U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
 [Register]
Raleigh, Durham, Chapel Hill, Cary The Triangle Area
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-05-2019, 04:36 PM
 
Location: Never Never Land
1,063 posts, read 801,704 times
Reputation: 1845

Advertisements

Quote:
Originally Posted by gtownguy View Post
I’ve read the contract , as you know most of the contracts from all these well known builders are almost always identical ! So I don’t know why folks keep asking everyone “read the contract “ or “get a real estate agent / lawyer “
By the way , I do have a realtor but he seems useless ! I called him and he said he will probably contact them but I felt that he’s just another person like me who’s probably not going to be helpful . So I was trying to do my own lil research by asking here so that I could come up with something if someone had similar experience.

Contract says seller will tell me the closing date , and they did well in advance . And if I delay the closing it’s $125 per day extra ! That’s the contract.

What else can real estate agent do ? I guess they’ll have more experience but my agent seems very weak in these matters.
Tell them you need the actual date in writing. Them calling you and telling you it's going to be "in November" is not helpful or official. All commitments need to be in writing.
Reply With Quote Quick reply to this message

 
Old 10-05-2019, 05:22 PM
 
Location: under the beautiful Carolina blue
17,360 posts, read 26,685,459 times
Reputation: 13339
If you could pick a date to close what would it be? If the builder wants this off the books by year end maybe they will agree to a December closing.
Reply With Quote Quick reply to this message
 
Old 10-06-2019, 09:09 AM
 
Location: Phoenix, AZ > Raleigh, NC
15,459 posts, read 19,667,904 times
Reputation: 25200
Quote:
Originally Posted by gtownguy View Post
What else can real estate agent do ? I guess they’ll have more experience but my agent seems very weak in these matters.
Not to beat you up, but you vetted and hired this realtor.

I know you're trying to find an 'out' that benefits you. I understand that you're frustrated with the builder and the situation. But if paying an 'extra' month's rent shouldn't be a HUGE financial problem.

I still say that having the extra time to move AND clean up your rental so you get the security deposit back.
Reply With Quote Quick reply to this message
 
Old 10-06-2019, 06:10 PM
 
Location: Morrisville, NC
8,085 posts, read 11,179,735 times
Reputation: 7366
Quote:
Originally Posted by gtownguy View Post
I’ve read the contract , as you know most of the contracts from all these well known builders are almost always identical ! So I don’t know why folks keep asking everyone “read the contract “ or “get a real estate agent / lawyer “
By the way , I do have a realtor but he seems useless ! I called him and he said he will probably contact them but I felt that he’s just another person like me who’s probably not going to be helpful . So I was trying to do my own lil research by asking here so that I could come up with something if someone had similar experience.

Contract says seller will tell me the closing date , and they did well in advance . And if I delay the closing it’s $125 per day extra ! That’s the contract.

What else can real estate agent do ? I guess they’ll have more experience but my agent seems very weak in these matters.
A good agent is likely to be in a position to bring them future business, far more than you can, even if you are a very prolific homebuyer. That means the builder might be more willing to negotiate a bit. Also, they may have negotiated with this builder before o know someone who has. This gives them knowledge about what they might be really willing to do, not just what their opening position in the negotiation is.

Also, make sure to get a home inspection before close. The builder rep will say that isn’t needed or wait until the warranty period, but they work for the builder and not you. Waiting will mean things do not get fixed.
Reply With Quote Quick reply to this message
 
Old 10-07-2019, 08:03 AM
 
2,969 posts, read 5,130,181 times
Reputation: 7256
Quote:
Originally Posted by gtownguy View Post
I’ve read the contract , as you know most of the contracts from all these well known builders are almost always identical ! So I don’t know why folks keep asking everyone “read the contract “ or “get a real estate agent / lawyer “

Contract says seller will tell me the closing date , and they did well in advance . And if I delay the closing it’s $125 per day extra ! That’s the contract.

What else can real estate agent do ? I guess they’ll have more experience but my agent seems very weak in these matters.
I'm confused as to what you're asking us. Seems pretty clear cut. Seller told you the closing date. Nothing you can do. Just pay an extra month of pointless rent. If it's THAT tight ...
Reply With Quote Quick reply to this message
 
Old 10-07-2019, 08:21 AM
 
Location: Raleigh NC
10,659 posts, read 7,769,391 times
Reputation: 9090
tell us more about how you found your Realtor and the 3 main reasons you chose them to represent you.

and if you're able, paste a copy of the closing date language paragraph(s).

ps - we went over most of the "closing date" question that you have back when you first posed it in July. A builder isn't going to place much weight on "I went to the internet, and some anonymous people told me they did this ..."
Reply With Quote Quick reply to this message
 
Old 10-07-2019, 10:48 AM
 
229 posts, read 178,481 times
Reputation: 196
Most are focusing on the contract, it is important, but you haven't stated what condition the home is in.

What constitutes a close per the contract? If they are wrapping up construction a month early, have you been visiting the site throughout the process? Are you satisfied with the level of "fit 'n finish"? Have they cut corners? You should be doing a final walk through at some point?

Perhaps your only way to delay things is to find issues with the work and demand they be addressed prior to closing which might push things out some. I would look at this and determine whether or not you'll be in a situation where the builder will be telling you they'll return to fix/finish things, and would NOT accept that as it is often difficult to get them back to complete work.
Reply With Quote Quick reply to this message
 
Old 10-07-2019, 11:20 AM
 
Location: Raleigh NC
10,659 posts, read 7,769,391 times
Reputation: 9090
^that depends on the contract too.

he certainly presumably has the option to have a private home inspection performed once they know the CO date (ie, inspection after CO).

how they handle repairs can differ.

and most contracts say something like "closing within 10 days from CO", which is providing time for the walkthrough/punchlist/inspection.
Reply With Quote Quick reply to this message
 
Old 10-07-2019, 11:36 AM
 
Location: Phoenix, AZ > Raleigh, NC
15,459 posts, read 19,667,904 times
Reputation: 25200
Quote:
Originally Posted by BoBromhal View Post
tell us more about how you found your Realtor and the 3 main reasons you chose them to represent you.

At this point, does it matter? OP is stuck with this realtor (though I admit I was surprised to hear he/she even had one).

I'm not being snarky, Bo. But I hope that future readers of this thread WILL realize that using a good agent for new construction is necessary.
Reply With Quote Quick reply to this message
 
Old 10-07-2019, 04:09 PM
 
Location: Raleigh NC
10,659 posts, read 7,769,391 times
Reputation: 9090
well, this thread is the first mention of having an agent. Didn't mention it in July, despite being brought up then. I do think it would be instructive to future readers to see how it was figured out.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina > Raleigh, Durham, Chapel Hill, Cary
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 02:14 PM.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top