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New home builder keeps increasing price after lot deposit

Earlier this month, I found a new construction home builder and loved everything so I wrote a $5k check for the lot deposit. Nothing was signed except for the check. They told me they wouldn’t be able to contract it for a couple of weeks as they were limited to how many they could contract per month.

Today, we are still not under contract and they have raised the floor plan price online twice and now it costs almost $15k more.

While I can afford it, will they honor the price that it was when I put down money on the lot? Or can they just keep increasing the price since we don’t have a contract yet?

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

source https://www.reddit.com/r/RealEstate/comments/kmtbch/new_home_builder_keeps_increasing_price_after_lot/
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