[rubicon]

Originally Posted by Barefoot

I called the Special Assessment Office yesterday (352-751-3900) re discharging our bond. We were planning to pay off the bond along with paying our yearly property tax, which we always pay by Nov. 30 to get the discount. We were told that there is no benefit to us to pay it off now. However if we pay it off prior to March 16, 2014, we will receive a 50% credit on interest.

Barefoot: The Special Assessment Office sent out a general notice sometime ago indicating that some residents had a refund coming. I checked and they claimed I did not.

I wanted to pay my bond off immediately they claimed I could pay it off at closing I closed in august 2006 and was told it had to be paid before July and I had to ait until the following July. In the meantime they charged me a years interest on this bond.

So based on your situation they changed their policy.

C�st la vie

[Barefoot]

Originally Posted by rubicon

Barefoot: The Special Assessment Office sent out a general notice sometime ago indicating that some residents had a refund coming. I checked and they claimed I did not. I wanted to pay my bond off immediately they claimed I could pay it off at closing I closed in august 2006 and was told it had to be paid before July and I had to ait until the following July. In the meantime they charged me a years interest on this bond. So based on your situation they changed their policy. C�st la vie

I actually talked to them again today, just to make sure I understood what they were saying. I always thought that a total discharge of bond had to be made along with the yearly property tax payment at the Tax Office. The bond payment cannot be made at the Tax Office. It has to be made at 3201 Wedgewood Lane They tell me the two pay-off dates are either prior to mid September, or prior to mid March, in order to save interest.

[Challenger]

Originally Posted by Indydealmaker

I agree also. However, my experience has been that all too often real estate agents are not marketers, nor do they learn as much about their products as do other sales professionals. For example, equipment salesmen can usually even show a prospect how to perform maintenance on their products and demonstrate the specific mechanical advantages over the competition.

In a previous life I was the president of a condo association and had an opportunity to observe that virtually no real estate office in the county bothered to have on hand the condo rules and regulations or up to date association financials in spite of the fact that we made them available upon request.

Not all real estate agents lack professionalism, but all too many are lacking in basic training. Professional real estate agents do far more than driving prospects around and buying lunch.

So right

In my previous life I was a community banker. The preponderence of our transactions were home loans. My loan officers would bring me stories about real estate salespeople that would curl your hair. They(for the most part) had little or no understanding of the legal implications of the contract that they were drawing. They would make modifications off the top of their --- with out regard to the fact the they had possibly negated the contract. Misrepresentations about condo doc and community assn regs and it goes on. Many of the folks were part timers and floated in and out of the business, and were rushed on the street by their brokers. During my career I met a "few" true professionals , but the operative word is"few"

Faced with this type of incompetence , the last defense for the home buyer was a Reputable Title co. that would usually attempt to fix the mistakes and misstaments of the RE people.

Caveat Emptor
a phrase that so often applies to this forum.

[rayschic]

Originally Posted by Barefoot

I actually talked to them again today, just to make sure I understood what they were saying. I always thought that a total discharge of bond had to be made along with the yearly property tax payment at the Tax Office. The bond payment cannot be made at the Tax Office. It has to be made at 3201 Wedgewood Lane They tell me the two pay-off dates are either prior to mid September, or prior to mid March, in order to save interest.

Here's a link to more info about the bond payoff. Look at the 8th question, in particular.

VCDD Bond FAQs

[manaboutown]

Thank you rayschic. Very much appreciated!

[2BNTV]

Originally Posted by Cantwaittoarrive

my bond was fully disclosed at settlement, plus I found out the balance on my own before purchasing the home. You can also go on the VCDD site and look up the amortization of your bond Not sure why anyone would trust what an agent told them VLS or MLS

Bought thru an MLS realtor, who told me upfront what the bond amount was. Besides, I asked point blank.

Taxes start in November, every year. Bonds can be paid off in full, after the first of the year if one wants to do that. My first tax bill included the bond amount and I called the VCCD office, and found how to pay the bond. Mine is very small.

If your real agent didn't disclose this amount, they were remiss in their fudiciary obligation. If you want to pursue this course of action. it's up to you.

[rp001]

I was told by three realtors that the bond was paid. One from the seller and two representing me..All said many times the bond was paid..Absolute misinformation from my experienced MLS agents, who are blaming the listing agent. It's a comedy of errors but the only one laughing is the seller.

[2BNTV]

Originally Posted by rp001

I was told by three realtors that the bond was paid. One from the seller and two representing me..All said many times the bond was paid..Absolute misinformation from my experienced MLS agents, who are blaming the listing agent. It's a comedy of errors but the only one laughing is the seller.

I am so sorry that happened to you. It seems, like you can go after the agents and or seller because he was not fully disclosing this transaction correctly. It does seem actionable, but I am not a lawyer.

If this a large amount of money, maybe you want to consider consulting a lawyer for your own piece of mind.

I know, I would bepee'd off. I hope this is not a case of someone pi**ing on your leg, and telling you it's raining outside or buyer beware. I know I wouldn't have had the presence of mind to checked it out beforehand.

Good luck, in seeing if this is something, you can do something about.

[Advogado]

I continue to be surprised that the FTC or other regulatory agency hasn't forced the Developer (and MLS brokers) to disclose the amount of the bond in advertisements. Not to do so is really nothing more than deceptive advertising. Most Villagers are probably well-informed enough to determine the amount of the bond and consider it part of what they will be paying for the house. However, as indicated by this thread, at least some first-time buyers are not.

The present system of untruth in advertising gives the Developer an edge in selling new homes--which have a very high bond and which compete against preowned homes with a much-lower bond.

[Easyrider]

Originally Posted by Advogado

I continue to be surprised that the FTC or other regulatory agency hasn't forced the Developer (and MLS brokers) to disclose the amount of the bond in advertisements. Not to do so is really nothing more than deceptive advertising. Most Villagers are probably well-informed enough to determine the amount of the bond and consider it part of what they will be paying for the house. However, as indicated by this thread, at least some first-time buyers are not.

The present system of untruth in advertising gives the Developer an edge in selling new homes--which have a very high bond and which compete against preowned homes with a much-lower bond.

Big money talks really loud... Apparently the state of Florida doesn't care either.

[Advogado]

Originally Posted by Easyrider

Big money talks really loud... Apparently the state of Florida doesn't care either.

So it seems.

[Easyrider]

Originally Posted by Advogado

So it seems.

For sure, the IRS issue should also have been being disclosed for a long time now and should be disclosed going forward until resolved to any new prospective buyer. Either no one cares or don't think there is anything they can do...could come back to bite big time if it tuns out negatively in the end.