Negotiating New Construction (real estate, mortgage, appliances)
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I know the market is starting to bounce back a little. Has anyone had success negotiating on Upgrades for New Construction homes, particularly Eastwood Homes?
I know the market is starting to bounce back a little. Has anyone had success negotiating on Upgrades for New Construction homes, particularly Eastwood Homes?
If you are willing to walk, then anything is negotiable when it comes to real estate. There is one thing you can count on. If you don't ask for it, then you absolutely won't get it.
When I built my house I handed the builder a 28 page contract that made all sorts of changes. They accepted it. If I had not done this, I would have ended up with the stock house.
Don't worry about their emotions. This is nothing but a business transaction and like all business transactions you are trying to get the best deal for your money.
Your agent will be able to run comps for the neighborhood and see if the builder has been negotiating, and how much they are moving off of the price. Generally builders are more likely to negotiate on upgrades rather than on base price. Though I will say they are negotiating less now than they have been in the past few years. Supply and demand at work...
we just signed a contract last week. We were going after an inventory home and they already had it discounted 15k. When we sat down they did no move on price, but we did agree they would cover closing costs and all stainless steel kitchen appliances and washer/dryer. So I figure we got comp value of 6k.
We recently went under contract, the price was set in stone but upgrades and closing cost were able to be negotiated a little. I think it also depends on the community you are looking to build in. A couple that we are friends with also are building a home in a high demand area of Union County and they weren't able to get any wiggle room.
I agree with frewroad, if you don't ask you won't get anything
What kind of loan product (packages) is new construction offering now a days? What banks are they allied up with? I remember back on 2007 they were awful (cover up products hiding all sorts of bloat and rip off). For example get 10k off upgrades if you finance with us (but pay 3x for it within the loan lol).
We dealt with a few different builders as we were looking around. Most were offering $3000 towards closing if you used their lenders. The "upgrades" benefits weren't dependent on using their lenders. We looked at True Homes, Ryland, Ryan and Standard Pacific. From what I remember all but True had their own mortgage companies. True had some preferred banks that they worked with. I'm sure that $3000 is made up somewhere in the mortgage rate.
If you are willing to walk, then anything is negotiable when it comes to real estate. There is one thing you can count on. If you don't ask for it, then you absolutely won't get it.
When I built my house I handed the builder a 28 page contract that made all sorts of changes. They accepted it. If I had not done this, I would have ended up with the stock house.
Don't worry about their emotions. This is nothing but a business transaction and like all business transactions you are trying to get the best deal for your money.
But you neglected to say negotiating is "an acquired skill.". lol. OP came back with second post within 24 hours with "$1000"....not very much. I'm sure your 28 page doc yielded a lot more than a thousand bux.
One must go with the attitude that these dollars are not abstract but very real dollars that will be taken right from your pocket at closing. Don't be afraid to lose the deal if the numbers are not correct. Falling in love with a house is the biggest mistake ppl make because...the next one that comes along will be better.
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