[graciegirl]

Most people involved in real estate would know this stuff.

[billethkid]

There is no reason any non Villages bank cannot be ready for the closing as there is plenty of time to get it done.

We did not use CF because they were not competitive rate wise.....not even close.

btk

[TheCollierCpl]

Nanci, I'm a CPA and we have excellent banking contacts through business as well as on our own. We ended up financing through Citizens Mortgage. Need I say more? BTW our clender there was Steve Kohler. (we understand that Cirtizens finances about 90% of the financing in TV. I never verified that statistic but they make it as painless as possible, and with the new banking regs, it's a real pain!
Best wishes and welcome.

[Cantwaittoarrive]

I recommend Tom Sinak at USA Mortgage. He has a Florida mortgage lic. his office is in St Louis but he closes loans in 30 days or less and he so good and proactive its the best experience you will ever have with a mortgage broker. Even though he is in St Louis he deals with customers remotely every day and I know from speaking with him that he has closed many loans in TV

[asianthree]

we used our own BOA bank..using the branch in TV..we closed one day late...cost to us $484.67 per day... yes better rate with our bank, less closing costs, but if you are late closing you are ...a preowned on the other hand use your bank all day long

[graciegirl]

Originally Posted by Kirsten Lee

Ask a Villages sales rep for a blank copy of the offer to purchase. It is longer than most I have seen. (I have worked in lending for 27 years.) Read it carefully. It says if you do not close in The Villages, Mclin and Burnsled (The villages attorney firm) basically control the closing. Their attorney's prepare the settlement statement. Also, the title company will require a survey ($200) or they will not issue title. This is a pure money maker as I am sure the lot lines are well known. Most lender's do not require a survey unless there is an unusual item like a shared driveway. We paid a closing fee here in Wisconsin and a closing fee to Mclin and Burnsled. Our Village Sales rep was very concerned that the independent appraiser would not appraise the property correctly. He even showed up at the house and gave the appraiser a list of other homes in the area for him to compare our house to. Totally illegal. This was after I told him and his boss (he claimed he would retrain the sales rep) that he was not allowed to have any contact with the appraiser.
That being said, use your outside lender, the rate is much better and with the slowdown of refi's, I am sure your lending can get the deal done quickly.

I would think that an independent appraiser not used to the home styles here would be mighty confused comparing one designer to another. Some designers vary up to 700 square feet in area and many look alike until you know the difference.and the upgrades here..

Where I am from I don't think that practice would be illegal. Laws vary from state to state, and you seem to know of what you speak.

But the op is a realtor, and of course the laws in her state may vary from Florida's real estate laws.

And of course, sales people do want to sell, but it isn't very hard to do that here, whether you are MLS or a villages rep.

[Challenger]

Originally Posted by Kirsten Lee

Ask a Villages sales rep for a blank copy of the offer to purchase. It is longer than most I have seen. (I have worked in lending for 27 years.) Read it carefully. It says if you do not close in The Villages, Mclin and Burnsled (The villages attorney firm) basically control the closing. Their attorney's prepare the settlement statement. Also, the title company will require a survey ($200) or they will not issue title. This is a pure money maker as I am sure the lot lines are well known. Most lender's do not require a survey unless there is an unusual item like a shared driveway. We paid a closing fee here in Wisconsin and a closing fee to Mclin and Burnsled. Our Village Sales rep was very concerned that the independent appraiser would not appraise the property correctly. He even showed up at the house and gave the appraiser a list of other homes in the area for him to compare our house to. Totally illegal. This was after I told him and his boss (he claimed he would retrain the sales rep) that he was not allowed to have any contact with the appraiser.
That being said, use your outside lender, the rate is much better and with the slowdown of refi's, I am sure your lending can get the deal done quickly.

My experience is more than 50 years in the real estate lending business .

Trying to improperly influence an appraiser is obviously illegal . Providing factual info is not. Title companies typically require curreny surveys .

I have bought 8 homes in the last 50 years in Md, Va, and Fl and other investment and commercial properties. I found Citizens Mortgage, and Mclin Burnsed to be fair , competent and reasonable in their charges.

[The Buckeyes]

When I built my home in Ohio I used Merrill Lynch as I already had and account with them so I also decided to use them when I built this year in TV. As usual there was a lot of paperwork but everything went smoothly and closed on time. Great interest rate also. As for appraisal they used an outside concern and the final appraisal came in 13K more than the price I paid to build it!

[keithwand]

You know your house will appraise using Citizens no doubt.
I did appraisals part time in 2005-2006 when we first moved to Fl and things may have gotten better but an appraiser can still be swayed when the their our commissions involved.

[ilovetv]

This is what I see in our neighborhood. Out-of-state banks double or triple the length of time till closing, turning the 30 days Citizens and McLin & Burnsed do into 60 or 90 days....bad for a seller.

What seller wants to wait 90 days to get their money, especially when they are moving and have bought or are planning to buy another home with the proceeds of the sale?

Citizens does a good job with good rates and they close on time, in 30 days.

Another lender we met told us that when it's a second home you're buying, it is treated as an "investment" home and the rates for that are higher than for one's primary home loan. Not sure if that's the way it is or if it's the reason why some are getting a higher rate, but it's worth finding out about it.

[asianthree]

if its not your primary and you are renting its 1% higher