Home Buying in Austin>Question Details

Kris, Home Buyer in Austin, TX

has anyone had any bad experiences with steiner ranch or more specificly mercedes home builders?

Asked by Kris, Austin, TX Fri Nov 16, 2007

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Mercedes is typically a pretty good builder with a good reputation, but of course there can always be exceptions and as mentioned in other postings sometimes it is not just the company itself that causes the good or bad quality, but the individual builder and the subs on the job. If you catch them in the winter when they're only building a handful of houses you might get better quality than if you catch them in the summer and have a ton all at same time and stretched thin. Are you having a problem?
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1 vote Thank Flag Link Fri Nov 16, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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This post is not directed at any one builder like Mercedes. But is more of a “watch-out” for anyone using production builder.

Most of the production builders tend to do the following:

1) Charging more than 1% earnest money. I'm doing a loan right now for a client who was charged 20K by his builder on a 200K house. Then the "in-house" lender couldn't do the loan. But the builder is still holding him liable for the contract -or he's out his 20K!
2) Forcing the buyer to use their “in-house" lender and offering loans that aren't really good loans. I mean, the builder and the mortgage company are working for the builder not the buyer. For example, if the 30 year fixed rates are 6% why do the in-house lenders need to "buy the rate down" with excessive discount points--then still offer a 6% rate?

Highland Homes is a good production builder.
0 votes Thank Flag Link Mon Dec 3, 2007
Mercedes is a well-known builder in this area and Steiner Ranch is one of the more popular neighborhoods. Almost every transaction has a few "bumps" and if you are having a to-be-built home, there will definitely be things that arise as the construction process moves forward. Do you have a Realtor representing you in this transaction? If so, they should be on top of whatever your problems may be. If not, maybe we can offer you some advice. What type of problem are you having?
0 votes Thank Flag Link Tue Nov 27, 2007
Kris, What type of "problem" are you having?
0 votes Thank Flag Link Mon Nov 19, 2007
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