Home Buying in 77479>Question Details

jgurunathan, Home Buyer in Houston, TX

If a price of structural option on the signed contract was incorrect, who has to eat the cost if the option price is higher?

Asked by jgurunathan, Houston, TX Thu Apr 18, 2013

Legally is the Home Builder bound as well to the contract to provide me the option at the cost that was stated in the contract that was signed?
My concern is trust now, could they keep changing the prices on a signed contract throughout the process till closing?

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Answers

2
If you signed the contract with the stipulated price for that specific option and they are trying to make a change I would consult an attorney or threaten to do so and see if they back down. They probably will. Builders will hold you for what is called specific performance on your end so you need to do the same and ensure that they perform on their end. This is where an agent representing your best interests would be helpful. You don't pay a penny more when you buy a new build home and use an agent but we sure do help keep the transaction running smoothly and are always on your side representing your best interests... where the builder is essentially running the show now and just looking out for theirs. Consult an attorney. Good luck to you.

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0 votes Thank Flag Link Thu Apr 18, 2013
That's why they make Lawyers and Courts.
At least now you've got your radar set on HIGH!
0 votes Thank Flag Link Thu Apr 18, 2013
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