Asked by Sean Breckley, 19087 • Tue Feb 10, 2009
My wife and I found a Spec Home which we love. The home is 100% complete. We made a verbal offer on the house, but there are a couple things I don't understand:
- The builder wants us to fill-out a financial sheet along with a Sales Agreement. If we are working with our own Mortgage Company, why would they want this?
- The builder wants a 10% deposit up front, when we sign the Sales Agreement. As this Spec Home is 100% complete, is there some specific reason why they would need this? We would plan on settling within 60-90 days, and there are no 'extras' or 'add-ins' we have asked for. Also, what if we did not want to put 10% down on the house when settling? (seems to be a bit odd)
Thank you for your help in advance - We're meeting with our Accountant and a Mortgage Company later this week, but wanted to see if someone had experience with the above, and could explain a bit...
Real Estate in Wayne
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