It was never sold, so why it has tax record? Does builder pay property tax for their model home?

Is this a re-sale. You said you signed with builder.

How do you get this estimated 400k cost number? Only builder know how must it costs.

In this market, to buy a house, it does not matter how much it costs to build or how much its previous sold price. You shall do your own research to find a reasonable price range. If you can not get the deal from builder, then try REO and short sales. All you need is patient. The right house with right price will come to you eventually.

To me, in the area you are looking for, the right price is $600k for a 2000 sqft Single Family Home. If it is for a townhome, I will knock off 15% from price. If I can not get it now, I will wait until I can. I believe I will. Likely within 6 months.

AH! You DON"T have a signed contract. Then the seller can come back with a counter. You just have to decide either yes accept or either no, end the deal totally or no, but go back with YOUR counter to their counter. When both parties agree and sign, then you have a binding contract... Check with your financial institute regarding a quicker closing date and if it's possible to procure a mortgage in that short a time frame or include a "contingent upon obtaining suitable financing" contingency clause. I do agree with the previous answers, sounds as if you do not have representation by a realtor - - go hire one. It'll save you money and peace of mind. That's our job!

If you and the seller(the builder) have BOTH signed the contract you have a legally binding contract. They cannot come back with a counter offer after the contract has been signed with an agreed upon purchase price.

What are the contingency time frames in the contract? The standard time frame in a contract is 17 days for the loan contingency. Also unless this was written in the contract you are not required to meet a two week time frame for close of escrow.

Do you have a Realtor representing you or are you going directly through the sales office?

It sounds like you may want to have someone review the purchase agreement to determine what time frames and pricing were agreed to in the contract. I would suggest you contact an attorney to help you review the contract to determine what was legally agreed to by you and the builder.

Good luck to you,

Lisa Cartolano
Alain Pinel Realtors

So it is not a contract at all. It is just a offer.

it doesnot have grace period. actually seller didnot sign this yet.

Maybe this contract has a grace period. Normally it is 3 working day.

Everyone is missing the boat here.
1) You indicate you HAVE a signed purchase contract. That is now a legal and binding document. Contact an attorney.
2) You state the seller, after signing a purchase contract, was to bump the price up another $10K;
3) Go back to #1 above,,, you already have a legal contract between buyer and seller. For the seller to start countering an already binding contract is a RED flag to me,, should be one to you too. If you are not represented by a real estate agent, I strongly suggest you contact a qualified real estate attorney to review your contract and give you the proper LEGAL advise. We are licensed realtors, not licensed to give legal advice.
Hope it all works out for you!
Tina Evans, Principal Broker

Hi Vv,
KK is right who is this builder and what price and type of property are you talking about? Are you talking about Saville? We just recently closed a deal for a Saville home which is why I asked. You can reach me directly at ajcohen@apr.com.
Thanks,
AJ Cohen

Not a great deal. Some bank owned single house for that size was recently listed for around $600k. I will only pay $499k for this one.

I you still want the house, just say NO to their counter. They most likely will honor the original contract. If you want back off, this is the perfect chance. Just say NO and get your deposit back.

Can you give some detail about the property and price on it. Maybe people's here can give you some advice about whether it worthes or not.

Call the rep. State that you want their counter in writing. Advise the rep that if the seller doesn't go forward at the agreed upon price, you walk.

There is no better negotiation tactic than smiling and saying nothing else except, "no."

Give the builder a call. Tell them you reject their counter offer and get back you deposit. Once they counter, the previous contract you signed on shall automatically expire. But that is weird that builder counters after contract is signed. Are you sure that is the official purchase contract that you have signed on?

If they countered, you can back off legally. At this condition, you better back off. There are now plenty of selections of REO/short sales in that area. Shappel's price is still stubborn high.

It sounds to me like you are dealing with the representative from the building company. If so, you are an unrepresented buyer. If a counter offer is on the table, you may have the option of rejecting it. Without seeing the actual contract, I can't tell what rights you have already signed away. Get a consultation with a local realtor to see if it's too late for you to have representation. This happens often, especially with new home construction. Buyers get so excited about getting into one of the new homes that they don't think about protecting their interests. The builder is also the owner/seller and their representatives are acting in their best interests as a listing/seller's agent. As a buyer, you have no representation protecting your interests in this scenario. Don't sign anything else, or even talk to the builder and their agent(s) until you get your own representation. To do this, you need to sign an Exclusive Buyer's Agency Agreement with a realtor you select. This agreement obligates that realtor to act in your best interests and gives the realtor the authority to negotiate on your behalf. It also allows the realtor to offer you their professional opinion regarding the transaction and all things related to any real estate you are interested in. Hopefully it's not too late. Best wishes.

You can refi anytime you want.

Then counter them back with 20k less.