What Exactly Does “No Bond” Mean?

I get this question all the time because its a very confusing issue.

A lot of times when looking at resales in The Villages you’ll see the statement “No Bond” or, in many cases “Bond Paid”.

What does this mean?

Well, depending on who wrote it, it can mean one of a couple things.

For homes that are in the Lake County portion of The Villages you’ll most likely see the phrase “No Bond” used.

And that’s accurate because the Lake County portion of The Villages has no bond or CDD Assessments.

But you’ll sometimes see the phrase “No Bond” used even when describing homes in Marion and Sumter counties.

Why?

Well perhaps the CDD infrastructure portion has been paid off, but as any good reader of my book will tell you, the CDD maintenance portion remains in perpetuity.

A better term to describe homes that fall under this scenario would be “Bond Paid” and you’ll see that many agents use this terminology.

But when in doubt, just ask your agent what it means. And if they try to sweep this under the rug by saying “Oh, its just part of your tax bill…nothing to worry about” … its time to find a new agent.

3 thoughts on “What Exactly Does “No Bond” Mean?”

  1. Pingback: What exactly does “NO BOND” mean? | The Villages – Real Estate Blog

  2. Pingback: recent foreclosure

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