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FIRST ANSWER
Hi Janice good question. At the initial closing of a new construction home with The Villages, the buyer is given an option of paying off the bond in its entirety or financing the bond on a 20 year amortization. Each area contained in a particular "unit" carries it's own bond amount with it's own carring interest rate. The bond balance and interest due for the year can be paid off once a year on the anniversary date of the original bond. Answering your question, some sellers do pay off the bond balance as an incentive to a prospective buyer. Request for bond payoff can be part of the purchase contract offer and be included in the negotiations, although I have not seen sellers pay off bond balances in excess of a few thousand dollars. Hope this helps. If I can be of further assistance just let me know.
Wed Aug 12 2009, 15:24