Zoomie, your story touches my heart too girl! Hope things work out for you real soon. From what I read there are lots of people in the same boat. :sigh:

It is getting closer to time when we will be trying to sell and make our move to TV and I am already worried about what the housing market will be like when that time comes.

I sure wish it were possible to choose a lot and hold it for longer than a year...I'd buy a lot tomorrow if it were! I can see their reasoning for not allowing it, though.

Good luck to you!

That is the policy to the best of my knowledge. I guess that would end when build out is finished. So maybe 4-5 years from now?

I wish I known how bad the housing market was before putting a deposit down on a lot. Live and learn!!!!

You'll be able to use it towards another lot soon enough and you will love that lot even more!

Deposit on unused lot
 

After visiting TV 16 months ago our agent called to see how we are doing.
Some small talk and I asked what happens to your lot deposit if you cannot build after the year is up. Although contractually you're are out the deposit, TV will hold your money. But it is used when you close on your house. Cannot be used for another deposit on a lot. Cannot be used for 20 % deposit when you start the build. Only used as credit when closing.

Anyone experience a different scenario?

When my agent calls, I will ask him about this. At least you don't lose the money. That's a good thing.

Deposit on unused lot
 

:agree: