one is considering buying had "Owners" title insurance...and it would not matter if you consumated the sale and you got your own.


I personally support title insurance for resales and foreclosures in The Villages but in my mind its an individual choice and most likely not worth the cost if you purchase new in The Villages From the Developer. Again, for new buys, individual choice and hopfully no one will ever be proven right or wrong.

[dwbevan]

Originally Posted by Kelsie52

Yes, what hidden costs?

Raen Dear

You are doing the right thing --asking questions here !! you will get many view points.. So let me add mine

We bought new (Buttonwood) couldnt be happier, especially because we arrived here in late Oct --before the winter rolled in up North.

We had no hidden costs --everything that was asked for was listed months before when we signed the contract .We have been here almost 4 months and have found nothing that surprised us other than how quickly the days go by----

Buttonwood or the next few new areas are not in the boonies. Within a few years we feel these areas will be central to both Lake Sumter and Brownwood

Paying the bond off for us was a wait and see --people will tell you lots of Villagers move 3 times within the Villages for one reason or another . If you are going to move why pay off the bond ? We will decide in a year or so .

Title insurance !! Peace of mind .. we took it on on advice from a friend up north who was a Title company Vice president ---he told us very few claims for ownership of the property are ever overturned but many are contested. The insurance company has to defend the case for you. No insurance you are on your own --again will it happen --? dont think so .. but I can sleep better becaue my wife isnt asking me what if ??

Good luck[/QUOTE]

I agree with all of the above - we did rent for a month - but bought in two weeks. We will be snow birds for awhile by choice - we are in Buttonwood for the reasons stated above and have not paid our bond off for the reasons stated above. Our bond on a designer home corner lot is just under 20K.

All of the plusses of living here full or part time outweigh everything else. As I have said before - less than 1 year ago I firmly believed I would not leave Western Mass for anyting more than a vacation. I miss my kids and grandchildren, however, they are surviving without me and SKYPE is wonderful. All will be visiting before we leave for the summer.

We have had more fun and been more active physically and socially in the past 6 weeks than in the past 6 years. The pros far outweigh any cons.

[Taj44]

Originally Posted by dwbevan

Raen Dear

....
Buttonwood or the next few new areas are not in the boonies. Within a few years we feel these areas will be central to both Lake Sumter and Brownwood...

I guess its your frame of reference, but I would consider Buttonwod to be on the outskirts. Buttonwood would be central to Lake Sumter and Brownwood, but Lake Sumter is the approximate center of The Villages at full buildout, so that means Buttonwood will be on the outskirts of anything north of Sumter, which is about half The Villages.