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Need Advice on how to Proceed with new Build (KB Homes) switching up their concessions on us after numerous construction delays

Hey everyone, looking to see if anyone has dealt with the same issue or has any advice or any higher up contact with KB homes in Houston that they can provide me with to reach out to. .

We entered a purchase agreement with them in February, the terms were:

- 5.75% fixed interest rate for 30-year FHA loan (IF we used their lender)

- $5000 towards design center or closing costs (we chose toward closing costs) if we used their lender

-$500 towards closing if documents were submitted within 3 days to their lender, which they were

So, the final terms were 5.75% fixed rate + $5500 for closing.

Well, it wasn't long after the construction process started that they told us the subdivision had no power. We got multiple delays that pushed us way out of our original closing window and so we were unable to lock that original 5.75% rate (the agreement states we needed to lock within 30 days)

Now we are 2 weeks before closing and the lender decides to tell us they have no information regarding the interest rate concession.

We mention this to our sales agent,they negotiate with higher ups and come back and state they can offer 5.99% ....fine we'll work with that.

NOW they're saying ,they can either do 5.99% OR the $5500 towards closing, not both.

We were never told it was one or the other and now we're very frustrated with this situation.

Although we have the cash to pay the additional closing costs. Why would we willingly want to when the original purchase agreement stated both concessions?

The way I see it is they're trying to play me by taking money out of one pocket and placing it in another. They want to buy down the rate using the closing cost concession and that's just dishonest and unfair.

I'm pushing back on this and requesting both concessions. The 5.99% and the $5500. But they take so long to get back and I'm basically communicating through a middle man. I want to speak to those higher ups directly and formally submit an email but I have no email address to contact.

Any advice? Anyone have contacts I can reach out to from KB home to escalate the concern in Houston area?

We're running out of time to close and we do not want to push back the date and we don't want to be forced into making a last minute rushed decision.

submitted by /u/Chris1671
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source https://www.reddit.com/r/RealEstate/comments/1xa7vlx/need_advice_on_how_to_proceed_with_new_build_kb/
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