Have you read a new home Builder Contract and wondered why it's so one-sided and wanted to know if you can do anything about it? I will explain why ALL home builder contract are one-sided and what you can expect for this.
Transcription
Hi everyone, this is your Tampa Bay realtor Lance Mohr and in this video, I want to talk about why builder contracts are so one-sided and is there anything you can do about it and for those of you who actually read the builder contract, you know how one-sided they are. They lean completely toward the builder and not toward the purchaser. We are going to talk about that in this video.
Over the years I’ve read a lot of builder contracts from huge national builders to small little builders. It seems like they're all virtually the same. The one thing they all have in common is there very one-sided. It's almost like there a boilerplate contract and they just look out for the builder’s best interest. There is a reason for this. You have to look at things the way the builder looks at it when you’re buying a home and there in business to build a home and get it sold. They’re not a business to kick people out a contract even though you read one of their contracts and you look at it they have some normal stuff in there that will be in a regular real estate contract. Like you have so many days to get a home loan or you get your earnest money back and you have so many days if you have to fill out an application for the loan and stuff like that. But then a lot of them have some really weird things. Like it could take them 2 years to build. You’re thinking, what the heck out is that about or they kick you out a contract for basically any reason. You’re like why, oh my gosh I don’t want to be kicked out of the contract what’s going on there.
If you look at it from where the builders coming from and think of it this way, they are on the job to build homes and sell homes not kick people out of contract. A lot of times the reason why that's in there is because they need to protect themselves. I've had this happen before and I’ve head the stuff like this happening where they've called builders call that the buyer and said hey I know this you’re out in front of the home with the kids and you’re walking around and you don't have a hard hat on. You can’t take kids on the job when the workers are working and there telling people this over and over and over again. Well if People continue to do that, if buyers continue to do that will probably have to kick you out of the contract because if OSHA comes by and they see something like that, the builders are going to get slapped with huge fines. So just work with the builder and understand why they are telling you this stuff.
If you have any question about new hoes or new home builders in Tampa Bay, FL please contact me.
