Home Buying in 78665>Question Details

Stress Out F…, Home Buyer in 78665

I purchase a new house with understanding it will be ready by end of August. It's not building. What can I do?

Asked by Stress Out First Time Home Buyer, 78665 Sun Jun 24, 2012

We put down our deposit to secure the land with the understanding it will be completed by August. When we sign the agreement, there is no date in the contract but was assured by the sales counselor it be be build in 4months. We are now told there's a shortage of labour to build our house but Wilshire's other home sites is fully building. We are out of house by end Aug and the sales is not willing to give us a timeline and we cannot get back our earnest money if we walk away as we feel we were being miss lead into the purchase

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Sam Gabilagon’s answer
Please remember, the sales contract that you signed was written by the Builder's lawyer. It is a one sided contract that benefits the builder alone. That is just the way it is with new home builder. If you even mention that you wanted to use the the TREC (Texas Real Estate Commission)or TAR (Texas Association of REALTORS) contract - they will tell you to just not buy their house. It is wrong, but that is the way they do business. Been through it ...

I suggest you look for a short term rental and keep an eye on the building process. Check back (or have your agent) check back and get an update of the process in a regular basis.

Best OF Luck,

Sam Gabilagon
BROKER | RSVP REALTY ONE
Phone: 512-887-2595
http://www.rsvpaustinhomesearch.com
0 votes Thank Flag Link Sun Sep 2, 2012
I can't comment on your new build, but I can tell you that the Teravista Apartments in Round Rock do short term rentals for as little as two months and they are very nice apartments. If you have a contract to build, you might be able to take that to the school district and request that your children be allowed to stay in their school until it is completed.
0 votes Thank Flag Link Sun Jun 24, 2012
ah.. thank you! Its nice to know that I can do that..
Flag Sun Jun 24, 2012
Thank you all for the advice.

I have a realtor but she had not been responsive. She had been asking us to continue with The builder and took 2 days before returning our call when we are for help on the discussion for our lease.

We end up having to do the discussion with the leasing agent and the leasing agent for the house we are staying is not willing to do a short term rental and we need to be moving out for sure. :(

Will try to ask again if she can help to get a firmer date..

Am praying hard this will not impact my sons schooling as from the sound of it we would need to move to a place where it's out off the schooling distrct :(
0 votes Thank Flag Link Sun Jun 24, 2012
Best of luck. If you are stuck for just a few days, Extended Stay has done well for many of my clients.
Flag Sun Jun 24, 2012
Hello,
I also suggest that if you didn't have a Realtor representing your interest in this purchase, you want to check with a Lawyer.
Has this builder sold other homes in the community that you know buyers moved in already? Another way will be to escalate your legit concerns to the builder area Manger or Regional Manager.

Project and plan to extend your stay for 4 more months, if you get positive answers in writing from the builders at this point and have a lawyer review it.
0 votes Thank Flag Link Sun Jun 24, 2012
Since I still see no mention of having used a Realtor to help with the purchase, I assume you went in without one to purchase the home. If this is correct, am I also to assume that you used the builder's lender? If so, you probably won't get any help on that end. If you still want the house, I recommend as Gabriella has said to hire a lawyer and escalate it with the area manager. I know from recent conversations with their sales rep in Teravista that the construction supervisor in charge of building their model quit right before they were done with the house and you can see it plainly on the wine closet doors. Will they sacrifice a contractor from another community to finish your house, probably not. If you don't have it in writing that they would finish your house by August, there is nothing enforcible in the state of Texas for you to fall back on in terms of deadlines. Sales reps have no requirement to be honest or fair when they sell you a house.
Flag Sun Jun 24, 2012
There were initial building in sonoma area - around the corner from where i bought my house. They have other site that is building as well. When we started follow up in May that's where the sales counselor came back indicating a shortage of builder. We went to their Paloma Lake site and we see full building speed in which it does not seem to suggest there is a shortage at all. Am pretty sure some slot didn't have the sold sign setup before ours back in April.

We have called and left voice mail, try to meet up in person to no avail. I wrote emails with the last one almost pleeing and the sales counselor is not willing to reply with a date.
Flag Sun Jun 24, 2012
Hopefully you had a buyer broker who you should ask and guide you. If not you will want a lawyer to review your contract to see if they ar ein violation and how you can get out of it without penalty to you.
0 votes Thank Flag Link Sun Jun 24, 2012
New construction/builder contracts in the Austin area rarely have actual hard construction deadlines and verbal promises from sales counselors do not stand up in court.

You can occasionally find short term house rentals in the Austin area. Storage and extended stay may also be an option.

If you are renting, you can ask your landlord to extend. If you have sold your home, you can ask the buyers if you can lease back for awhile.
0 votes Thank Flag Link Sun Jun 24, 2012
Builder contracts are heavily weighted to the benefit of the builder. Did you use a Realtor to help you with your purchase? If so, what does your Realtor recommend. If you didn't use a Realtor, I would contact an attorney to review your contract and advise you on what your legal rights are.

Good luck,
Gina Nyland
REALTOR, GRI, e-pro
Home Buyer Specialist
The Nyland Team
Prudential Texas Realty
0 votes Thank Flag Link Sun Jun 24, 2012
Dear Stressed Out,
Did you use a Realtor to help you purchase this new home? Your Realtor should be able to talk to the sales counselor about the timeline and also find you some temporary housing while your house is being built if it does go past the August deadline. Are you selling your existing home or are you currently in a rental? Maybe there is opportunity there to stay put and lease back your current housing for an extra month or two.
The sales counselor ought to be able to give you some sort of updated timeline, but unfortunately in new construction a lot of factors can play into upsetting a closing date, and labor shortage is one, as well as weather, supplies,city inspectors, or permits.
If you did not use a Realtor to purchase this home, you might also talk to your mortgage lender, who is in contact with the sales counseor, and maybe they can get an answer for you.
If you have any other questions, I am happy to help.
Thanks,
Leigh Hilliard
Keller Williams Realty
0 votes Thank Flag Link Sun Jun 24, 2012
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