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Terramor. We were told they would list for one day and we could bid on it within that time period. They got our offer, which was list price and they decided last minute to leave it on the MLS for over a week. We negotiated 2 months ahead of time with the builder that we wanted this home and they assured us that it would only be posted for a few hours on the MLS. They lied.
I cannot thank you enough for this video. Every bit of what you said is true. Something is clearly wrong when a builder has every agent under the same roof. A red flag is heightened when the builders stand behind the value of their homes but refuse or avoid an inspection. I have 1 piece of advice for people in the market for new construction and it works because i do it all the time. When you find a community that you want to live in park your car in and just walk thru the community BEFORE you go to the office. Walk and just stop by and knock on a few doors politely introducing yourself or talk to people that are outside and act as if you just moved in or that you are looking to buy and strike up a conversation about being told the builder is untrustworthy and trust me you will be surprised at what you hear firsthand. People will either rave because they are happy or people will sit and give you nightmare testimonials of their experience. People have even told me to steer clear and show their shady contracts. It works!!!!!!!!! I love where i stay and adore it but the walk and talk method works.
I wish I could walk up to people houses to ask them of their experience. That's a good idea. Thing is ppl are crazy. I might end up getting shot 😩. But if I saw someone walking or already outside than I would ask.
You are absolutely correct. I did this in 2019 in a lovely neighborhood in Durham one side had Lennar homes and across the street were Drees homes. Nothing but horror stories for people living in over 500k homes -- couples showed me where the homes were sinking, other showed me shoddy work and I personally walked through a Lennar home that I was interested in purchasing about 5 or 8 times and saw a lot of shoddy work for myself.
Yes, Eastwood homes canceled my contract after 60 days because the developer didnt get the lot registered and they offered me the same home but at the market price. Smdh. That means atleast a 50K increase then what my I originally went under contract for. This 60 day period damn near priced me out the market because we all know this market is hot. So yes, Beware!!!!
Also, those upgrades will get you. Have a plan before you to thr design center and start off getting what you need. We spent about 17K in upgrades. A big chunk of that was adding the screened in deck.
Can you address the Good Faith Deposit how it has gone up and how it works as far as under what situations you can get it back vs how you can lose it. Also how much is the standard amount home buyers are having to put in these days.
It really depends on the builder. There is not set amount or conditions under which you get your money back and when. Def something you would want to discuss with the Builder or Builder representative as soon as you put that builder on your "maybe" list.
You cannot even rely on the reviews at this point. I am currently in multiple construction disputes with a builder that has great Google reviews. It has been nothing short of a nightmare.
If it's early enough in construction you would want to get a pre drywall inspection and then certainly a pre-closing inspection. I am a former custom home builder but have been a licensed home inspector now for 13 years doing mostly new construction inspections
@@johnhagan2516 They haven't broken ground yet. I know they want us to come down for the pre drywall construction later this year. I will hire an inspector as I am not a builder!
Builder i talked to claimed they didn’t want to show me the demo house and would only show me pics due to COVID after already having an appointment to see in person (in 2021 this was 2 weeks ago). i bet the foreign material or something you said was present they said i needed to sign or get put on a waitlist for 2022…… hard pass.
Yep. Unfortunately, sometimes they write shady stuff into their contracts, and the unrepresented buyer doesn't know what they are signing or out of desperation in this crazy market feel they have to sign it or lose the chance at a house.
I wish there was an option to buy from a builder without an agent and just pocket the cash. 99% of the time an agent is not worth their fee when buying a new construction.
Sounds like you’ve dealt with bad agents. An experienced agent is absolutely worth having for so many reasons, several of them highlighted in this video. Some builders may make you think you’re getting that money to pocket, but they are getting it back one way or another.
Having your own agent is invaluable when buying new construction. When our house couldn't be built on our first lot pick (due to builder's mistake), our agent negotiated for us to get a different, premium lot for the same price.
A buyer's agent literally costs the buyer nothing. Their fee is paid by the seller. It is invaluable to have an expert negotiating on your behalf. The only time you don't need a buyer's agent is when you are a real estate professional yourself.
Raleigh has the worst built houses I've ever seen. The workmanship is horrible. Walls are so out of square that you can't fit standard fixtures and mirrors. They can't use hardwood trim because no one knows how to miter correctly here. Contractors install lots of fake architectural details to make the house look good and cover up for poor construction technique. Houses rot to pieces for lack of proper air and moisture sealing. I was in a quarter of a million dollar house where you could see daylight through the electrical boxes
We always advise getting a home inspection prior to finalizing a sale. Including new construction. In fact, with new construction, it is advisable to get a structural inspection (prior to drywall stage) and a general inspection just before closing. Also, it's recommended you steer clear of the bad builders. Just look at reviews online of people with similar problems to yours and you will see who you need to avoid. Thanks for your comments-- it will definitely help other people.
If you are smart investor DONT BUY now. Rather rent. My brother had bought a single family in Raleigh a year ago for 450k guess what the price is today its $600k. Thats insane, dont pay over 450k in raleigh, rather stay in virginia, MD, MA.
People have been saying that for a couple years and now they regret it after throwing away money to rent for a couple years and missing out on 20-40% appreciation. There is a reason investors are so active right now in this market.
Have you had an experience with a bad builder? Share below! If you need our help buying or selling a home, please click here to take our short questionnaire!
👉 bit.ly/LivinginRaleighTVQuestionnaire 👈
Terramor. We were told they would list for one day and we could bid on it within that time period. They got our offer, which was list price and they decided last minute to leave it on the MLS for over a week. We negotiated 2 months ahead of time with the builder that we wanted this home and they assured us that it would only be posted for a few hours on the MLS. They lied.
Terramor is terrible.
I cannot thank you enough for this video. Every bit of what you said is true. Something is clearly wrong when a builder has every agent under the same roof. A red flag is heightened when the builders stand behind the value of their homes but refuse or avoid an inspection. I have 1 piece of advice for people in the market for new construction and it works because i do it all the time. When you find a community that you want to live in park your car in and just walk thru the community BEFORE you go to the office. Walk and just stop by and knock on a few doors politely introducing yourself or talk to people that are outside and act as if you just moved in or that you are looking to buy and strike up a conversation about being told the builder is untrustworthy and trust me you will be surprised at what you hear firsthand. People will either rave because they are happy or people will sit and give you nightmare testimonials of their experience. People have even told me to steer clear and show their shady contracts. It works!!!!!!!!! I love where i stay and adore it but the walk and talk method works.
Glad you liked our video. Thank you for watching and thank you for sharing your experiences and ideas!
I wish I could walk up to people houses to ask them of their experience. That's a good idea. Thing is ppl are crazy. I might end up getting shot 😩. But if I saw someone walking or already outside than I would ask.
Or you can go to the local police precinct and ask questions about the neighborhood you’re interested in.
You are absolutely correct. I did this in 2019 in a lovely neighborhood in Durham one side had Lennar homes and across the street were Drees homes. Nothing but horror stories for people living in over 500k homes -- couples showed me where the homes were sinking, other showed me shoddy work and I personally walked through a Lennar home that I was interested in purchasing about 5 or 8 times and saw a lot of shoddy work for myself.
As a former custom homebuilder and now a licensed time inspector, you are spot on. I'm seeing more and more mistakes from the big builders.
Thank you. Yes, some of them are getting really bad.
Yes, Eastwood homes canceled my contract after 60 days because the developer didnt get the lot registered and they offered me the same home but at the market price. Smdh. That means atleast a 50K increase then what my I originally went under contract for. This 60 day period damn near priced me out the market because we all know this market is hot. So yes, Beware!!!!
Also, those upgrades will get you. Have a plan before you to thr design center and start off getting what you need. We spent about 17K in upgrades. A big chunk of that was adding the screened in deck.
I’m a realtor from Florida, and this is happening down here too! Great content my friend!
Not surprised! Thank you very much!
You are right 👍
I feel you are a good realtor.Specially for buyers who are going to buynew house.like me.
Thank you. Really appreciate the comment.
Thank you for exposing all of these tricks and deceptions that are putting people in terrible situations; such valuable information, and so needed.👍👍
Glad it was helpful!
Can you address the Good Faith Deposit how it has gone up and how it works as far as under what situations you can get it back vs how you can lose it. Also how much is the standard amount home buyers are having to put in these days.
It really depends on the builder. There is not set amount or conditions under which you get your money back and when. Def something you would want to discuss with the Builder or Builder representative as soon as you put that builder on your "maybe" list.
This is an incredibly important video. Thank you, Chris!!!
You’re welcome! Thx for watching
You cannot even rely on the reviews at this point. I am currently in multiple construction disputes with a builder that has great Google reviews. It has been nothing short of a nightmare.
Sorry to hear that. Reviews help people see trends, but you never know for sure.
Nice pointers ! Thanks
Sure!
Yet another great video!
Thank you!
What is third parth warranty in new homes.
At what point do you get an inspection?
If it's early enough in construction you would want to get a pre drywall inspection and then certainly a pre-closing inspection. I am a former custom home builder but have been a licensed home inspector now for 13 years doing mostly new construction inspections
@@johnhagan2516 They haven't broken ground yet. I know they want us to come down for the pre drywall construction later this year. I will hire an inspector as I am not a builder!
John Hagan: Agreed!
MTEBOR: Great idea!
How much i need 3/2 bedrooms and two garage cars house in a good area.
Depends, in a more rural area that could be 250K to up to 600K in more urban areas. Average for a 3 bedroom is around $300-450K.
Recommend having a qualified real estate attorney review agreements prior to offer.
True ! My face is for radio but I love what content you share ...
Thank you!
Name names! Good video though
Thank you! We are considering that.
Yes, please add the names of these builders.
Builder i talked to claimed they didn’t want to show me the demo house and would only show me pics due to COVID after already having an appointment to see in person (in 2021 this was 2 weeks ago). i bet the foreign material or something you said was present they said i needed to sign or get put on a waitlist for 2022…… hard pass.
Wow! Where was this?
@@LivinginRaleighTV new construction down in Garner. Townhomes in the 250+ range.
Interesting. Do you remember which builder?
@@LivinginRaleighTV It was “White Oak by Pulte homes”
What about if you get a real estate lawyer instead of a realtor?
In North Carolina, real estate lawyers don’t represent you in that way. They would only help you with the contract.
@@LivinginRaleighTV ok thank you so much for responding. Great informative content.
Happy to help!
200k upgrades on a 150k house??? Where are you finding houses under 250k?
That was a joke, you won’t find new construction for that. Sorry for the confusion!
I would have the builder in litigation at that point. A contract is a contract
Just what I was thinking.
Yep. Unfortunately, sometimes they write shady stuff into their contracts, and the unrepresented buyer doesn't know what they are signing or out of desperation in this crazy market feel they have to sign it or lose the chance at a house.
Most builders are crooks. Its a cash grab. And 9 out of 10 contractors and sub contractors are incompetent and crooked as well.
Some are, but we have some VERY honest and reputable builders in the Raleigh area.
Where's the new Costco (mentioned in the video) going?
On 401 somewhere near Wake Tech. There is a sign.
It's being built on Ten-Ten Rd behind the Walgreens & Sheetz store on 401
I wish there was an option to buy from a builder without an agent and just pocket the cash. 99% of the time an agent is not worth their fee when buying a new construction.
Sounds like you’ve dealt with bad agents. An experienced agent is absolutely worth having for so many reasons, several of them highlighted in this video. Some builders may make you think you’re getting that money to pocket, but they are getting it back one way or another.
Having your own agent is invaluable when buying new construction. When our house couldn't be built on our first lot pick (due to builder's mistake), our agent negotiated for us to get a different, premium lot for the same price.
I disagree. Having an agent sometimes is like going to a credit repair agent. You can do ALL of this yourself. IYKYK
A buyer's agent literally costs the buyer nothing. Their fee is paid by the seller. It is invaluable to have an expert negotiating on your behalf. The only time you don't need a buyer's agent is when you are a real estate professional yourself.
@@Jeff-gd8ev that's false. On average, it cost 3% which is baked into the purchase price.
Hi from raleigh
Hi!
Hi from Raleigh NC.I rent,I am blessed.I pay $525 for a studio everything included near NC STATE.Raleigh is expensive for housing.
Happy you found a good place
@@LivinginRaleighTV Thank you
Hi Just want to know if you are also dealing with clients who 's only opt for rentals .
Raleigh has the worst built houses I've ever seen. The workmanship is horrible. Walls are so out of square that you can't fit standard fixtures and mirrors. They can't use hardwood trim because no one knows how to miter correctly here. Contractors install lots of fake architectural details to make the house look good and cover up for poor construction technique. Houses rot to pieces for lack of proper air and moisture sealing. I was in a quarter of a million dollar house where you could see daylight through the electrical boxes
We always advise getting a home inspection prior to finalizing a sale. Including new construction. In fact, with new construction, it is advisable to get a structural inspection (prior to drywall stage) and a general inspection just before closing. Also, it's recommended you steer clear of the bad builders. Just look at reviews online of people with similar problems to yours and you will see who you need to avoid. Thanks for your comments-- it will definitely help other people.
You are right here frontierbuilder in ca.very bad houses use eveything cheap material.In my community nobody is happy.
Thanks for sharing
Doesn’t surprise me a bit. The service industry is so shady I trust any of them.
Most builders are great but there are a handful of bad ones to look out for.
If you are smart investor DONT BUY now. Rather rent. My brother had bought a single family in Raleigh a year ago for 450k guess what the price is today its $600k. Thats insane, dont pay over 450k in raleigh, rather stay in virginia, MD, MA.
People have been saying that for a couple years and now they regret it after throwing away money to rent for a couple years and missing out on 20-40% appreciation. There is a reason investors are so active right now in this market.