1,870,353
That's how I think many of their deals are blown by contingencies. Depends on the market in that particular area. If the buyers try to sell the house themselves - all bets should be off.
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Barbara Todaro
Franklin, MA
-
Fred Griffin Florida R...
Tallahassee, FL
4,736,519
"Should"?
It likely depends on the individual market but I would think most builders wouldn't want to accept the "risk" involved.
-
Kathleen Daniels, Prob...
San Jose, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Barbara Todaro
Franklin, MA
-
Lyn Sims
Schaumburg, IL
3,416,372
No, most new homes are custom, so building a home to one's tastes and have them back out because their home didnt sell is very costly. Most often my builders will accept a contingency on a too be built home, where they do not start until the home is sold. Here we have a great shortage of new homes and cn sell them as fast as they are built
-
Debe Maxwell, CRS
Charlotte, NC
-
Lyn Sims
Schaumburg, IL
-
Nina Hollander, Broker
Charlotte, NC
2,249,044
Problem is that there is too financial risk to break ground on a highly personalized home (not knowing if buyers can sell).
-
Michael J. Perry
Lancaster, PA
759,482
This depends on the market. We are seeing more and more contingent offers being accepted. With new construction, the most extreme I have seen accepted recently has been contingent on close of escrow of a property already in a deal.
-
Debe Maxwell, CRS
Charlotte, NC
2,443,905
as with everything in real estate.... it depends - on the market and the home to be sold and the new construction price point
-
Debe Maxwell, CRS
Charlotte, NC
1,231,853
Depends on market and current demand.
-
Debe Maxwell, CRS
Charlotte, NC
1,157,841
Each builder makes their own decisions regarding which offers to accept based on their own goals and objectives.
-
Debe Maxwell, CRS
Charlotte, NC
2,707,737
Only with a seriously large non-refundable deposit.
-
Lyn Sims
Schaumburg, IL
6,001,939
I think it is up to the seller's motivation. If they HAVE to move quick, maybe not.
5,273,859
It really depends on the local market. If I were a builder I wouldn't want to accept the risk..just like my sellers don't like to accept the risk with contingencies.
4,434,227
1,538,284
Builders and sellers do the same thing. Really depends on the market and the contingency.
3,429,782
I think that depends on how close the builder is to completing the home. All of the contingency addendums I have seen have parachute clauses to protect the builder.
1,261,933
In our area, do not ask automatically denied. Only serious buyers are considered.
3,074,389
5,480,749
If demand is strong, why bother? If the market is slow and a quick kickout clause is used, maybe!
1,009,128
Depends on the market and the builders - in my area they don't negotiate at all
1,618,024
1,751,537
8,148,067
4,273,331
6,684,621
4,322,035
Justin Arlequin - well, depending on how fast the homes are selling, the builders do have a right to refuse buyers with home sale contingency.
3,988,138
I think it is totally up to them and their business model. If they have limited inventory then I can see they may not want to tie up their homes with contingencies.
1,446,956
If the market is hot, they don't need to. When it cools, and it always does, home sale contingencies will be back.
2,234,859
3,763,935
3,986,473
It is a personal decision, but Mine will at times take a contingency with a good amount down and with a solid end date
5,485,791
Here in Charlotte, that is a routine thing - it typically takes longer for the build than for their existing home to sell. So, the developers don't have a problem with it at all!
789,124
A builder should be acting in their own best interest. A slower market opens the door for taking a sale of home contingency but if homes are selling quickly they most likely wouldn't want to tie up their inventory. They shouldn't do anything that loses them money.
4,800,282
352,976
Why should they? It's a huge risk for a builder or anyone to accept a contingency on the sale of a home. Some however will consider if the home is close to closing escrow. If they won't it's for their protection and buyers will need to figure something else out.
Often there is plenty of time if the new construction home is not finished and the buyer can plan a sale to coordinate the close or a possible lease back. Otherwise, they sell, close and go into a temporary lease and storage. If they are motivated there is always an option.
509,499
Many builders in my area do not accept contingencies. It's a very hot seller's market and they know it.
5,584,639
absolutely NOT.... builders are carrying a big nut and can't rely on questionable deals.... mine would not start building a CUSTOM HOME until all contingencies were satisfied.... they would not take a contingency on a spec home....and I agreed fully....I also took a 10% deposit for a CUSTOM HOME and my builders used it to build.... the buyer needs skin in the game to keep them honest....
2,847,669
If an in-house team handles both sales...yes to doing this on some inventory
5,309,783
Not sure why builders should or need to accept contingent contracts, especially if their product is selling. They have to make the same business decision individual sellers need to vis-a-vis sale contingencies. In my market sellers don't typically accept these regardless of how strong or weak the market might be.
922,119
1,713,581
Depends. If it is under construction no, but finished with a kick out clause in the contract can be acceptable.