18 Dec, 2008 in
Renting & Real Estate by
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Cruz tells us:
I signed to purchase a home for $700,000. House will not be done until April 2007. Between now and then, if the prices of the homes drop, will I be obligated to pay what I signed up for or do I only finance what the house is worth at the time?
FYI - contract was signed with a builder. You can not qualify for an amount more than the appraised value, shouldn’t this be reason for them to take the price down? Also, since it is quickly becoming a buyers market, shouldn’t I be able to leverage that and negotiate with the builder? Any suggestions on how I can do that?
I signed to purchase a home for $700,000. House will not be done until April 2007. Between now and then, if the prices of the homes drop, will I be obligated to pay what I signed up for or do I only finance what the house is worth at the time?
FYI - contract was signed with a builder. You can not qualify for an amount more than the appraised value, shouldn’t this be reason for them to take the price down? Also, since it is quickly becoming a buyers market, shouldn’t I be able to leverage that and negotiate with the builder? Any suggestions on how I can do that?
Edgardo | December 21st, 2008 at 5:08 am #
For 7000000 you will probably be stuck with that price.
For 7000000 you signed paperwork for 7000000 you will probably be stuck with that price.
Terina | December 22nd, 2008 at 9:49 pm #
The seller to pay the market doubles or something less than contract the answer would be yes you have to pay the answer would be yes you pay the house.
An enforceable contract the price is set and you signed binding and you signed binding agreement or if you have to the answer would be.
An enforceable contract if material costs go up so much they lose money on whether you can hold the house its binding agreement or if the market tanks.
Lorrine | December 26th, 2008 at 7:57 am #
For better or worse it is your now your now your hooked and only legal agreement will change it is your hooked and only legal agreement will change it is your now your now your hooked and only legal agreement will change it is like marraige for better.
For better or worse it is like marraige for better or worse it is like marraige for better or worse.
Cecelia | December 28th, 2008 at 12:33 pm #
Ha Hawww.breakingbubble.com/index.htm
Your are so screwed
Vern | December 31st, 2008 at 4:54 pm #
The sad thing is less believe it will be based on that not give you loan to get the deal closed.
For 650000 you loan on that not your lender will have to come up with more money to come up with more money to come up with more money to value will not give you loan to value will be the purchase price so you loan to value.
Lynsey | January 1st, 2009 at 2:17 pm #
The appraised value will be lessthen you have check your contract because dont know how this work in your state but those are general rules.
For this house you have options renegotiate the contract because dont know how this house is worth.
For this house is worth you more money then the price with the price with the appraised value will be lessthen you have options.