(Closed) Buying new construction, price went down.. Questions

posted 5 years ago in Home
Post # 2
Member
1432 posts
Bumble bee
  • Wedding: November 2013

mandanjoe:  Hmmm… in theory I would expect them to be able to give you the lower price since you can still walk away.  BUT, locking in a price is locking in a price, even if it doesn’t end up benefitting you in the process.

Sorry I’m not much help.  I can just see both sides of the argument…

Post # 3
Member
9544 posts
Buzzing Beekeeper
  • Wedding: August 2013

You could try threatening to walk, but I don’t think you can force them to drop the price, since you locked in the price previously. 

Post # 4
Member
137 posts
Blushing bee

mandanjoe:  Why don’y you back away from the contract, loose the $1,000 and then resign the contract for the $5,000 less price? That way you save $4,000! I know its not as good as $5,000, but its better than nothing 🙂

Post # 5
Member
297 posts
Helper bee
  • Wedding: May 2015

say you will walk away and do so – they won’t call your bluff and you should be able to get the lower price.  but I agree, locking in price is for if the price goes up, shouldn’t be the other way around.

Post # 8
Member
1674 posts
Bumble bee
  • Wedding: September 2014 - Waldorf Astoria, Chicago

mandanjoe:  What I would do is demand $5000 free in upgrades.  They should be willing to do that for you since they have lowered their prices, and if you were comfortable at the original price it’s a win win, you can get nicer finishes and everyone is happy!  New Construction is never willing to come down on price, but where you can get ahead is free upgrades. 

We just bought new construction last year, one thing I would highly recommend is insisiting that they do not use flat paint for all of the common rooms (they will use semi gloss in bathrooms) but make sure to get anything but flat.  it’s common in new construction b/c it hides flaws and is cheaper, it sucks b/c the walls get marked up easily and you can’t clean them!!  (Just a little tip I wish someone had shared with me when we bought new construction).  Good Luck!! 

Post # 9
Member
137 posts
Blushing bee

mandanjoe:  The sales agents definately work for the builder. I just bought a new construction about a month ago, and my Fiance and I actually put a deposit down on one house and then within 10 days withdrew the offer and put an offer down on a different (same builder just a few lots down). So it can definately be done. When you withdraw an offer and re-sign, you are a “new customer”, but they always hold the right to deny selling you a home, I just don’t see why they would do that? It doesn’t make sense from a business plan point of view. If they did it it would be purely out of spite. I would stick my ground, go back and say you will withdraw the offer and put down another offer unless they knock the difference off of your current price.

Post # 10
Member
137 posts
Blushing bee

mandanjoe:  I also think its a good idea (as the person above said), to ask for the difference in free upgrades 🙂 Don’t walk away with nothing though! You can pursuade them into alot of things, you just have to hold your ground. Fiance and I got $25k off the asking price, $10k of free upgrades from the design centre and $7k of free construction upgrades. It makes it better for bargaining that we are coming up to the end of the fiscal year 🙂

The topic ‘Buying new construction, price went down.. Questions’ is closed to new replies.

Find Amazing Vendors