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Old 05-13-2008, 01:24 PM
 
425 posts, read 1,087,828 times
Reputation: 253

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Quote:
Originally Posted by bentlebee View Post
who is to blame for the wrong survey's and how can people held reliable? I was under the impression that a survey is insured? But from what was said, it seems the buyer is just stuck....
Good question. You'd hate to see the homeowner burned for someone else's error. A survey really needs to be correct, otherwise, why bother doing one? I've heard of problems before though so unfortunately it may not be totally uncommon.

I had a house built in a new neighborhood and after the string of homes were finished, it was discovered that my neighbors house was too close to the house next to it. It violated whatever the fire code's minimum was by a foot. Everyone hated this builder- he had messed up all of our houses so we would have loved to have seen him pay dearly for this mistake. But, in the end there wasn't much that could be done. I think the city had a hearing or something to make an exception. I could have went to voice my concern, but I doubt they would have made them tear the house down and rebuild it slightly less wide.

It is a shame how you get treated when spending $300, $400 or even $500K or more to have a spec home constructed. I've yet to see a way that the buyer can gain the upper (or even an equal) hand. Maybe the tides are turning though. Many of these builders had a good run and building overpriced, poor quality homes that were in extremely high demand. But what goes around, comes around. Just like all the guys flipping homes that helped jack up prices... many of them are stuck with properties now that they can't get rid of.
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Old 05-13-2008, 01:52 PM
 
25,779 posts, read 38,992,690 times
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Quote:
Originally Posted by tjax1000 View Post
Good question. You'd hate to see the homeowner burned for someone else's error. A survey really needs to be correct, otherwise, why bother doing one? I've heard of problems before though so unfortunately it may not be totally uncommon.

I had a house built in a new neighborhood and after the string of homes were finished, it was discovered that my neighbors house was too close to the house next to it. It violated whatever the fire code's minimum was by a foot. Everyone hated this builder- he had messed up all of our houses so we would have loved to have seen him pay dearly for this mistake. But, in the end there wasn't much that could be done. I think the city had a hearing or something to make an exception. I could have went to voice my concern, but I doubt they would have made them tear the house down and rebuild it slightly less wide.

It is a shame how you get treated when spending $300, $400 or even $500K or more to have a spec home constructed. I've yet to see a way that the buyer can gain the upper (or even an equal) hand. Maybe the tides are turning though. Many of these builders had a good run and building overpriced, poor quality homes that were in extremely high demand. But what goes around, comes around. Just like all the guys flipping homes that helped jack up prices... many of them are stuck with properties now that they can't get rid of.
I was thinking the same while driving by a community on St Rd 54 yesterday. 2 Years ago I was at that side to get my name on a list to buy as an investor. There was a realtor sleeping in his car and paid by some investors and home buyers, to stay there 7 days before they started to put names down. 1 other person was sleeping in a RV on this side also to wait for a week. I left and was laughing about how silly it had become and didn't want to deal with that and not in a 100 years would I consider sleeping in a car to get my name on a list. Now 2 years later the builder has a sign that the give 4,5% mortgage rates to buy in there since they can't get the lots sold.......
I have been honest as an investor to say upfront that I was an investor and sometimes wasn't allowed to buy....that is okay with me... but later they were almost bagging me to please buy a lot....
I agree many investors wanted to be smart and bought ridiculous many lots and they are stuck with foreclosures. Well if you get to greedy you can only blame your self. No sorry for them or for the builders who thought that they could get greedy too.
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Old 05-13-2008, 06:28 PM
 
Location: NY/ FL
267 posts, read 1,043,133 times
Reputation: 90
In regards to your original question, I don't think that the price cut is that big of a deal. I am in an MI home and it was built just prior to everything really slowing down. I think the quality is pretty good. I know that they are cutting the prices in my community a lot as well. I think it is just a real estate correction. The prices before were so inflated that now the market has corrected itself and they have to cut the costs just to sell homes. They are still going to make a profit, just not as big as before. As far as the salesperson, they are real estate agents in the offices and we delt with Jessica, who is now in another community. She was a dream to deal with. Most of the people that I have worked with in dealing with MI are pretty nice. They just had a bad apple. (I would jump on that Longsdale if I were you - I wished they built that in my community when I was in the market).
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Old 05-15-2008, 02:48 AM
 
24 posts, read 132,697 times
Reputation: 19
Quote:
Originally Posted by bentlebee View Post
I am aware of an issue in Seven oaks with M/I homes. They sold new construction homes to people and when people asked them if a pool could be build later on the lot, they said "yes". The lots aren't big enough although they lok big enough but there is a set back on the conservation and the HOA and developer of Seven Oaks aren't giving permission to build a pool. I was at a HOA meeting and one person even hired a lawyer, but still they were not allowed to build a pool. It isn't the fault of the developer/HOA of Seven Oaks, but the builder should have disclosed this. The builder is now hiding behind the fact that the sales person had it wrong or something like that. The sales person isn't a realtor and not responsible for anything that is said in the sales office. I was shocked to hear that but I was glad I learned this before I could ever make the same misstake when buying new construction. I forgot to say that the survey was also wrong and during this HOA meeting I learned that it doesn't happen often but the survey can be wrong and the buyer is the one who is stuck with this....So buyer be ware.
I think you're mistaken on the builder as M/I has never built homes in Seven Oaks. I did a little research as we are currently building an M/I home and intend to install a pool later. We obviously would not want to end up in this situation.
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Old 05-15-2008, 07:31 AM
 
25,779 posts, read 38,992,690 times
Reputation: 13782
Quote:
Originally Posted by leesa7 View Post
I think you're mistaken on the builder as M/I has never built homes in Seven Oaks. I did a little research as we are currently building an M/I home and intend to install a pool later. We obviously would not want to end up in this situation.
I'm so sorry. It was Mercedes Homes, I was mistaken. Thanks for seeing my mistake and clearing things up. The rest is all true and can be verified with the HOA/CDD commitee of Seven Oaks.
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