Purchase price

[akkum_bakkum]

My buddy is going through a situation. He signed a contract recently with TM in a community developed exclusively by them. The contract price was 585k and its an inventory home. There are other inventory homes listed on either side of his contracted property. Those prices were slashed down significantly...Although the sizes of house are different, the avg price/sft went down and he is now underwater. One side slashed price to 166/sft and the other side to 156/sft. He wanted to approach the builder and ask for reduction in purchase price. Is it normal and will the builder agree to it? I haven't come across such situation before to offer him any suggestions. what do you think?

Real moghul @Sonu_Patel and others

[aratipandu]

7 minutes ago, akkum_bakkum said:

My buddy is going through a situation. He signed a contract recently with TM in a community developed exclusively by them. The contract price was 585k and its an inventory home. There are other inventory homes listed on either side of his contracted property. Those prices were slashed down significantly...Although the sizes of house are different, the avg price/sft went down and he is now underwater. One side slashed price to 166/sft and the other side to 156/sft. He wanted to approach the builder and ask for reduction in purchase price. Is it normal and will the builder agree to it? I haven't come across such situation before to offer him any suggestions. what do you think?

Real moghul @Sonu_Patel and others

I mean....I'm not an expert either but elli polite ga adagadam lo tappu ledhemo? naku kuda price match cheyyi ani

worst case scenario, they'll say NO.

[Dale]

link post chei location and community

[Sonu_Patel]

59 minutes ago, akkum_bakkum said:

My buddy is going through a situation. He signed a contract recently with TM in a community developed exclusively by them. The contract price was 585k and its an inventory home. There are other inventory homes listed on either side of his contracted property. Those prices were slashed down significantly...Although the sizes of house are different, the avg price/sft went down and he is now underwater. One side slashed price to 166/sft and the other side to 156/sft. He wanted to approach the builder and ask for reduction in purchase price. Is it normal and will the builder agree to it? I haven't come across such situation before to offer him any suggestions. what do you think?

Real moghul @Sonu_Patel and others

They dont reduce anna.. get lost antaru..

waste yavvaram anna.. builders are very smart and they dont reduce price on a home which is already under contract. 

[Thokkalee]

1 hour ago, akkum_bakkum said:

My buddy is going through a situation. He signed a contract recently with TM in a community developed exclusively by them. The contract price was 585k and its an inventory home. There are other inventory homes listed on either side of his contracted property. Those prices were slashed down significantly...Although the sizes of house are different, the avg price/sft went down and he is now underwater. One side slashed price to 166/sft and the other side to 156/sft. He wanted to approach the builder and ask for reduction in purchase price. Is it normal and will the builder agree to it? I haven't come across such situation before to offer him any suggestions. what do you think?

Real moghul @Sonu_Patel and others

Just ask.. did he pay anything for signing the agreement? If the difference is too high, then he can try to negotiate and ask for some discount… they may at least give some discount .. 

[Sonu_Patel]

43 minutes ago, Thokkalee said:

Just ask.. did he pay anything for signing the agreement? If the difference is too high, then he can try to negotiate and ask for some discount… they may at least give some discount .. 

ivvaru anna.. fish okasari padinaka.. adi end ayedi pan medhane ani @Aquaman antunde. 

[Konebhar6]

2 hours ago, akkum_bakkum said:

My buddy is going through a situation. He signed a contract recently with TM in a community developed exclusively by them. The contract price was 585k and its an inventory home. There are other inventory homes listed on either side of his contracted property. Those prices were slashed down significantly...Although the sizes of house are different, the avg price/sft went down and he is now underwater. One side slashed price to 166/sft and the other side to 156/sft. He wanted to approach the builder and ask for reduction in purchase price. Is it normal and will the builder agree to it? I haven't come across such situation before to offer him any suggestions. what do you think?

Real moghul @Sonu_Patel and others

There are ways to get out of a contract. Ask the agent directly. 

Check if any information is not disclosed properly like Melrose tax or property tax %. You can use it to negotiate saying, you cannot pay that much. Typically they do not want to lose a buyer, so they try to give more discount but not as much as they are offering other homes.

A friend just went through this, thats how I know.

[psycontr]

6 minutes ago, Konebhar6 said:

There are ways to get out of a contract. Ask the agent directly. 

Check if any information is not disclosed properly like Melrose tax or property tax %. You can use it to negotiate saying, you cannot pay that much. Typically they do not want to lose a buyer, so they try to give more discount but not as much as they are offering other homes.

A friend just went through this, thats how I know.

If loan approve avvakapothe due to change in circumstances deposit money return chesthara builders ?

[akkum_bakkum]

1 hour ago, Thokkalee said:

Just ask.. did he pay anything for signing the agreement? If the difference is too high, then he can try to negotiate and ask for some discount… they may at least give some discount .. 

 

16 minutes ago, Konebhar6 said:

There are ways to get out of a contract. Ask the agent directly. 

Check if any information is not disclosed properly like Melrose tax or property tax %. You can use it to negotiate saying, you cannot pay that much. Typically they do not want to lose a buyer, so they try to give more discount but not as much as they are offering other homes.

A friend just went through this, thats how I know.

Just found out more details. He paid 32k EMD with home sale contingency clause. That may help him come out of the contract with 8k loss. He is saying the same house may be renegotiated 35k less than this price (based on the neighboring homes' price/sft). In which case, I would think giving that dhamki saying, reduction in price may help double paperwork for loan team, title company etc.

Either way, no harm in trying ane anukuntunna nenu bhi

[akkum_bakkum]

15 minutes ago, psycontr said:

If loan approve avvakapothe due to change in circumstances deposit money return chesthara builders ?

Finance addendum vuntadanna....once conditional approval vasthe, no refunds at all antaru usually.

[Konebhar6]

15 minutes ago, akkum_bakkum said:

 

Just found out more details. He paid 32k EMD with home sale contingency clause. That may help him come out of the contract with 8k loss. He is saying the same house may be renegotiated 35k less than this price (based on the neighboring homes' price/sft). In which case, I would think giving that dhamki saying, reduction in price may help double paperwork for loan team, title company etc.

Either way, no harm in trying ane anukuntunna nenu bhi

Home builders are in no place to negotiate. Your friend can negotiate hard with a hard tone, but if they are already in loan process, its difficult, take a soft tone approach. 

[Konebhar6]

31 minutes ago, psycontr said:

If loan approve avvakapothe due to change in circumstances deposit money return chesthara builders ?

Yes

[kevinUsa]

Visa rejection ani chepi 10geyste

[Aquaman]

54 minutes ago, Sonu_Patel said:

ivvaru anna.. fish okasari padinaka.. adi end ayedi pan medhane ani @Aquaman antunde. 

correct ... oka sari sign chesaka inka anthe.. no dady listening ...you have to be ready to get out by losing earnest depost.

[aratipandu]

3 hours ago, Sonu_Patel said:

ivvaru anna.. fish okasari padinaka.. adi end ayedi pan medhane ani @Aquaman antunde. 

@Aquaman anna...ne username enaka intha deep philosophy undha??? Super anna nuvvu