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All Locations : Nationwide Real Estate Advice

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A moment ago
richard foster asked:
I was just writing about this and my computer recycled so I will complete my Question. Initially my note in 2007 was financed with American Home Mortgage Company. Dautche Bank was the owner…
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A few minutes ago
Kathy Burgreen answered:
As a retired realtor, allow me to educate you on builder contracts (since I'm no longer in real estate I will tell you the truth). Builder contracts are written by lawyers to benefit them. The contracts are not the same contracts used by realtors that are state authorized. Therefore, buyers who sign a contract for new construction must do their due diligence and either read it very carefully or take it to their attorney to review and edit it. It was your responsibility to read and edit the contract before signing it.

Builder contracts will typically include a clause that states the date of completion is at the builder's discretion. This means the builder can "lie" or tell the buyer an APPROXIMATE date for completion BUT if that date / month is NOT stated in writing on the contract itself - it is meaningless because anything that is not specifically stated in writing on the contract does NOT count. It will not hold up in court.

Another issue that is typical with builder contracts - upgrades / changes. All upgrades and changes must be spelled out in the contract. In your situation, the builder can say anything they want to please you BUT if it is not spelled out in writing on the contract, it's meaningless. As for the blueprints, number of bedrooms, bathtub size, etc., is all of this spelled out in your contract? If not, the builder does NOT have to do anything you want. which is why you are stuck with what you have.

Remember, all a builder has to do in court is say "This is the contract you signed and it does NOT state any of the things the buyer is requesting. Therefore, it's not my problem to fix it." Builders can and will make the changes you want BUT it will cost you extra. Yes, you will need to pay for it. This is why it's critical to review the contract before signing it. Typically, buyers who have their own realtor accompany them on their very first visit will negotiate with the builder to have any changes, upgrades, etc. done for free or at a reduced price. Unfortunately, it looks like if you want changes in writing on your contract, you will end up paying full price for it.

What I notice with many buyers is they look for quality and want a builder who delivers quality work. However, what is more important is the contract itself - not the quality of work as you are now observing. FYI - Don't expect any customer service issues to be taken care of either. The builder's contract has a clause - once you move in, anything that is wrong with your home is YOUR responsibility. The warranty that builders try to sell you is carefully worded to exclude a lot of things that are important to buyers. I used to sell warranties so I know they are garbage in most cases.
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A few minutes ago
Keycreditrepair answered:
You possibly have an unfavorable access like a late payment.
A person with a credit score of 661 will possibly have the ability to obtain a loan, however, pay a greater rate of interest as well as with worse terms as compared to somebody with a greater credit rating. ... more
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A few hours ago
Dalbeattiefinance answered:
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... more
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A few hours ago
Washingtonprivateloanfirm answered:
We are offering a first class loan to loan all loan Seekers. Do you need a loan? contact today for a loan. We offer different kinds of loan to individuals €1,000 to €900,000,000 with an rate of 3%. Contact us today if you need a loan. ... more
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A few hours ago
Singhtina801 answered:
For this question, I think you have to take tips from real estate professional or any agents.
Real estate in Nagpur will definitely help you.
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A few hours ago
sheryl hellyer asked:
pet deposit was not asked for at time of lease signing. I put on my application that I had a pet. 1 day after paying deposit and rent she asked if I had pets and told me I had to pay $300…
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A few hours ago
John Stenner asked:
After the inspection we noticed it was missing like 5 jets ( about $89 each) asked the owner if they would take care of it and said no....my question is since it was in the description of…
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A few hours ago
Riddle.me.this311 asked:
Our loan officer told us that we need to have 12 months of car insurance to give to her. We have 8 going on 9. Will that affect our RD loan? We are first-time home buyers.
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A few hours ago
Carolinesydney411 answered:
Hello, My name is Caroline and I live in West Houston. In the month of August, I lost my home because of the flood. I am currently staying with some family friends in West Virginia which i am not really comfortable with because I love privacy in a large space. I tried applying for a loan last month so I could get a bigger apartment for myself. All along, I thought I had a clean record only to find out that I had an initial eviction and some other negatives with a very low score of 415 which prevented me from getting the loan I seeked. I found CYBERCOM services online. I really appreciate meeting him. He helped me increase my score to a high 789 and all the negative items on my report were removed. I got everything I required and even more. As i speak, I now qualify for almost anything. I'm now at the brim of getting a very big home. I want to fulfill my promise to him for such a discreet delivery in a relatively short time and at an affordable price. So here I am recommending CYBERCOM@TECHIE.COM; (619)6203232.. For a similar result on your credit, I think its best you mail the team and be ever grateful you did. ... more
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Yesterday at 10:39pm
Olgazuleyma-1229 asked:
How can I get out of this contract, would I have to compensate the broker even if the deal doesn't go with FSBO it mentions buyer agrees to work exclusively with broker, now what happens…
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Yesterday at 10:13pm
Jonathan Lahey answered:
Your question has been answered! I hope that you have found a Catholic Church near your area.
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Yesterday at 9:52pm
Kalt.9942 answered:
Everywhere in Virginia Beach you are going to hear the jets. It's a military area, so you're going to hear it all the time.
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Yesterday at 8:33pm
Faas.jimmy67 answered:
Based on the answers from all of the realtors here, it IS VERY OBVIOUS to me that they realtors are not placing many of their clients offers. And why should they? The higher they can drive up the offer, the more commission they make. If you don't believe that, just take a look at the California heyday the realtors are having right now. No regulation, shady lone deals and no requirement to keep records of offers that their clients make or receive. The disaster of 2006-2008 was a huge windfall for the realtors and lenders, (just follow the PMI trail after a home owner gets foreclosed on WOW, everybody makes out like a fat cat, except the homeowner of course). Wake up America, stop falling for the smoke and mirrors. Oh, and by the way, I think the question was a very legitimate one, that MUST be answered and answered NOW. ... more
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