When buying a new build home always remember that the builder's agent works for the builder. His job is to get you to pay as much as possible for the property because he makes more this way. Using a Realtor costs you nothing and gives you somebody on your side to fight for your best interests. I am assuming you did not have a Realtor representing you during the process.
At this point you should review your contracts carefully to see what you actually signed. Maybe there is a contingency and you may still have an out if that is what you want to do. If you do not have any outs you need to speak with the builder ASAP to rectify the situation as best as you can. At this point it could mean you have to lose your your earnest and/or deposit monies unfortunately.
I wish you the best of luck with your purchase and hope you can work things out to your liking.
REALTOR | Mortgage Broker | Consultant
Buy - Sell - Lease - Invest
Keller Williams Realty | 360 Lending Group
If you just signed the agreement and you're having some remorse, ask the sales rep to request that the builder release you from the agreement so you an move on. Some will let you out without hesitation. A disatisfied customer isn't worth the problems they'll encounter later on. But, how and if you are released from that contract depends on the terms of the contract you signed. If you don't understand them, then get with a lawyer for consultation. Time could be of the essence.
If you have an agent contact him/her and explain the situation. If you dont have an agent, I highly recommend you contact a real estate broker. On site builders reps represent the builder not you. You need to have representation, and its free. If you need help my information is below.
Real Estate BROKER - REALTOR - ALHS
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
You can reopen negotiations, but the builder has no obligation to change terms that were already agreed to. What if they wanted to reopen negotiations and raise the price and cancel some upgrades you requested? Chances are you would say no.
If you used the builderâ€™s agents, they represented the builder and had not obligation to suggest terms which weren't favorable to the builder. You can have an attorney review your contract and see if you can get out of it. If you can, you can request changes if you are prepared to walk away with a legal escape. If you really want to buy the place you started with, this may be tough. Best of luck.
They likely won't take a reduced price, but may be able to increase the price to allow you to roll in closing costs, as long as the house will appraise for the new sales price.