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The other day my mom and I went to visit a contruction company that build homes. I picked what home I was very interesting in. I live with my parents but they are willing to let me build another house on the land since my brother was also allowed too. we have tons of acres of land. But my mom still wants me to look at other houses so I agreed. Well this home construction company handed me a pre-application I filled it out and faxed it to them the next day. And hours later I was approved because my credit was good and they gave my the amount of loan i can use. Well now they are telling if I don't sign any contract from them from a month now later on the house rates will go extremely up. and they know i don't make much money and they told how much i would be paying. which is affordable.
There is no contruction loan
No down payment
no closing cost.
they always say that you need to sign the contract now because if you dont the price will go up. you need to make the right decision for you, dont let them pressure you into doing something you arent sure about.
They are NOT feeding you crap... any company will lock in prices for a short time. They certainly aren't going to wait months or years for people to make up their minds!
Only YOU know if that month will pressure you...
personally, it sounds like you are not ready yet.
They are NOT feeding you crap... any company will lock in prices for a short time. They certainly aren't going to wait months or years for people to make up their minds!
Only YOU know if that month will pressure you...
personally, it sounds like you are not ready yet.
no, no, no...no.
they are using the fear of a rate hike to pressure you into making an irrational decision without putting your due diligence in.
i would run from these people...plenty other businesses out there that will allow you to make a decisions, rather than trying to make the decision for you.
This is the same tactic the car salesman uses: "I've got some other people looking at it. We can let it go for X price, but the price expires once you leave."
If they want to make the sale, they'll honor the price they quoted you. If they don't well it's not the end of the world...
If you are feeling pressured, then most likely, you are! However, that's the job of any good salesman ... to motivate people to buy (otherwise, they don't get paid or have jobs). The difference is that a good salesman learns how to move you on towards a win/win sale, without making you feel like you are on a 'used car lot.' (Not knocking the latter ... it's one of the toughest sales environments there is and salesmen there don't generally get more than one 30-40 minute opportunity to close a buyer).
In any case, when you feel pressured, it is time to back away and think out your purchase. Otherwise, 'buyer's remorse' will eat you alive.
First, yes they are feeding you a line of crap. There is ZERO pressure on interest rates or housing prices to rise.
There are almost certainly dozens of homes that are as good if not better for you as the one this builder is pushing and many of them are probably more affordable. THAT is why the dishonest salesperson does not want you to shop around.
An honest salesperson will enourage shopping -- if their product is a better value you'll come back and probably bring friends too.
If you are not prepared to be a home owner it is STUPID to allow anyone to pressure you into it.
Ask yourself this. Suppose the costs were going to come down, or stay the same, thus it was neutral or to your disadvantage to buy now. Do you suppose they would tell you that? No. They are only going to give you information (which may or may not be accurate) that creates an urgency on your part to buy. That means that anything they tell you suffers a natural bias, and you therefore should be skeptical of all of it. Especially if it's a building contractor telling you this.
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