Skip to main content

New Home Builder hit me with $2K in Hidden Costs - Pre-bid. Seems like an Ethics violation

Pulte homes — has a bidding program where they have a Drawing and you enter by submitting an Offer.

Your Offer includes some questions - and an additional Lot Premium Bid - on top of the Builder Lot Premium. You also include your anticipated amount you will spend on Options - and your Elevation choice.

So I submitted an Offer and won.

After winning - when signing the sales agreement - the builder hits me with $2000 in mandatory structural options - because it’s a Corner Lot. They add on a little feature of rock siding to the side of the house because it’s a corner lot.

This cost was completely hidden to me - until the sales agent mentioned it when I signed the agreement.

I feel this should have been included in their lot premium - since it’s required for the corner lot.

I feel this was a misrepresentation and it was a hidden cost.

Do I have any recourse?

Is this an ethics violation?

Should I threaten to file a formal complaint if they do not absorb that cost themselves ?

I want to write a very direct email - but I also want to make sure I word it correctly and threaten the appropriate action.

I also don’t want them to refuse to sell to me either.

But I don’t feel like it’s fair for them to Hide Costs.

submitted by /u/LocoShibe22
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/o9htkk/new_home_builder_hit_me_with_2k_in_hidden_costs/

Comments

Popular posts from this blog

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...

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/

Co-signing as non-primary resident - effect on size of required downpayment & first time home buyer status?

Contemplating co-signing on a house with my mom and splitting the mortgage payment. I currently have a significantly higher income and much better credit than her. I'm looking at potential home costs and related downpayments but have difficulty using some of the online estimators. From my perspective, this would be somewhat of an investment purchase (I intend to stay in my current location in a different state and contribute to the mortgage), however, for my mom, this would be a primary residence. For purposes of the downpayment size and the type of mortgage arrangement, would it be an investment property or a primary residence? Many thanks for any help. submitted by /u/piercalicious [link] [comments] source https://www.reddit.com/r/RealEstate/comments/km4hvl/cosigning_as_nonprimary_resident_effect_on_size/