Home Buying in Fort Worth>Question Details

Dvansaders, Home Buyer in Fort Worth, TX

If the wrong brick has been placed on my house that is being built, then what is a reasonable credit?

Asked by Dvansaders, Fort Worth, TX Tue Apr 1, 2008

The house is approx. 4000 sq. feet and approx. priced 300K. The correct brick (which is totally different) is clearly listed (with no second choice) on the options addendum agreement. (the signed contract) Their offer is $5300 price reduction. Should I negotiate this?

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100% yes! They gave you $5300 to silence you. It is more than generous as Bruce points out, but since it is a new build and it's under 600k, then you are definitely in a position to ask for more! Why? Closed new home construction is slow across the country and builders are praying for their inventory to get off their books! Closing costs or buy down points on your loan would be a good start. Is there an appliance package? Ask for one if there is not! All this is inclusive of the price reduction they offered of course.
1 vote Thank Flag Link Wed Apr 2, 2008
How do you feel about the brick that was used? You should expect to get what you contracted for, but sometimes mistakes work out for the best. If you're satisfied with the way the house looks then I would negotiate the highest credit they are willing to give and count it as a blessing. If you won't be happy with the way your new house looks then I would ask your realtor to terminate the contract and request a release of Earnest Money. From what you say, you are in the driver's seat on this one. I hope you can reach a compromise with the builder.
1 vote Thank Flag Link Tue Apr 1, 2008
This is really individual to you and how you feel about the brick color. Is it one you like or one you hate. You could be in the house a long time to live in one with a color you don't like no matter how big the credit. If you like the color or it's just a bit off than $5300 sounds very generous to me. I always think you want to be fair with all concerned as it always could be you at the other end of the bargaining table, especially if the house is not finished yet. What if you find something you forgot before completion. If you push too hard now, they'll probably push back when it's your turn to ask for forgiveness.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Tue Apr 1, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
Where is your agent in regards to this entire situation. I am hopeful you used a real estate agent too purchase from the builder, we answer so many calls and emails where a buyer did not have a real estate agent to assist them in purchasing a home

I am sorry to hear what happened

Not knowing specifically what exactly was authored in the contract and etc. outside of your statement difficult to provide you correct professiona opinion

You need to get your real estate agent involved I would not close till I was happy $300K on a brick you are not happy with is waste of money
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Apr 1, 2008
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