How long should it take to get a counter offer from a builder?? (incentive, price)
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What is an acceptable amount of time between submitting a model, a lot and options to a builder before getting word of a 'counter offer' or information on incentives etc?
No money was submitted and nothing was signed but time frames were discussed regarding the contract on our current home.
I don't want to call the builder as I don't want to appear over anxious so I'm left to just wait it out. It's like dating all over again.
Well, for a while during the peak of the market, I know some local builders who were taking up to 6 weeks to respond to offers on existing houses, not even pricing out build jobs, which takes longer.
However, in today's market, I would expect a builder to respond to a written offer on a standing "spec" house within 2 business days. Pricing out a custom house takes longer. We are usually several meetings to get to a contract price. I would expect the entire pricing process to take several weeks on a custom house. For the first round, the builder would have to get bids from subcontractors, and that alone could take several days to a week.
It sounds like you are going to a builder asking for a particular plan to be built on a lot he possibly doesn't already own, so that might involve additional time for the builder to negotiate the purchase of that lot, get approval for the house to be built on it, and possibly arrange for financing on the lot. You could be looking at several weeks, even in today's tight market.
Now if the builder is not a custom builder, and you were just saying "I want your X plan built on your Y lot with A, B & C of the options on your list", I would expect an answer back on that within a week for sure.
Now if the builder is not a custom builder, and you were just saying "I want your X plan built on your Y lot with A, B & C of the options on your list", I would expect an answer back on that within a week for sure.
The above applies. Not a custom home, not a spec, just a tract home in an existing subdivision.
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