Will give lot back

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  #46  
Old 06-29-2011, 10:43 PM
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Bettiboop Bettiboop is offline
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Originally Posted by Zoomie1955 View Post
Betty,
What exactly touched your heart? My sad tell of the housing market or the fact I am STILL working with my husband at home? ( still alive)(yet).
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.

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!
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  #47  
Old 06-30-2011, 06:50 AM
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Our agent told us they will put our deposit in a non-interest escrow account. When we do sale we can put that money on another lot or on a house The Villages are selling.
Hopefully someone will come out of the woodwork and buy our home in Pa.
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?
  #48  
Old 06-30-2011, 03:16 PM
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Originally Posted by Bettiboop View Post
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.

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!
I wish I known how bad the housing market was before putting a deposit down on a lot. Live and learn!!!!
  #49  
Old 06-30-2011, 04:39 PM
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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!
  #50  
Old 06-30-2011, 08:12 PM
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Default Deposit on unused lot

Quote:
Originally Posted by Zoomie1955 View Post
Our agent told us they will put our deposit in a non-interest escrow account. When we do sale we can put that money on another lot or on a house The Villages are selling.
Hopefully someone will come out of the woodwork and buy our home in Pa.
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?
  #51  
Old 06-30-2011, 08:36 PM
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Originally Posted by aljetmet View Post
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.
  #52  
Old 06-30-2011, 08:52 PM
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Default Deposit on unused lot

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