house sign chesa 5 months back work not yet started

[Thokkalee]

You should be able to back out if they didn’t start the construction… look at your agreement.. once construction starts, you cannot back out though.. 

[Pavanonline]

3 hours ago, Thokkalee said:

You should be able to back out if they didn’t start the construction… look at your agreement.. once construction starts, you cannot back out though.. 

earnest 5% kattadu kada, adi bokka padatadi 

[Thokkalee]

3 minutes ago, Pavanonline said:

earnest 5% kattadu kada, adi bokka padatadi 

Not really.. it depends on the agreement… I have seen some agreements where it clearly says the buyer can back out with no penalty or cost before the construction starts.. 

[Pavanonline]

15 minutes ago, Thokkalee said:

Not really.. it depends on the agreement… I have seen some agreements where it clearly says the buyer can back out with no penalty or cost before the construction starts.. 

naku telisi texas lo antha facility ivatledu. Most builders changed these things in early 2021.

[AnandaVivek]

7 hours ago, Thokkalee said:

Not really.. it depends on the agreement… I have seen some agreements where it clearly says the buyer can back out with no penalty or cost before the construction starts.. 

A kalam lo unnavu bhayya…aa rojulu eppudo poyayi..They used to do those when deposits are 2k, 5k etc..now 50k ala kattinchukuntunnaru..no returns

[Thokkalee]

1 hour ago, AnandaVivek said:

A kalam lo unnavu bhayya…aa rojulu eppudo poyayi..They used to do those when deposits are 2k, 5k etc..now 50k ala kattinchukuntunnaru..no returns

A friend recently backed out and got the earnest money back… construction start avvakapothe back out avvachu without any payment ani contract lo undi… that’s why, he should go through the contract and see if there is a provision to back out 

[pandu123b]

you are doing the right thing by thinking of backing out.

Discuss directly with builder and ask about options, they are your best bet now.

 

[One_Naani]

You can get letter from employer saying you are located in different area now or remote is no longer an option. This might work 50% cases.

[Hydrockers]

2 hours ago, AnandaVivek said:

A kalam lo unnavu bhayya…aa rojulu eppudo poyayi..They used to do those when deposits are 2k, 5k etc..now 50k ala kattinchukuntunnaru..no returns

1 year lo ista ani cheppi 3 to 4 years cheste bisket ee ga anna mari

[chicagoafdb]

basic question - if i choose a home, down payment some 10 or 20 percent, I get Loan approved for say 4% now. builders take time to finish say 2 years, that time interest rate is 6% will I be paying 4% or 6% ?

[nizambadnarsingyadav]

13 minutes ago, chicagoafdb said:

basic question - if i choose a home, down payment some 10 or 20 percent, I get Loan approved for say 4% now. builders take time to finish say 2 years, that time interest rate is 6% will I be paying 4% or 6% ?

6%

[gudboy]

1 hour ago, chicagoafdb said:

basic question - if i choose a home, down payment some 10 or 20 percent, I get Loan approved for say 4% now. builders take time to finish say 2 years, that time interest rate is 6% will I be paying 4% or 6% ?

interest rate usually locked before 60 days from closing until and unless you buy extended lock

[chicagoafdb]

39 minutes ago, gudboy said:

interest rate usually locked before 60 days from closing until and unless you buy extended lock

so last yr sign chesi, if your closing date extending ante you will be screwed, paying more Interest and high inflation rate price.. so people who was able to close last year are real winners. Every one I know are saying interest rates are cheap buy home like that but key is timing.. which no one told me.. any way looks its not easy to time market and benefit.. you have to take risk and luck should fall in place.. 

[vishesh]

20 hours ago, rahul12 said:

bro 5 months back house sign chesa builder gadu inka em work start cheyatle chusthunte inko 1-1.5 years ayela vundi 5% down chesa 

interest rates are going up initial ga sign chesinapudu beyond my budget vellina interest rates up avadam valla  emi inka increase ayela vundi....

em cheyalo artham avatledu...

 back out avuthe money poinatlenaaa..?

 

Lawyer is the only person who can help you if you want your earnest money back. Find some one best from your friends and relatives in your area.

[AndhraneedSCS]

Do not backout yet.

 

Decide on it once the house is ready. You may be able to make a table profit by just selling it right after you buy it (depending on home prices at that time). If home prices fall, your situation wont change between now and then (as you have to lose your deposit money in either case)