I am currently building a new home. Prices have since gone down. Do I have any way to get my price lowered?
We signed a contract on a new home in March. New homes in our development have been selling slowly and last week were lowered in price by ~,000. My home is still being built and will be ready sometime in October. Do I have any legal way to get the builder to lower my price as well, or am I simply stuck?
Hi.
You are not necessarily stuck. I hope you have a Realtor. Because if you were my client I would’ve made your contract contingent upon appraisal. Therefore, when the home is completed it will have to appriase for the the price you agreed upon. If it doesn’t you can renegotiate with the builder. My best advice is to look over your contract and make sure that your contract is contingent upon appraisal. If it is, you’re excellent . If not, you’re stuck. You can also be questioned to be let out of the contract and lose your earnest money.
Excellent Luck!