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Old 12-06-2017, 11:15 AM
 
Location: Somewhere in America
11,382 posts, read 8,641,994 times
Reputation: 18177

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Quote:
Originally Posted by Tampaite View Post
I understand they want to close by year-end. what are the other 500,000 reasons?
500,000 reasons = $500,000

They've been paying for materials, labor, permits, utilities, etc. for months. They need their money back.
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Old 12-06-2017, 11:17 AM
 
Location: Cary, NC
28,625 posts, read 50,873,029 times
Reputation: 26808
Quote:
Originally Posted by Tampaite View Post
Since Hurricane Irma, the builder has been rushing thro' homes to complete and there is concern about the quality being affected and hence, we want to hire a home inspector a week before closing.

If we need to close on 12/29, we need to hire inspector to perform inspection the week before(12/22) which means the home has to be ready few days before 12/22 say 12/20 and 12/20 is only 2 weeks out from today. Right now, I would say home is about 80% done and maybe with more bodies, you can get it done in 2 weeks.

Penalty is $500 per day and for 9-day delay we are looking at $4500 penalty. Again, if it's per business day, penalty will be lower. Contract simply says per day. Am assuming they can't close on holidays and weekends.

It will cost us 20K to change our travel plan as it's non-refundable. We booked this vacation in April so we got a good deal.

Paying 4500 is no-brainer considering we would be out 20K.

Do we have any leeway in negotiating a middle ground? We can fly back but will incur cost.

I don't know what incentives the builder has, to close on 12/29 - would it be more than 20K on a 500K home?

I betcha....

That a lot of employee year end bonuses are tied to volume.
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Old 12-06-2017, 01:41 PM
 
10,021 posts, read 21,047,874 times
Reputation: 7639
Get your house inspector involved. Have him write the builder to tell him that when the house is complete and a certificate of occupancy has been issued and provided to the inspector, the inspector will promptly punch list the house and you will close as soon as the punch list items are complete.

No chance this will happen before the end of the year.
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Old 12-06-2017, 01:43 PM
 
Location: Somewhere in America
11,382 posts, read 8,641,994 times
Reputation: 18177
Quote:
Originally Posted by Wilson513 View Post
Get your house inspector involved. Have him write the builder to tell him that when the house is complete and a certificate of occupancy has been issued and provided to the inspector, the inspector will promptly punch list the house and you will close as soon as the punch list items are complete.

No chance this will happen before the end of the year.
Why don't you think they'll get the CO before the end of the year? They need it before closing. Since when do inspectors do the punch list? They don't know what upgrades you paid for. They are paid to inspect not check that the correct crown molding is in the family room.
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Old 12-06-2017, 01:55 PM
 
16,744 posts, read 11,945,067 times
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Quote:
Originally Posted by Tampaite View Post
I understand they want to close by year-end. what are the other 500,000 reasons?
Shouldn't you be on the horn with your agent & lawyer trying to find someone to give POA?
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Old 12-06-2017, 02:07 PM
 
10,021 posts, read 21,047,874 times
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Quote:
Originally Posted by ss20ts View Post
Why don't you think they'll get the CO before the end of the year? They need it before closing. Since when do inspectors do the punch list? They don't know what upgrades you paid for. They are paid to inspect not check that the correct crown molding is in the family room.

they don't need it for closing unless the lender requires it. Inspectors always do a punch list on new home construction. Do you live in the US?
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Old 12-06-2017, 02:17 PM
 
Location: Cary, NC
28,625 posts, read 50,873,029 times
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Quote:
Originally Posted by Wilson513 View Post
they don't need it for closing unless the lender requires it. Inspectors always do a punch list on new home construction. Do you live in the US?
Always?
Not exactly. Consumer choice to have any independent third-party inspection at all.

And,
A pre-insulation inspection is much more important than an after-coverup inspection.
I would go without the final before I would skip that pre-insulation inspection.
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Old 12-06-2017, 02:54 PM
 
Location: Somewhere in America
11,382 posts, read 8,641,994 times
Reputation: 18177
Quote:
Originally Posted by Wilson513 View Post
they don't need it for closing unless the lender requires it. Inspectors always do a punch list on new home construction. Do you live in the US?
Doesn't it same Somewhere in America up by my name? Oh yeah!

Inspectors do NOT always do a punch list on new home construction. I've built a brand new house. The inspector did NOT make a punch list. The inspector did the same inspection that he does on previously built homes. Punch list was NEVER even a conversation we had. The punch list was between us and the builder.
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Old 12-06-2017, 04:59 PM
 
10,021 posts, read 21,047,874 times
Reputation: 7639
Quote:
Originally Posted by ss20ts View Post
Doesn't it same Somewhere in America up by my name? Oh yeah!

Inspectors do NOT always do a punch list on new home construction. I've built a brand new house. The inspector did NOT make a punch list. The inspector did the same inspection that he does on previously built homes. Punch list was NEVER even a conversation we had. The punch list was between us and the builder.

You hire and inspector to punch list the new construction because they get up on the roof, check out the HVAC, water pressure, all is level and square and everything you know nothing about.

Your builder wants to fix exactly nothing.
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Old 12-06-2017, 05:56 PM
 
Location: Somewhere in America
11,382 posts, read 8,641,994 times
Reputation: 18177
Quote:
Originally Posted by Wilson513 View Post
You hire and inspector to punch list the new construction because they get up on the roof, check out the HVAC, water pressure, all is level and square and everything you know nothing about.

Your builder wants to fix exactly nothing.
Maybe that's what you do, but that's not what everyone does. Our punch list was things like finish installing baseboard around the island, loose door handle on the master bath, the siding on the east wall under bedroom #4's left window was pulled out, the kitchen pantry needs the shelves installed, the dining room paint needs a touch up, the dining room pillars need a paint touch up, etc.

The inspector did a normal house inspection. He did not do a punch list. He inspected our HVAC system. There was a duct that wasn't attached so a note was made. The 3 things he found were added to MY punch list. My items weren't added to any list he had. Water pressure is controlled entirely by the county. It's all about conservation there.

No, inspectors do not make sure everything is level and square. If that was the case, new construction would NEVER close because you'll never get every single wall and ceiling square and level. Forget it in previously owned houses.

We had ZERO problems getting MY punch list fixed. We had ZERO problems getting the items on our 30 day warranty work fix. We had ZERO problems getting the 1 year items fixed. Our central air unit died 2 weeks after we moved in and they had it repaired that afternoon. If your builder isn't fixing the punch list or warranty items, then you chose a crappy builder. Do your research!
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