That is true but speculators are the reason so many condos sat vacant and foreclosed in South Florida. It not only protects the developers investment but ours as well.

When we bought here, over five years ago, we got preapproved before any of the contracts were signed. It took almost no time at all. The rate of the mortgage is locked in within 30 days of the closing. If I remember correctly, we could have locked it in prior to the 30 days. The $2,500.00 non-refundable deposit holds the property. Things go quickly here and I see that as a protection for the buyer. If something happened and that property was withdrawn because something went wrong on your end, I'm positive that same $2,500.00 would be applied to another purchase within a reasonable amount of time. The Developer doesn't go around trying to make enemies. He certainly would not benefit by doing so. Unfortunately, the days of the simple handshake deals are long gone. I believe if you talk to a good sales person in the Villages Sales Office or a manager they would be more than happy to walk you through the rationale for each of their requirements. You'd find that both sides are protected. By the way, we have done many, many closing on homes and businesses and I've never been through such a professional experience as the one I had here. Good luck to your daughter and I welcome her to The Villages.

Xavier

I find it interesting that the developer builds a product that 100,000 people wanted to buy and more still coming to buy and then they are called GREEDY.

Well said Gracie!!!!!!

Amen to that.

Oh, by the way, I don't believe there are going to be any houses in Brownwood.

Xavier

These kinds of restrictions are common in fast selling developments. Aimed at preventing speculators who can create some very problematic issues

Funny we havn't heard anymore from the OP?

Well said

Mortgage pre-approval is the best thing to have, of course. Didn't most lenders used to ask for 20 percent down to make sure you could afford the house? Then they were taking less and less down and that is what happened to the housing industry in around 2006?

Yes, it does sound as if the OP might have been a troll just looking to stir the pot.

We closed in Feb. We had our preview in Oct. When we left the preview we had a blank contract in hand and knew EXACTLY what the terms would be. We knew if we wanted to finance we had to have that in place prior to writing a contract. Everything is clearly spelled out and there are no surprises. The initial amount put on the credit card is refunded prior to having to pay the balance in full avoiding any finance charges. The 10% goes toward the down payment. Nothing you pay upfront is lost unless you don't do your homework before signing the contract.

As many stated, why buy if you don't like the terms?

Immoral? Naw.
Cutthroat? Maybe, but it keeps the tire kickers out.

I have been here for 14 years, have visited every nook and cranny in the Villages, and it is beyond belief what the Morse family is getting for these homes, but remember why they able to do it is because boomers will pay the price they ask for, and will continue to raise prices and restrictions a bit at a time. The day they stop buying, prices will drop.

... and when they stop building homes, preowned home prices to take a significant hike. Feels good to me.

Xavier

Supply and demand comes to mind. Is your assertion that baby boomers are financially secure but can be led like sheep?