Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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DE..... maybe I'm interpreting this incorrectly....are you saying on a resale, that the new buyer MUST pay off the existing bond balance? Or, does he/she just inherit the balance and can elect to pay it off in total or pay it down yearly just as the original owner did?
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Maryland (DC Suburbs) - first 51 years ![]() The Villages - next 51 years ![]() |
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#17
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I don't know. I am not saying the bond must be paid off. However, the bond balance, if any, will be addressed. Any local RE broker would have the correct answer. |
#18
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The buyer assumes the same obligation as the original owner.
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#19
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TV is building the Bigonia with poured concrete walls instead of CB I understand. A friend of ours was talking to the contractor. He said they were trying this. I like this house too. I'm told there are two other new models.
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Wilmington, DE Newark, DE Ocean View, DE Village of Hemmingway ![]() Last edited by Peggy D; 02-02-2009 at 05:29 PM. |
#20
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Judy Not an accountant or an English major, neither ![]()
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Toledo, Maumee, Lima, Columbus & Sandusky, Ohio New Castle, Newark & Delaware City, Delaware Lewisville, Pennsylvania Bossier City, Louisiana Salt Lake City & Ogden, Utah The Villages, Florida |
#21
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Skip |
#22
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My closing costs were a couple hundred bucks, and the bond was about $10K
course I had a patio villa, but still not so bad in my mind, I shopped a lot of Florida real estate and for the lifestyle and the home, I think TV is just a bargain, IMHO |
#23
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I didn't find that to be the case at all. Other than prorated stuff like amenity fees, taxes and bond (all stuff that is rightfully associated with the purchase of the house) and buyers' title insurance (which is optional) there were no other closing costs. However, we paid cash. If we had financed the purchase, then the mortgage company would have assessed quite a lot of fees as I recall; but I assume that they would have assessed those same fees regardless of whether it was a new or resale.
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#24
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This is different than when we closed several years ago. When we bought in 2005 we did have a LOT of closing costs. They dont do that anymore. jeffy |
#25
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Here's what I have from the aforementioned sale..brand new , this is March 2007. A Camelia, the purchase price was $237,000
$5525 in closing costs associated with the mortgage (20% down conventional) in addition to those, the pro-rated county taxes..which of course you pay no matter what,, here are the costs associated with the new house purchase= Mail Box Fee ..........................$190 Deed recording fees. ................156 Documentary Stamps...............1660 Utility Hook up........................2300 wAter hook up..........................700 underground electric Service Fee...165 Water and wastewater fee.......... 90 electric meter fee...................100 Building Permits....................3998 That came to a total of ......$9498 as far as I know that $9498 is from buying a new place. You wouldn't pay that on a resale... In addition to those fees is the bond, which in this case was $20500. So, in addition to the purchase price in this example, one would add the bond price (which may or may not be a factor in the purchase of a resale) and the $9498 that would not be a factor in a resale. My understanding is that some of these charges may be picked up by the developer at certain times, depending upon market conditions, to "sweeten" the deal. I don't know if that's true or not. I heard that. Could be BS. Correct me if I'm messed up on this. I think I get it, but I'm still crunching these numbers. Dan L |
#26
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Closed Thread |
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