Updated over 4 years ago on . Most recent reply
First Post - New Townhome Build
perhaps this is not a surprising situation given the current market, but I am a new homebuyer and have opted to buy a new build townhome. Currently at stage 0 and anticipate closing to be in Jan/Feb 2022. Thus far I have only put money down in earnest ($2500). I have a real estate agent, but not able to provide proper guidance thus far seemingly. I was texted by the builder's sales team at 7pm on day of putting down money in earnest, and was told I must sign the contract for the home before next morning, otherwise prices would increase by $10k in the AM. I briefly read the contract, which also has an appraisal waiver in the contract, and felt obligated to sign. I am unsure of what kinds of tactics the home builder will play moving forward, thus far they have already said they have changed their policy to increase the money in earnest to include an additional $2500 during a redline meeting to move forward. I am looking for resources and advocates so as to not be bullied by a builder who is short sided in this current seller's market. Any tips would be appreciated (I have just purchased the first time home buyer book just now).