My question is what happens if your home looses value during the building process… what price do you end up paying the contracted value or the current value of the home.
It depends on the builder. I have this happened to a friend back in 2007 and the builder said they had to close or they would Sue the buyer. You might want to check with the builder on this period it is hard for me to answer this question peris this question. I have never had this happen to me or one of my clients. If if it does not appraise it could be a lending issue and you can get out of the contract. I would ask the builder and your lender.
Lance you are so awesome for making all these videos. We defiantly want to work with you when its time. We are moving this coming year 2021 to the Tampa area. We will need to rent for a while, because we wanna save money and have a home built by "Homes by Westbay." So we look forward to working with you in the future. I hope you'll be available when we move.
Hi , we did same mistake ,we signed contract and now design center is way out of budget ,they didn’t let us go to design center before .now I want to back out of contract for this reason and builder is not allowing and threatening of sue.do you have suggestion ?
Great info as usual! I have a question, What can one do if you are scheduled to be out the country for a week in the same month where you're projected to close?
My question is what happens if your home looses value during the building process… what price do you end up paying the contracted value or the current value of the home.
It depends on the builder. I have this happened to a friend back in 2007 and the builder said they had to close or they would Sue the buyer. You might want to check with the builder on this period it is hard for me to answer this question peris this question. I have never had this happen to me or one of my clients. If if it does not appraise it could be a lending issue and you can get out of the contract. I would ask the builder and your lender.
Hi Lance , if a new constructed home is ready to move in do I use just the regular purchase contract and the new construction disclosoure?
I have never done that. All new home builders will have their own contract. You should ask them for their contract. Thank you for watching the video.
Thank you for a great explanation
Thanks for explaining
Great video Lance!
I wish you were in Massachusetts love your videos
Lance you are so awesome for making all these videos. We defiantly want to work with you when its time. We are moving this coming year 2021 to the Tampa area. We will need to rent for a while, because we wanna save money and have a home built by "Homes by Westbay." So we look forward to working with you in the future. I hope you'll be available when we move.
Why is corner lot tend to be the last to sell from developer?
Hi , we did same mistake ,we signed contract and now design center is way out of budget ,they didn’t let us go to design center before .now I want to back out of contract for this reason and builder is not allowing and threatening of sue.do you have suggestion ?
There is no "i" in Realtor.
I know that. My accent has been coming out that way my whole life. I am trying to change it. Sorry. Thank you for watching my video.
Great info as usual! I have a question, What can one do if you are scheduled to be out the country for a week in the same month where you're projected to close?
Can a contract be canceled after signing? If so how long do you have before being penalized?
I hit thumbs down but I fat fingered that one. Sorry for that! Anyway good info. Helped me out BIG time.
Yes sir, be very careful at the design center