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Old 10-10-2014, 09:31 PM
 
Location: Wood Ridge
26 posts, read 74,284 times
Reputation: 13

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We did indeed get a copy of this, I gave it to my husband with all the other paperwork and forgot! He had read through it (I should preface this with the fact that he is an attorney). When I asked him tonight about the section you refer to, He didn't find anything in there that would cause alarm, in fact he was impressed that the developers went ahead and cleaned up areas that they aren't planning on building on. I mean ideally you wouldn't want to live somewhere that ever had issues, but you won't find many places around Manhattan that haven't had something. This isn't enough to deter us, but thank you for sharing. Everyone should read it (page 12-17) and know what they are getting into.

I think it's also very important to know that the water for all these buildings comes from the city water supply and not underground wells.
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Old 10-11-2014, 05:32 AM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by harpreetwalia View Post
Thanks for the reviews guys. Please keep it coming. We have still not bought a place here as the plot we are interested in, is still not up for sale.

For all (ChinoJedi, Sasha336, Lovened) who have booked plot/houses here, have few questions

1) Did you negotiated from your side to bring down the actual/base price they are selling these plots/houses for?
2) How much extra would need to be paid, if you need to close this deal. We are thinking of going ahead with pulte mortgage and were just wondering how much in total would it cost?
3) Is there any hidden cost/terms that we should be watching out for?

Harpreet
1) Based on our various conversations with Pulte, the fact that home sale rates are initially going at 2x their expectations, and our experience with new construction purchases in NJ in general, there is little to no negotiation going on with the home purchases.
2) In the VIP meeting, Pulte mentioned that one should expect to pay 30-50K in options on top of the initial price. This is of course YMMV. But we ended up in the 50K range, so it was true for us.
3) None that we noticed. We close in about a month or so, will let you know afterwards!
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Old 10-11-2014, 10:14 PM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by Lovened View Post
We did indeed get a copy of this, I gave it to my husband with all the other paperwork and forgot! He had read through it (I should preface this with the fact that he is an attorney). When I asked him tonight about the section you refer to, He didn't find anything in there that would cause alarm, in fact he was impressed that the developers went ahead and cleaned up areas that they aren't planning on building on. I mean ideally you wouldn't want to live somewhere that ever had issues, but you won't find many places around Manhattan that haven't had something. This isn't enough to deter us, but thank you for sharing. Everyone should read it (page 12-17) and know what they are getting into.

I think it's also very important to know that the water for all these buildings comes from the city water supply and not underground wells.
Ah, thanks for the page citation. I completely missed this section despite having skimmed the binder twice!

Yah, I'm on the same page as you. The disclosures and language don't particularly bother me. Roche is planning similar remediation for their Clifton / Nutley site, and Teterboro Landing also required remediation for the former Honeywell aircraft parts factory.

Last edited by ChinoJedi; 10-11-2014 at 10:38 PM..
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Old 10-13-2014, 05:53 PM
 
24 posts, read 70,688 times
Reputation: 10
Quote:
Originally Posted by harpreetwalia View Post
Thanks for the reviews guys. Please keep it coming. We have still not bought a place here as the plot we are interested in, is still not up for sale.

For all (ChinoJedi, Sasha336, Lovened) who have booked plot/houses here, have few questions

1) Did you negotiated from your side to bring down the actual/base price they are selling these plots/houses for?
2) How much extra would need to be paid, if you need to close this deal. We are thinking of going ahead with pulte mortgage and were just wondering how much in total would it cost?
3) Is there any hidden cost/terms that we should be watching out for?

Harpreet
As was already mentioned the price could not be negotiated due to a high demand, so the only incentive you get is 6000 usd towards the closing costs if you stick with pulte mortgage. Please be aware if your mortgage amount will go over 417000, the jumbo higher rate will apply. For that reason we were conservative with picking too many upgrades for our manchester home. Note that some upgrades come already included in the price offered so you dont have much control over it.
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Old 10-13-2014, 05:58 PM
 
24 posts, read 70,688 times
Reputation: 10
Quote:
Originally Posted by ChinoJedi View Post
1) Based on our various conversations with Pulte, the fact that home sale rates are initially going at 2x their expectations, and our experience with new construction purchases in NJ in general, there is little to no negotiation going on with the home purchases.
2) In the VIP meeting, Pulte mentioned that one should expect to pay 30-50K in options on top of the initial price. This is of course YMMV. But we ended up in the 50K range, so it was true for us.
3) None that we noticed. We close in about a month or so, will let you know afterwards!
Congrats on the upcoming closing, wonder if you experienced any delays during thr construction or was it pretty much as promised? The construction of the home i chose will start somewhere in december, but im afraid winter weather will be an obsticle
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Old 10-14-2014, 06:48 AM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by Sasha336 View Post
Congrats on the upcoming closing, wonder if you experienced any delays during thr construction or was it pretty much as promised? The construction of the home i chose will start somewhere in december, but im afraid winter weather will be an obsticle
Ironic that you asked. We just found out yesterday that our unit column will be delayed by a couple weeks to early December. We were initially promised mid-November, so a couple weeks is not too bad.

This timing actually works out pretty well for us for a couple of reasons:
1) the property tax abatement kicks in for your first full calendar year (2015). So for 2014, we will pay less of the unabated property taxes, haha.
2) We were planning to pick up a fridge, dryer, and washer on Black Friday anyway.
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Old 10-14-2014, 06:18 PM
 
24 posts, read 70,688 times
Reputation: 10
Two weeks is nothing i agree. We will go ahead with the fridge purchase from the seller, because im scared to think of the movers bringing it up through not a very wide starcase between the floor. I wont regret construction to be delayed for a month to coinside with our current lease ending but not more!
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Old 10-14-2014, 07:19 PM
 
24 posts, read 70,688 times
Reputation: 10
Quote:
Originally Posted by ChinoJedi View Post
Ironic that you asked. We just found out yesterday that our unit column will be delayed by a couple weeks to early December. We were initially promised mid-November, so a couple weeks is not too bad.

This timing actually works out pretty well for us for a couple of reasons:
1) the property tax abatement kicks in for your first full calendar year (2015). So for 2014, we will pay less of the unabated property taxes, haha.
2) We were planning to pick up a fridge, dryer, and washer on Black Friday anyway.
I wonder how the assessment will play out, any informed guess? When does it usually take place?
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Old 10-15-2014, 05:38 AM
 
181 posts, read 302,648 times
Reputation: 41
Quote:
Originally Posted by Sasha336 View Post
I wonder how the assessment will play out, any informed guess? When does it usually take place?
If I remember correctly, during the VIP event, Pulte told us that the property assessed value was based upon the home sale price, and the unabated property tax percentage was something like 2.25%. And by taking the 5 year property tax abatement, we also waive our rights to appeal our property tax assessment during that time period.
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Old 10-15-2014, 06:46 AM
 
24 posts, read 70,688 times
Reputation: 10
Quote:
Originally Posted by ChinoJedi View Post
If I remember correctly, during the VIP event, Pulte told us that the property assessed value was based upon the home sale price, and the unabated property tax percentage was something like 2.25%. And by taking the 5 year property tax abatement, we also waive our rights to appeal our property tax assessment during that time period.
And how about an appraisal? If you select too many upgrades there is a risk that it wont come intact. In this case you are supposed to increase downpayment, right?
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