[trekker954]

I'm not sure TV is any different from other Florida cities, but what has you experience been if buying with cash. I own a home outright and keeping it in South Florida but plan a move to TV. I've been up there a number of times, and coming up Saturday for a couple of weeks to look at homes. I know Villages Properties, FSBO and MLS are all seperate.

If I do find my dream home, appraisal wouldn't be requires especially if I get a great deal. I assume I can research myself if there are any liens on the house, or is there a way to request the seller to produce a certificate? (Not sure about that). I think I can go to whatever county assessor and request a lien search. Or hire a title company to do a search.

I shouldn't need Title insurance Policy if I come up with a clear title correct?

So I should only have to pay for a Recording Fees.

Anything else I might need that is specific to TV purchase?

[charlieo1126@gmail.com]

Why pay cash with such low interest rates . I have owned 14 new homes and always put only 20% put your money in other things and especially now at 3% a year from now interest rates will have to climb and even a vanilla cd will bring in more than 3 %

[retiredguy123]

Whether or not you pay cash or buy a FSBO should not affect any of the things you mentioned as long as the closing and title transfer are performed by a title company. If you are buying a preowned house, you should consider buying an owners title insurance policy in case a problem with the title comes up in the future. If you make an offer on a FSBO, I would highly recommend that either you or the seller have an arrangement with a title company in advance, so the title company can accept your earnest money and keep it in escrow until the closing. Don't pay any cash directly to the seller. If you make an offer through a real estate agent, always remember that the agent works for the seller and will share information about your discussions regarding how much you are willing to pay with the seller. Also, it is very important that you get an inspection of the house as a contingency in the sales contract. Many people use Frank D'Angelo, 352-250-7818, to do the inspection because he is very thorough.

[Finchs]

If you really want to pay all cash, my advice would be to forget about saving a buck or two on title insurance, appraisals, inspections, etc. You will have a huge about of money at risk, so take every precaution to protect that money. I suggest you contact a local closing attorney and get them to guide you, pay them to work for you.

[BobnBev]

If you find a house you are really considering, contact Community Standards and ask them to research for any additions or landscaping improvements/additions, that might have needed a permit or approval. If work was done with out, then you could be held responsible for repairs or removal if somebody complains, and we do have some trolls who drive around looking for violations. Do your due diligence, or pay the price.

[Dond1959]

I would probably get a lawyer to go over paperwork and a title company to research liens. Buyer title insurance is probably not needed, but I would get it just for safety in a RE transaction. One thing to check on an existing home is that they have all the ARC approvals for any changes they made, especially landscaping. While it probably won’t be an issue it is possible someone could come back and make you change something, especially if your landscaping is too close to property lines.

[Stu from NYC]

I think it is a personal choice as to whether you want to have a mortgage to pay each month with your estate responsible for taking care of the mortgage if you pass away while living in the house.

Good advise above about protecting yourself during the transaction

[trekker954]

Originally Posted by charlieo1126@gmail.com

Why pay cash with such low interest rates . I have owned 14 new homes and always put only 20% put your money in other things and especially now at 3% a year from now interest rates will have to climb and even a vanilla cd will bring in more than 3 %

CD rates are awful. Even 5 year CD are only about 1.5%. That is usually where I’ve had my money but I’m think just plunk it down on a nice villa that I can come and go.

[vintageogauge]

Most people that buy here do pay cash so it's not a bargaining chip. A new home would not require title insurance but a re-sale is a different story as you never know if there is a lien in process that has yet to be attached, a divorce in another state, etc.,etc., so play it safe.

[Jayhawk]

Originally Posted by vintageogauge

Most people that buy here do pay cash so it's not a bargaining chip.

Where did you get this fact, as it is the opposite of everything I have heard or read?

[Boomer]

Whenever the issue of title insurance with cash buys comes up, I always say the same thing:

When you are paying cash for a house, you are the bank; therefore, do what a bank would do.

(I know how to search a title — sort of — and I have done that when buying houses up north, but even so, we still get title insurance. We got it on our pre-owned TV house, too.)

Like that old saying advises, “Don’t be penny-wise and pound-foolish.”

Please look at the post from retiredguy123, earlier in this thread. He is giving you excellent advice.

Good luck with your house hunt. You will have a lot to choose from.

Boomer

[Stu from NYC]

There is always the chance that a previous owner of this land pops up with a claim to the land. That is why we always have title insurance.

[vintageogauge]

Originally Posted by Jayhawk

Where did you get this fact, as it is the opposite of everything I have heard or read?

65% of new homes and I believe 55% of re-sales are cash buyers. The figures were in the Daily Sun but I could not tell you what date it was published. It was in one of those interesting little tidbits that say things like 6% of the owners are from New York, average age is 67, etc, etc. Also when we purchased our home here in 2017 we asked if there was negotiating room if paying cash and was told pretty much the same thing.

[Stu from NYC]

Originally Posted by vintageogauge

65% of new homes and I believe 55% of re-sales are cash buyers. The figures were in the Daily Sun but I could not tell you what date it was published. It was in one of those interesting little tidbits that say things like 6% of the owners are from New York, average age is 67, etc, etc. Also when we purchased our home here in 2017 we asked if there was negotiating room if paying cash and was told pretty much the same thing.

One major advantage is you can close much faster with an all cash deal.

[Challenger]

Take advise about not buying Title insurance with a big grain of salt . Moat people who are really informed about real estate transactions will avise you to buy the policy. Penny wise and pound foolish !!!