A week go we wrote a contract on a new home in North Metro Atlanta. The contract was accepted a day later with one upgrade being eliminated. No problem, the purchasers agreed. Closing was (note was) scheduled for late November. One week later the onsite agent called and said the builder miss figured what he owed on the home. OK, that's his problem. No, he is not going to close unless your clients purchase at the original list price (!!!!????). Well that's ******, tell him we will see him at closing. The builder said he is exercising a clause in the contract to back out. What clause? You mean the one where he can back out if the purchasers are driving him crazy? Yes, well that's ******. This subdivision had been offering $15,000 discount to be used any way purchaser desires, they had to pull that back, seems he cannot sell the homes for profit with that incentive. So now we have an appraisal for more than the agreed price but less than what the builder now says he has to sell for. He said he asked the bank for a short sale but they would not do it. Sounds like a bunch of ******* to me, the poor onsite agents did not have a clue what the builders position was, this is gonna get ugly!!!
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