Sev Loss Hearing
By Charlie on Jun 16, 2010 in Hearing & Orthepedic
New Home Builder Incentive, they will buy my home?
Anyone heard of this new builder incentive? I was wondering if anyone had gone thru this or heard of it. I wont have all the details until next week but here is what I know:
In my purchase agreement for the new house he would agree to purchase my house for a specified (TBD) price if my house is not sold when we need to close on the new house. The agent thru out a number of 90% of SEV (state equalized value). Whether that number is true is a huge ??? in my eyes. Due to market conditions for new and pre-owned houses here in Metro Detroit builder seem to be doing anything to get people to buy new houses.
Anyone gone thru this process, heard of this incentive? What is the catch? Is the builder willing to buy my house and possibly take a loss just to sell me a new house and continue building houses?
Any advice on how to go about the meeting with the builder next week?
Builders offer many different incentives, and yes they will take a loss if they need to. 90% of fair market value would be decent. I don’t know about SEV unless that is assessed value from the county assessor. That figure may not be accurate when compared to fair market value.
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