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New Condo Buyers Seeking Out of the Contract: “Whiners” or Respectable Citizens?
There’s been some “buzz” lately about buyers of new construction condos who purchased pre-construction now wanting out of the deal with a return of their earnest money. Motivations vary: they are no longer able to get financing (”WHAT? I need a down PAYMENT!? Since when??”); their life situations have changed (baby +... »
What will they say in 20 years about today’s new homes?
When I look at new construction for sale I often wonder if the architect and the builder ever spoke or better yet, if the architect or the builder would ever live in the house they designed/built (I am a builder). I seem to be asking myself that question even more lately as I... »
Having second thoughts about that High-End Condo presale?
As with any blog, this is not legal advice. If you want legal advice, consult an attorney in your area. Escala. 1521 second avenue. Olive 8. Just a few of the many luxury, high-end condominiums going up in the Emerald City. Needless to say, when its “designed exclusively for the confident few,” you... »
Bribery to Work with the Builder’s Preferred Lender
When ever I’m working with a home buyer who may be considering new construction, I know I might lose them to the builder’s in house lender. Often times the builder will offer an enticing credit to the buyer’s closing costs only if they obtain their financing from the builder’s preferred lender. How can having a Loan... »
Appalling Statistics
Recentlyk Reba Haas wrote a post about theft of copper from new construction sites. Today the NWMLS reports that this theft is still on the rise. Here are the appalling statistics. The thefts since January 1st have occurred in the following areas: Area 54 – Tacoma area – 1 theft reported Area 72... »
Whose client is it, anyway
Scenario: buyer says that they will be buying in 3 months. You say, perfect, let’s get you pre-approved so you’ll be ready by then. You believe the buyer until they call you 5 days later with the great news that they just bought new construction from a site agent! Aren’t you happy for them? But... »
New Construction Tip
When buying new construction, you should try to do at least two walk through inspections before signing your closing papers. Do one early, maybe two weeks ahead of time. Go back BEFORE you sign your closing papers and check to see if everything from the first walk through was done. You can’t... »
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