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Old 09-21-2015, 08:26 AM
 
Location: Ocala, FL
4,019 posts, read 6,781,951 times
Reputation: 3835

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Quote:
Originally Posted by rjm1cc View Post
You should be able to buy without buying title insurance.
My assumption is the title insurance covers your investment in the home if it is determined that OTOW does not own the land and thus you have to move. The land owner would keep the house or maybe ask you to move it.
If bank financing is involved, I would imagine title insurance will still be required. If buying with cash, it is not required.
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Old 09-21-2015, 03:04 PM
 
Location: Ocala, FL
67 posts, read 211,148 times
Reputation: 41
Quote:
Originally Posted by dontaskwhy View Post
If bank financing is involved, I would imagine title insurance will still be required. If buying with cash, it is not required.
Thank You for the explanation. I use cash
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Old 09-28-2015, 02:50 PM
 
Location: Ocala, FL
67 posts, read 211,148 times
Reputation: 41
Quote:
Originally Posted by Dax13 View Post
Good question. I would have never thought of Title Insurance on something I didn't own. PLEASE. PLEASE..Post what you find out. Thanks

Dax
I had a 2nd visit. The salesperson could not give me a clear explanation about paying title insurance on "rented" property. She hemmed and hawed about you own the lease so there is nothing to worry about. In fact, most of the 4400+ homes there are on leased property. It seems like a great deal for the OTOW ownership, especially when you consider that a nice lot will have a $10,000---$30,000 premium. As I see it...you are paying a huge premium to lease someone else's property. You have to pay the title insurance and the annual property taxes for them.

I like the homes, but I just cannot get comfortable with this leased land plan.
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Old 09-28-2015, 06:49 PM
 
Location: Florida
4,965 posts, read 4,356,230 times
Reputation: 4993
Quote:
Originally Posted by sprintrps View Post
I had a 2nd visit. The salesperson could not give me a clear explanation about paying title insurance on "rented" property. She hemmed and hawed about you own the lease so there is nothing to worry about. In fact, most of the 4400+ homes there are on leased property. It seems like a great deal for the OTOW ownership, especially when you consider that a nice lot will have a $10,000---$30,000 premium. As I see it...you are paying a huge premium to lease someone else's property. You have to pay the title insurance and the annual property taxes for them.

I like the homes, but I just cannot get comfortable with this leased land plan.
Then buy a home on land they will sell you. Look in the Candler sections. New and resale.
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Old 10-05-2015, 03:13 PM
 
5 posts, read 6,287 times
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Would someone be able to tell me if you are able to get to the shopping center (Publix) via golf cart from OTOTW and Stone Creek. I am viewing the site plan for OTOTW and it seems pretty easy. But if you live in Stone Creek, do you have to go through OTOTW to get there? Are you allowed access to OTOTW to do this? I do not drive and am considering purchasing in OTOTW. Also, are there usually a lot of used golf carts listed for sale somewhere in the community? And my last question, are there handymen for hire within the community for things like hooking up light fixtures, ceiling fans, etc. Thank you for any help!
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Old 10-05-2015, 03:55 PM
 
51 posts, read 186,583 times
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You can get to two shopping centers from On Top of the World. One has a Publix, the other a Winn Dixie and both have restaurants and hair dresser. You cannot get to these shopping centers by golf cart from Stone Creek. There has been lots of talk and rumors about a path going through, but the last I heard was that the owner of OTOW (who owns the land that the path would have to go through) does not want to allow it. Don't know if this is true. Both Stone Creek and OTOW offices have lists of handymen and contractors.
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Old 10-05-2015, 05:24 PM
 
Location: Florida
4,965 posts, read 4,356,230 times
Reputation: 4993
Do not drive - then look at the community bus service OTOW offers residences. This might be of a lot of value to you. Be sure to check stops and how much time you have at a stop. I think the service is free but not sure.
By the way a new doctors office is opening in the square and you can get to it by golf cart.
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Old 10-18-2015, 12:37 PM
 
5 posts, read 6,287 times
Reputation: 10
Thank you for your help. Also, I remember looking at a OTOW newsletter online at some point. I am searching everywhere but I can't find it. Does anyone have a link for this newsletter? It had a lot of great info in it. We are headed up there in a few weeks to look and purchase and we are very excited about this community. It sounds like a lot of fun!
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Old 10-18-2015, 01:30 PM
 
113 posts, read 233,889 times
Reputation: 39
A few days ago I spoke with a OTOW rep about the 2-day World Tour. I mentioned in our conversation I planned to buy a new home in three years. She said the OTOW World Tour was only for people who are buying a home within one year. Has anybody heard about this policy?
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Old 10-18-2015, 01:56 PM
 
113 posts, read 233,889 times
Reputation: 39
One of the reasons I want to move to a retirement community is because I am single and tend to be a "loner". This has suited me fine until a few years ago when I had to go to a hospital (in New York State) for a medical procedure which required a sedative. The hospital's policy was I needed a neighbor or a family member to bring me home after the procedure. I couldn't use a cab. I couldn't use an ambulette. It had to be a family member or a neighbor. And I didn't feel comfortable asking any of my neighbors. My brother, who has the same "loner" lifestyle as me, had the same problem when he had to go to a hospital on the other end of New York State and required a sedative. When I attempted to bring this up with one retirement community rep, she started telling me about a "singles" club in the community. I think she missed my whole point. I read Sun City Center has residents who volunteer to escort people to and from the hospital. Does OTOW have anything like this? Or is this not a problem in Florida hospitals.
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