We are closing on a new house in about two weeks in a new community. Builder however has dropped prices on listed homes in order to get buyers. Can we get builder to lower the price of our house even though we've gone this far? What do we do?
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ANSWERS: 4
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If you made an offer and it was accepted, i am just guessing that is a binding contract, unless there were any stipulations/exceptions spelled out in the contract. In this current climate, i surely would ask a real estate attorney in your area.
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just ask the builder, skip the real estate lawyer and save three hundred dollars. ....probably not, as it is an introductory sale price to get more business. maybe he would install a back deck for nothing, or install an outdoor shower.
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if you havn't closed yet, as in you still have final contracts to sign, you should be able to renogiate, but you will probalby still have to pay all fees to agents for first agreement also, this might actually raise the overall price. I would suggest you talk to agent and developer first before you procede.
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Everything is negotiable. Remind the builder that you can still back out of closing and surrender your earnest money. If he is like most builders in this market (many are already in bankruptcy or dangerously close), he may chop a few thousand off his "best price". On the other hand, who is to say that you haven't already been given his best possible price, in which case, he may call your bluff. It is possible that a couple thousand dollars in earnest money is more profit that he is making on the house. (This is especially true on high-end homes right now.)
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