4 Closure Ranch Escape Routes?

[cyphire]

I would think that everyone who is considering knife catching would read this above thread.

The emotional, wine and dine, telling everyone how rosy the future is, and what best friends the 4S salesmen are, all changes when the ink is dry and there are second thoughts.

Now they are the enemy, keeping a deposit on a home which has not yet, in fact, been occupied.

I learned the hardway in business after 20 years, that if a buyer gets cold feet, just give them back all the money. My situation is different, in that I would actually have installed a computer system, trained the client, spent large amounts of money, but same deal… If the buyer has remorse, try to hold your line but ultimately you are destroying your goodwill if you try to keep the deposit, and more if they are forced to keep the home or have financial responsibility for it.

Buyer beware!!! Don’t buy unless you are 100% totally behind the purchase – or have the mother of all escape clauses. Desperate times call for desperate measures, and these builders are hanging by a thread.

p.s. All the builders are at their lowest confidence ever. None of them expect any 2008 rebound, I think they just want to weather the storm.

[cyphire]

I would think that everyone who is considering knife catching would read this above thread.

The emotional, wine and dine, telling everyone how rosy the future is, and what best friends the 4S salesmen are, all changes when the ink is dry and there are second thoughts.

Now they are the enemy, keeping a deposit on a home which has not yet, in fact, been occupied.

I learned the hardway in business after 20 years, that if a buyer gets cold feet, just give them back all the money. My situation is different, in that I would actually have installed a computer system, trained the client, spent large amounts of money, but same deal… If the buyer has remorse, try to hold your line but ultimately you are destroying your goodwill if you try to keep the deposit, and more if they are forced to keep the home or have financial responsibility for it.

Buyer beware!!! Don’t buy unless you are 100% totally behind the purchase – or have the mother of all escape clauses. Desperate times call for desperate measures, and these builders are hanging by a thread.

p.s. All the builders are at their lowest confidence ever. None of them expect any 2008 rebound, I think they just want to weather the storm.

[cyphire]

I would think that everyone who is considering knife catching would read this above thread.

The emotional, wine and dine, telling everyone how rosy the future is, and what best friends the 4S salesmen are, all changes when the ink is dry and there are second thoughts.

Now they are the enemy, keeping a deposit on a home which has not yet, in fact, been occupied.

I learned the hardway in business after 20 years, that if a buyer gets cold feet, just give them back all the money. My situation is different, in that I would actually have installed a computer system, trained the client, spent large amounts of money, but same deal… If the buyer has remorse, try to hold your line but ultimately you are destroying your goodwill if you try to keep the deposit, and more if they are forced to keep the home or have financial responsibility for it.

Buyer beware!!! Don’t buy unless you are 100% totally behind the purchase – or have the mother of all escape clauses. Desperate times call for desperate measures, and these builders are hanging by a thread.

p.s. All the builders are at their lowest confidence ever. None of them expect any 2008 rebound, I think they just want to weather the storm.

[SD Realtor]

cyphire good to see you back!

SD Realtor

[SD Realtor]

cyphire good to see you back!

SD Realtor

[SD Realtor]

cyphire good to see you back!

SD Realtor

[SD Realtor]

cyphire good to see you back!

SD Realtor

[SD Realtor]

cyphire good to see you back!

SD Realtor

[1HOPE4U]

After reviewing his docs my buddy says that the only contingency he’s found in regards to loans is at the front end–pre approval for loan within a short period after he’s signed the purchase contract. However, he signed the purchase contract back in June.

He did say that there are statements that the “seller may refund the deposit if he defaults…” but that is so vague and noncommittal. “May” carries a lot of uncertainty and unexpressed conditions. Hoping my friend does recoup those funds and I for the life of me, cannot see how someone in their financial situation should be penalized for bowing out of a loan. They’ve made the mistake of falling for that trap but are acting responsibly to pull themselves out of a greater disaster.

He probably does need to speak to a good real estate lawyer…any recommendations on who he can contact? I believe the builder he’s affiliated with is either Pulte or John Laing Homes. Thanks guys for all your insights.

[1HOPE4U]

After reviewing his docs my buddy says that the only contingency he’s found in regards to loans is at the front end–pre approval for loan within a short period after he’s signed the purchase contract. However, he signed the purchase contract back in June.

He did say that there are statements that the “seller may refund the deposit if he defaults…” but that is so vague and noncommittal. “May” carries a lot of uncertainty and unexpressed conditions. Hoping my friend does recoup those funds and I for the life of me, cannot see how someone in their financial situation should be penalized for bowing out of a loan. They’ve made the mistake of falling for that trap but are acting responsibly to pull themselves out of a greater disaster.

He probably does need to speak to a good real estate lawyer…any recommendations on who he can contact? I believe the builder he’s affiliated with is either Pulte or John Laing Homes. Thanks guys for all your insights.

[1HOPE4U]

After reviewing his docs my buddy says that the only contingency he’s found in regards to loans is at the front end–pre approval for loan within a short period after he’s signed the purchase contract. However, he signed the purchase contract back in June.

He did say that there are statements that the “seller may refund the deposit if he defaults…” but that is so vague and noncommittal. “May” carries a lot of uncertainty and unexpressed conditions. Hoping my friend does recoup those funds and I for the life of me, cannot see how someone in their financial situation should be penalized for bowing out of a loan. They’ve made the mistake of falling for that trap but are acting responsibly to pull themselves out of a greater disaster.

He probably does need to speak to a good real estate lawyer…any recommendations on who he can contact? I believe the builder he’s affiliated with is either Pulte or John Laing Homes. Thanks guys for all your insights.

[1HOPE4U]

After reviewing his docs my buddy says that the only contingency he’s found in regards to loans is at the front end–pre approval for loan within a short period after he’s signed the purchase contract. However, he signed the purchase contract back in June.

He did say that there are statements that the “seller may refund the deposit if he defaults…” but that is so vague and noncommittal. “May” carries a lot of uncertainty and unexpressed conditions. Hoping my friend does recoup those funds and I for the life of me, cannot see how someone in their financial situation should be penalized for bowing out of a loan. They’ve made the mistake of falling for that trap but are acting responsibly to pull themselves out of a greater disaster.

He probably does need to speak to a good real estate lawyer…any recommendations on who he can contact? I believe the builder he’s affiliated with is either Pulte or John Laing Homes. Thanks guys for all your insights.

[1HOPE4U]

After reviewing his docs my buddy says that the only contingency he’s found in regards to loans is at the front end–pre approval for loan within a short period after he’s signed the purchase contract. However, he signed the purchase contract back in June.

He did say that there are statements that the “seller may refund the deposit if he defaults…” but that is so vague and noncommittal. “May” carries a lot of uncertainty and unexpressed conditions. Hoping my friend does recoup those funds and I for the life of me, cannot see how someone in their financial situation should be penalized for bowing out of a loan. They’ve made the mistake of falling for that trap but are acting responsibly to pull themselves out of a greater disaster.

He probably does need to speak to a good real estate lawyer…any recommendations on who he can contact? I believe the builder he’s affiliated with is either Pulte or John Laing Homes. Thanks guys for all your insights.

[cyphire]

Thanks SD Realtor!

[cyphire]

Thanks SD Realtor!

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