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Old 07-21-2008, 11:24 AM
 
184 posts, read 933,438 times
Reputation: 80

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A friend of ours is building a house with a semi-custom builder. At the time they signed the contract the base price of that house was higher than it is today. The base price has gone down about $20k in recent months on ~ 500K house.

Should our friends demand the builder that they pass along the price reduction, since the house is still under construction?

They dont have a "price protection" clause in their contract but is there a legal argument to be made to the builder?

Thanks.
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Old 07-21-2008, 11:41 AM
 
Location: Austin, TX!!!!
3,765 posts, read 7,880,349 times
Reputation: 1756
First let me preface this with I am not licensed to practice law in TX.
Typically, if one signs a legally binding contract - he or she is bound. It doesn't matter if the price is lower for future purchasers. That said, if they are really considering trying to renegotiate they should speak with a TX real estate attorney. I think it is iffy to rely on anything you get off of this or any other site because you have no idea where the information is coming from.
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Old 07-21-2008, 07:11 PM
 
16 posts, read 40,779 times
Reputation: 11
Your bound to the agreement. You need to review the T's and C's for fees, payments, and other simiilar terms and conditions which may allow you to file for a price restructure. Review it again for these terms and for the proper process flow to file this grievance or get a one hour consultation with real estate attorney for assistance so you can manuever properly under Texas law.
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