Keep in mind that if you're looking for homes right now in Warm Springs, if you believe the charts, the "bottom" may have been sometime in 2009. As someone suggested, try comparing what kind of existing home you could get in the Warm Springs area for the same price. I think you'll find that anything equivalent is either tiny (like 1100 SF), in bad shape (needing whole-house remodeling to even compare to a new house), and/or located outside the Irvington or MSJ attendance areas.
I'm not sure if you'll have much luck getting out of the contract, but you should probably seek the assistance of an attorney as others have suggested. As part of the home buying process, I'm assuming KB gave you ample opportunity to tour the development and see how closely many of the front doors were spaced together? I'm assuming they provided you with a plot map of your lot, which shows just how closely the neighboring homes are spaced. The disclosures they provided you probably also talked about yard easements and what part of your yard can be used by your neighbor. Nowadays, any new development has very closely spaced houses because land is very expensive and this arrangement yields maximum profit for the developer - it's unusual to have a large yard, unless you're paying a huge premium or you're in a less desirable part of the Bay Area.
I'm surprised that you are so concerned about your front door being near your neighbor's. Perhaps there is something else about the home that you don't like? Assuming you drive a car, remember you'll be entering through the garage entry door, so I would think that people would rarely use the front door, if at all. It seems like the front doors are mostly for guests to enter or if you happen to want to go for a walk.
Anyway, good luck, and please let everyone know how it turns out and what you decide!
KB homes in Fremont!
I always suggest buyers, even if you are buying a new home, a KB home in Fremont or any other
large builder's home, take a licensed Real Estate professional with them to make sure some one
is on their side and looking into their interest first.
I am glad that you brought this issue of deposit refund on Trulia platform, that ways you get other
In your contract (with KB builder's), please see that there is a clause for removal of contingency time. If you have removed all contingencies in writing, your chances are very slim to get your deposit refunded. I would recommend as other professionals did, that have a Real Estate attorney review your contract and see if he/she can find any outs for you.
You can also ask the builder and see if they agree to substitute buyers if you find another buyers for them. And if not all, at least refund 50% of your deposit. That way's builder can make 1.5% deposit profit.
You can think of going ahead and close this escrow, holding this property as an investment until property value goes up and sale it at a later date.
Good luck to you,
The proper course of action is to take your contract to an attorney and ask them how to get you out of the contract. The sales people who are managing your contract are not agents for you but employees for the company. Claiming the deposit is (generally) to cure damages resulting from a contract breach and an attorney can tell you how close to that standard the builder comes.
The process for having your deposit returned, and the conditions or events that must be present for this to occur, will be located in the contract that you signed. You can certainly review this yourself. If you are still not clear, you will need to speak with a RE lawyer about other options. My experience in these situations, notwithstanding a liberal deposit reimbursement policy (which I doubt with a builder of this size), your deposit will not be returned unless you can identify a material fact that breaches the contract, is misrepresentation, or outright fraud.
While your motivations for cancellation may simply be due to the close proximity of your neighbors, it may help to take an unemotional look at the economics of your current situation. Namely, assuming you have no recourse concerning your money, does it make more economic sense to walk away from your deposit and look for another home, or take possession of the home and then sell? Through this exercise you will be able to fashion an exit strategy.
If you are interested in another new home once your money is returned, you walk away, or take possession and sell; a review of the following document will keep you out of a similar situation the next time: http://docs.Steven-Anthony.com/BuilderRealtorAgent.pdf
First of all, let me say that none of us are attorneys, nor can we give legal advice. And that's what you need:the advice of an attorney. I'm presuming that you were not represented by a buyer agent, just the developer. If that is the case, there is an inherent conflict between their best interest and yours. You need someone to advocate on your behalf. In most cases, a simple letter from your family attorney will get you the result you want.
Best of luck,
Blogging at: http://TheBremnerGroup.com/blog
Contact a lawyer but before you do that...
You really need to read your contract. We cannot answer without all the details. Did you sign off on all your contingencies? That is first and foremost. If you did not, you may have a way out.
Really try going in and talking to them nicely, not angry. Let know, this did not meet your expectations and if all the other models are sold, then they should have not problem re-selling this one. Let them know you do not want to have to contact a lawyer to resolve this but if you have to you wil (NICELY). It is alway easier to resolve without escalation for everyone if it is possible.
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