Skip to main content

Buying new construction spec home, advice on asking for comps when builder won't budge on price.

Buying a new spec home which hasn't been built yet, the lot still being assessed and it'll be another 5 or 6 months. We signed our contract and put down a 1k deposit as we were in a time crunch and they were letting us pick the lot we wanted before they decided on which model to place on said lot. They were offering 3k off if using a preferred lender but even they agreed that my current lender had the best offer. We are in a buyers market in this town and this is just one of more than 10+ builders in the area also making new homes (we just preferred the layout of this builder better)

I want to know how/when would be a good time or if it's even feasible to ask for a comp before we really buy the place, so far they haven't really budged but I don't even know how to really ask for these things... I'm not afraid to walk if they won't do this, it'll be a 1k lesson but at least I won't feel regret for the purchase. I wanted to ask them to comp the floors.... And do all tile vs tile and carpet, they stated it would cost me an extra 3k if I pay them to do it. There's a lot of things this builder doesn't include that others do (screened in porch, cabinet handles, soft close drawers etc) idk what angle I even have.

Tldr: how do I nicely but successfully convince new builder to comp the floors on a new build, how to not take no for answer I guess?

submitted by /u/thebiggerpiicture
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/c6kbaf/buying_new_construction_spec_home_advice_on/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...