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The uncertainty of the condominium market has prompted two major projects to offer new buyers a pricing guarantee.

In Seattle, The Olive 8 / Hyatt Hotel project is ensuring that buyers in Seattle’s tallest residential tower receive the lowest price possible as the market continues to fluctuate by offering a price guarantee to new buyers. Should the same floor-plan within Olive 8‘s remaining inventory sells for less than the current price prior to closing, the buyers who contracted for a higher price home will benefit at closing with the equivalent discount to their price.  Olive 8 is currently 80% sold with completion anticipated early next year.

Across Lake Washington, Bellevue's tallest condominium project, Bellevue Towers, is also offering a similar price protection guarantee.  This program guarantees that the price of a home purchased now will be appropriately adjusted at closing if similar homes are subsequently sold for less than the current list price.

 

 
This post has been included in Washington Information King County, WA Information

1 Comments on New Construction Price Guarantees

Ben.. We have a very large P.U.D just outside of Salt Lake City where 8 of the 9 builders have put a similar plan in place. It's a good Idea. We don't know how it will work, but it is an interesting concept.

03/19/2008 05:13 PM by Corie Seymour Salt Lake Real Estate (Group1 Real Estate)


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Real Estate Agent: Ben Kakimoto - Seattle Condo Specialist (John L. Scott - Seattle | Belltown)
Ben Kakimoto - Seattle Condo Specialist
Seattle, WA
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John L. Scott - Seattle | Belltown

Office Phone: (206) 295-4683
Cell Phone: (206) 295-4683
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Ben is a Seattle condominium specialist located in downtown Seattle and is the founder and author of the popular Seattle Condo Blog

Ben also maintains the Seattle real estate blog - Seattle Housing Buzz.

Ben specializes in urban Seattle real estate.







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