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As 1st-time buyers, we don't know anything about closing/settlement date. How firm are these dates? Let's say we are told to expect to close sometime in March 2013, but the problem is what happens if we're required to be out of town (on a required week long business trip)?
What state do you live in? Out in Oregon, buyers put their desired close date in the initial offer so you'd want to take into account planned trips and such. You also close in 45 days so you don't have to see out that far.
Your contract will define the dates and how firm they are.
Your builder will work around your schedule to some extent. He know you need your job to pay him. I don't think anyone loses a home due to a business trip.
I would suggest you read the contract and talk to the builder about flexibility if needed.
Many builder contracts say something about closing within 2 weeks of the final walk thru. Just put off your two walk thrus as long as you can, or speed them up so you close before you leave town.
My last two homes were new builds. One delivered 8 months late, the last one delivered 3 days early. Read purchase contract it will not be in your favor.
Now if other homes are being built by the same builder in a development, it is easy to see the progress and how much one can trust their delivery date.
If you get within two weeks of delivery date, then be happy. You can always delay the close if out of town. In my last sale the close get delayed one week, then another week, then another week. All because the buyers lender was stupid and slow.
I don't think you will have a problem. Being new construction and not a resale contract. Suggest you communicate the dates you will be away in writing to your builder, your lender, and the title co / attorney. Maybe a few times. They won't close without you.
Fax is better than email. Or both.
Last edited by gv28; 11-12-2012 at 09:47 AM..
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