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Old 07-17-2008, 07:40 AM
 
2 posts, read 7,471 times
Reputation: 10

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First time new home buyer here. I'm deciding on building a home in the Friendswood Oak subdivision in Friendswood. Anyone have any experiences in dealing with Newmark and any complaints on the home/construction quality? Also, when builders are closing out, do they usually give out better incentives or have a higher discount percentage off from their base price? Any response would be greatly appreciated.
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Old 07-17-2008, 09:01 AM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,736,420 times
Reputation: 4190
Newmark's parent company is in Bankruptcy and they don't have the best reputation.
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Old 07-17-2008, 09:21 AM
 
Location: Austin & Houston, TX
1,461 posts, read 5,597,669 times
Reputation: 425
Parent Company is TOUSA. As for TOUSA the Chapter 11 filing is generally a voluntary action taken by a company to protect its ongoing business from financial claims while it continues operating its business. During a Chapter 11 proceeding, the company reorganizes financially and, at times, operationally so that it can meet the claims of those to whom it owes money. A Chapter 11 filing includes an automatic stay that immediately freezes all claims against the company that predate the filing, stops all lawsuits against the company, and precludes creditors from exercising control over the company's property. Chapter 11 reorganization is entirely different from other kinds of bankruptcy proceedings where the focus is on liquidating the company. Companies commonly file for Chapter 11 voluntarily because it provides a process for the company to restructure and to emerge as a viable business.
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