Topic: Home Owner Warranty - Why You Don’t Want to Buy Directly From A Builder

The message is, don’t buy a house — buy its builder. If your house isn’t built yet or is already finished, have the inspector or contractor look at other houses the developer is in the process of building. You will be given numerous deadlines (to make deposits, agree to design changes, get loan approval, sell your present house, and close escrow), but the developer will have great leeway — sometimes up to a year from the target date — to deliver the house. If you must close escrow because you need to move in, but significant and costly work remains, insist that the necessary funds be taken out of what you’re paying the developer and placed in a trust account after escrow closes. read more

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