I'm so excited and I just can't hide it!!!!!

[Sbrooks1]

Not letting fear hold me back , just want to minimize any drama that might pop up ! Trying to be as informed as I can but agree there comes a point where I have to pull the trigger and just trust I have done all I can!

[Sylvrbak]

SBrooks, I did not mean to offend you, I think fear is healthy... heck I'm going for it and everyday until the keys are in my hand, I am in fear of something coming along to smash my dreams. Even though, I know I have a strong file. Heck the other day I had a dream that I forgot to pay a bill on time.... it was nice to wake up from that one... lol 

I just meant that it really is a risk-reward situation. But in order for anyone to reap the reward, we have to see the risk is worth it. But know to, I spent hours on this board figuring out if I was ready to take the risk too.... no judgement here🤗

[Sylvrbak]

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@CreditScoreChallenged wrote:

Congratulations on your journey. I am so excited for you and can't wait to see the final results. Home looks beautiful already.

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Thanks CSC, I cannot wait either, just trying to patiently await my clear to close, so I can relax!

[Sbrooks1]

No offense taken at all!! I appreciate honest discussions!!!

[Sylvrbak]

So very much wondering if I should change my tag line, but trying to stay positive. It's been a while since I have posted anything new in a while, and with good reason. Several weeks back I had to get my realtor and the builders area manager involved on the build due to some lengthy delays and problems. It has been difficult since the start of the build to get a response to concerns from the build manager and I tried to be patient and understanding, but too many things were being overlooked. Upon our meeting at the build site  I was told that they could not meet the closing date, if I wanted corrections made, well, I did not close (close date was suppose to be 12/29)  At this point, the house is basically complete as carpet, wood flooring, landscape and fencing are now in. I have decided to spend an additional 600.00 to hire a structural engineer to evaluate the property..... this is in addition to the roof and general home inspections I have planned. I am really worried that the build may have some serious issues that I did not catch at pour and framing. Please if you decide to build, have a three stage inspection done at the start of the job, I may very well have wasted 7 months. But I am prayerful that I am worried about nothing. 

[tanyagarrett]

Hi at yor purchase agreement signing how much money did you have to bring with you to sign it?  I ask because the builder I am going with is asking me to bring quite a large sum and I am not even going to go through their finance people.

[Sylvrbak]

Hi Tanya

First question I might have is, what do you consider a large sum? Most builders ask for anywhere between 1 to 5 thousand. Some request a percentage of the purchase price, my experience has been 3 percent for some of the builders I visited. To answer your question, I put 5k in Ernest money at contract signing. Make sure you do some homework about the builder and their financial situation especially if they are asking for a lot of money up front. Many buyers see just the home and their dreams of ownership, you have to remember this is a business transaction and the need to protect yourself is always there. Also, don't forget you can negotiate Ernest money, hopefully you have a realtor involved. Best of luck to you.

[tanyagarrett]

Yes....It is crazy they asked for 1000.00 to reserve the lot space and they want me to bring 24,000 when I sign the purchase agreement. I am not getting my loan from them

[Sylvrbak]

If you don't mind, can you share: Builder & Purchase price? Like I said previously, check the financial health of your builder, that is a lot of cash to plop down before even breaking dirt. If the build goes sideways you may lose that money. My home was in the low 300k range and total to close out of my pocket was approx 18k. But every deal is different and ivreceived some serious incentives in the deal.

[jamevfan]

I agree with sylvan my earnest money was 2000, and I took under 11,000 to closing  with my cash price of my home being 265,000.... sounds like a lot of upfront money. Make sure you are clear on the details because it's quite a bit upfront money that can be lost.