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We are looking to build a new home with True Homes in the Charlotte, Kannapolis, Concord, NC area. I've been reading different things about rather or not True Homes will throw in any upgrade options or negotiate the payment of additional Seller Paid Closing Cost that could be applied towards any of the Buyers expense at closing. (i.e. loan origination fees, pre-paid expenses, discount points, or any other amount paid to reduce the buyers Mortgage rate.
Has anyone had any luck with being able to negotiate with the Charlotte area True Homes in today's market? The True Homes Agent is saying that they won't budge on anything. I'm wondering if the amount the builder contributes affects his (the True Homes Agent) commission in some way or if they really don't have any negotiating room. Or if the negotiating or upgrade incentives or thrown in when purchasing a certain price range of home.
Additional Info:
I do have a Realtor. She doesn't seem to be much help. Her answer to every question is "You have to think of it as you're asking them for $5000!" or "You would be asking them for $10,000!" "That's not how this works." When considering an existing home- "This house is listed at this price and has been sitting for 3 months, but the asking price isn't that far off from what it should be if its even off at all."
They have sent a contract for me to sign, which is totally not what we discussed. I'm thinking of marking it up with the corrections, adding the the amounts I would like for them to contribute toward interest rate buy down and/or upgrades and walking away if the answer is no. I really like the home, but its missing a few things off my wish list and though I would like I am not really that attached.
Upgrading the home would not only take it outside of my mortgage affordability, but I also think it would price the home outside of the neighborhood. It would be the most expensive home that has closed although they have a couple other "listings" at the price I would end up paying with upgrades included. The listed homes won't sale at the price they've put on them as they have no upgrades and none of the other houses have sold for that. They have most likely been inflated so that they will be able to have room for "negotiation."
I know I have gone off on a tangent here. So if you read this far... Thank you very much!
We are looking to build a new home with True Homes in the Charlotte, Kannapolis, Concord, NC area. I've been reading different things about rather or not True Homes will throw in any upgrade options or negotiate the payment of additional Seller Paid Closing Cost that could be applied towards any of the Buyers expense at closing. (i.e. loan origination fees, pre-paid expenses, discount points, or any other amount paid to reduce the buyers Mortgage rate.
Has anyone had any luck with being able to negotiate with the Charlotte area True Homes in today's market? The True Homes Agent is saying that they won't budge on anything. I'm wondering if the amount the builder contributes affects his (the True Homes Agent) commission in some way or if they really don't have any negotiating room. Or if the negotiating or upgrade incentives or thrown in when purchasing a certain price range of home.
Additional Info:
I do have a Realtor. She doesn't seem to be much help. Her answer to every question is "You have to think of it as you're asking them for $5000!" or "You would be asking them for $10,000!" "That's not how this works." When considering an existing home- "This house is listed at this price and has been sitting for 3 months, but the asking price isn't that far off from what it should be if its even off at all."
They have sent a contract for me to sign, which is totally not what we discussed. I'm thinking of marking it up with the corrections, adding the the amounts I would like for them to contribute toward interest rate buy down and/or upgrades and walking away if the answer is no. I really like the home, but its missing a few things off my wish list and though I would like I am not really that attached.
Upgrading the home would not only take it outside of my mortgage affordability, but I also think it would price the home outside of the neighborhood. It would be the most expensive home that has closed although they have a couple other "listings" at the price I would end up paying with upgrades included. The listed homes won't sale at the price they've put on them as they have no upgrades and none of the other houses have sold for that. They have most likely been inflated so that they will be able to have room for "negotiation."
I know I have gone off on a tangent here. So if you read this far... Thank you very much!
The bolded comments above are a huge flag. You NEVER want to be the biggest, or nicest or highest price in the neighborhood. Especially in a new construction development.
We are looking to build a new home with True Homes in the Charlotte, Kannapolis, Concord, NC area. I've been reading different things about rather or not True Homes will throw in any upgrade options or negotiate the payment of additional Seller Paid Closing Cost that could be applied towards any of the Buyers expense at closing. (i.e. loan origination fees, pre-paid expenses, discount points, or any other amount paid to reduce the buyers Mortgage rate.
Has anyone had any luck with being able to negotiate with the Charlotte area True Homes in today's market? The True Homes Agent is saying that they won't budge on anything. I'm wondering if the amount the builder contributes affects his (the True Homes Agent) commission in some way or if they really don't have any negotiating room. Or if the negotiating or upgrade incentives or thrown in when purchasing a certain price range of home.
Additional Info:
I do have a Realtor. She doesn't seem to be much help. Her answer to every question is "You have to think of it as you're asking them for $5000!" or "You would be asking them for $10,000!" "That's not how this works." When considering an existing home- "This house is listed at this price and has been sitting for 3 months, but the asking price isn't that far off from what it should be if its even off at all."
They have sent a contract for me to sign, which is totally not what we discussed. I'm thinking of marking it up with the corrections, adding the the amounts I would like for them to contribute toward interest rate buy down and/or upgrades and walking away if the answer is no. I really like the home, but its missing a few things off my wish list and though I would like I am not really that attached.
Upgrading the home would not only take it outside of my mortgage affordability, but I also think it would price the home outside of the neighborhood. It would be the most expensive home that has closed although they have a couple other "listings" at the price I would end up paying with upgrades included. The listed homes won't sale at the price they've put on them as they have no upgrades and none of the other houses have sold for that. They have most likely been inflated so that they will be able to have room for "negotiation."
I know I have gone off on a tangent here. So if you read this far... Thank you very much!
I would say your biggest issue is, you don't trust your Realtor. I do not know the area or the homes, but what I can say is, that one part of the Realtors job is to tell you what you don't want to hear. This might be the case. If you are questioning the Realtors judgment, it is time to talk to the Broker in Charge.
As for the contract, make it to your liking, if they go for it good, if not, well they are mass built homes, another one will be along in days or weeks.
When I moved here in 2010, it was a buyers market and most builders, including TruHomes were offering incentives. Today, it's a sellers market and they, the sellers, don't have to give free upgrades or buy down someone's mortgage rate to make a sale.
So try waiting for the next buyers market or don't worry about it and just buy a home that fits your needs and budget in an area you like.
In my experience - everything is open to negotiation. Whether or not either party agrees to particular parts of the negotiation is based on what Proud Father said above - "It depends on the market."
I also agree that you should have complete faith that your Realtor is knowledgeable when it comes to negotiating new construction deals and has had enough experience to guide you in a way that gives you confidence in their direction.
Keep your end goal in mind and be patient. If you want a kitten - ask for a dog. LOL
Always ask for as much as your trusted advisors think is at least marginally reasonable and go from there.
In my experience - everything is open to negotiation. Whether or not either party agrees to particular parts of the negotiation is based on what Proud Father said above - "It depends on the market."
I also agree that you should have complete faith that your Realtor is knowledgeable when it comes to negotiating new construction deals and has had enough experience to guide you in a way that gives you confidence in their direction
I can't tell if you are saying that OP should trust their current agent, or are you saying they need to find one they can trust?
The comment about a house that's been on the market for 3 months but is priced right seems odd to me. IMO, in this market if a home is on the market longer than like a month there's a very good chance it's overpriced.
Doesn't hurt to ask for stuff from the builder (especially since it doesn't seem like you'd be devastated if you missed out on this one), worst they can do is say no. I know I've seen some builders sill offering incentives so it's not like it's unheard of, but not sure what True Homes has been doing recently.
I was looking at new construction townhomes in Pineville by True Homes. The agent said the same thing - no incentives. Other builders offered incentives but not True Homes.
Supply and demand. Unfortunately there's a ton of buyers and inventory is low. True seems to specialize in lower cost homes here in Charlotte where there's a peak demand in that price bracket.
However, it also sounds like your realtor isn't fighting for you and being totally upfront. You can play hardball with these developers, but do it through your realtor, NOT through the True Agent. You have to be ready to walk away though if you don't get everything you want...and you probably won't in todays market.
We are doing something similar with DH Horton on a new build. We went in with an agent and lucky we did. She mentioned some things such as incentives. Long story short. The builder gave us credit for 7500.00 at the design center. If we go with the recommended mortgage company they will pay 5000.00 towards closing cost. We shopped around for mortgage rates and made this known to the builders mortgage company. House is still being built but no issues with anything so far. When the house is near to completion we will decide on which mortgage to use, but the builders mortgage company is pretty close in rates. You have to be very aware, read everything and find an agent that will work for you. Apparently the builders have an account that pays the agent so they make out too. We had a wish
list as well and did give up a couple of things but not the important ones. So far we are happy hope it works out for you. But if your agent wont work for you or builder wont give anything, I would probably walk away. There are builders all around here that would be happy to have your business.
From experience as an agent myself, some low cost builders offer a cash bonus incentive to you agent above their normal commission and at the agents discretion they can allow a portion of the incentive to be a buyer's design credit or sales incentive towards purchase price. Maybe that is why your agent doesn't seem helpful. The only available incentive maybe taking money out of your agents own pocket.
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