A Muniz, Home Buyer in Pearland, TX

I am purchasing a new model home in Pearland and the appraisal came back $20,000 less than purchase price.

Asked by A Muniz, Pearland, TX Sun Jan 20, 2008

Now the builder does not want to give me the down payment/closing cost that we agreed on. What should I do?

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Danny Frank, Agent, Alvin, TX
Thu Feb 26, 2009
My first question is; Where you working with a Realtor®.? Because that should have never happened in the 1st place... What is the builder doing now? Have you been able to work things out?
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Shahriar, Home Buyer, Houston, TX
Sun Feb 22, 2009
Can you let all of us know who is the builder so we can stay out of that builder. I am looking for a house as well in that area.
0 votes
Jenifer Dugu…, Agent, Pearland, TX
Mon Apr 21, 2008
The response from the first agent is true, however, I would try to re-nogiate your sales price to reflect the current appraisal. Based on your loan your lender may not approve the sale, therefore, not eligible to purchase the home and you should have an out. If you are working with a Realtor, they will help you through this process.
0 votes
Thomas Johns…, , Houston, TX
Thu Mar 6, 2008
Read your contract to see what your options are. If you have a normal builder purchase contract, you have a financing contingency, and you can get your deposit back and find something at market value.
Web Reference:  http://www.ERASold4Sure.com
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