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Taylor Morrison New Construction Red Flags

Yesterday I viewed a new construction home with Taylor Morrison. They wanted $14,832 up front in earnest money, with no signed official purchase agreement.

They said their policy is that they send the official purchase agreement AFTER the payment is made to their website.

This is bad business practice. I hope no one falls for this. I chose not to proceed because every property I bought, the max earnest money I’ve put down was $3,000. Also because I’m not an idiot.

I should clarify, the house is near completion. The closing date is set to April.

Do you guys know if this is something they do to everyone? Why are they doing bad business?

submitted by /u/Silent-Suspect-1585
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source https://www.reddit.com/r/RealEstate/comments/1jimsnb/taylor_morrison_new_construction_red_flags/

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