Prudential Utah Real Estate
Yes I signed the contract on 6-th Feb when this law wasn't enforced & as many know there was a lot of confusion, to begin with it was $15K then $7.5K with repayment & I think much later in the month it was resolved to be $8k for buyers in 2009.
But the tiny clause of "who is deemed as a first-time home buyer" was overlooked.
Again, I have the proof of the settlement papers of my earlier home.
BTW, the penalty is $130 per day for delaying the close date, as per my contract.
I wish the builder understands my concern.
As of today, the builder is still unsure about the exact close date(but should be around 1-st week of July), as they are waiting for the contractors to provide a timeline (which would be 6-th of April). At that time, the builder can provide me the walk-thru / completion date and better assess the financial aspect (i.e. the cost per day etc.)
To answer some of the queries ...
1. this is not a foreclosure/short sale
2. My rate is not locked yet.
3. The builder has about 20 homes in his inventory (sold 120 homes since 3 years). They want wrap up before end of this summer (atleast sign the contracts). I cannot comment of the # of buyers.
4. I'd like to close on or after 12-Aug-2009
Tom Inglesby, Broker
RE/MAX equity group
Portland, Or 97239
Good luck, you are smart to buy now with prices low and all the incentives.
Krista DeWeerd, Towne Square Real Estate, Jenison, MI
Changing the closing date is something that is commonly done...for a number of reasons. Make your agent aware of your needs.
To doe this, it is necessary to change the terms of the contract by doing an "addendum." This is simply a signed statement that indicated that adjusting the closing date is agreeable to all parties involved.
Some contracts have penalties for closing late â€“ read yours carefully. And then ask. They may be very understanding and fully cooperate. If they donâ€™t â€¦ if there ever was a reason to have a Realtor represent you when buying from a builder, this would be a good one. All of this negotiation would be done by them on your behalf.