Comments on: Oakwood Homes Colorado (Denver Area)? http://www.stop42colorado.org/oakwood-homes-colorado-denver-area/ Taxes in Colorado | Colorado Tax Tea Party | Colorado Jobs| Colorado Homes Wed, 27 Jan 2010 04:53:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Sanford Rosser http://www.stop42colorado.org/oakwood-homes-colorado-denver-area/comment-page-1/#comment-166 Sanford Rosser Sun, 02 Dec 2007 15:34:25 +0000 http://www.stop42colorado.org/oakwood-homes-colorado-denver-area/#comment-166 Most builders nationwide will negotiate the purchase price of the home today. Don't feel like you have to pay sticker price when you walk into their office - you don't. Ask to make an offer and try to get upgrades (granite countertops, paint, hardwood floors, carpet, etc.) or more closing costs paid if they refuse to budge on the price. Business is probably slow for them right now and with the end of the quarter coming up at the end of December, it is a perfect time to negotiate. I'm an agent in the metro Atlanta area - http://northatlanta-homes.com - and most every builder in the area will negotiate on the price right now. Takes a little patience, but well worth it. Most builders nationwide will negotiate the purchase price of the home today. Don’t feel like you have to pay sticker price when you walk into their office – you don’t. Ask to make an offer and try to get upgrades (granite countertops, paint, hardwood floors, carpet, etc.) or more closing costs paid if they refuse to budge on the price. Business is probably slow for them right now and with the end of the quarter coming up at the end of December, it is a perfect time to negotiate.

I’m an agent in the metro Atlanta area – http://northatlanta-homes.com – and most every builder in the area will negotiate on the price right now. Takes a little patience, but well worth it.

]]> By: Mike http://www.stop42colorado.org/oakwood-homes-colorado-denver-area/comment-page-1/#comment-165 Mike Sun, 02 Dec 2007 15:32:05 +0000 http://www.stop42colorado.org/oakwood-homes-colorado-denver-area/#comment-165 I am from California . I have never dealt with the developer that you are talking about, however I have been investing in real estate in California for over 40 years. Based on my experience I have some recommendations that you may find to be very helpful. The first is to hire your own appraiser as a second opinion, sort of like getting a second opinion from a doctor before you have major surgery. The appraiser should be a member of The Appraisal Institute (MAI designation) The Appraisal Institute had the highest standards of any appraisal organization for its real estate appraisers. Also I recommend that you hire an attorney who specializes in real estate law. Direct your attorney to write your offer an incluse language that makes your offer contingent upon the appraised faoir matket value as determined by your appraiser, not the lender's appraiser or anyone else's appraiser. Also direct your attorney to include language that makes your offer contingent upon your approval of your own inspectors performing an inspection of the roof, the structure, the plumbing and electrical system and the foundation at a minimum. The language must make the contingencies removable only by you in writing, not by the passage of time. also the contingency period must be for at least 21 days to give your inspectors enough time to perform the inspections, get their written reports back to you and enough time for you to read the reports. When the appraised value comes back at less than the amount that you offered give the developer two choices: Either: 1. Reduce the contract to the fair market value as determined by your appraiser or... 2. Agree to cancel the contract and direct the escrow company to return your deposit to you. Also, when the inspection reports come back and indicate that the work was not done quite right on the roof, the plumbing, the electrical system, the structure and the foundation, give the developer two choices: 1. Either correct the problems with the roof, the plumbing, the electrical system, the structure and the foundation or.... 2. Agree to cancel the transaction and direct the title company to return the deposit. The developer will probably not agree to this language voluntarily, however there is a huge glut of houses and you are in the driver's seat. The developer needs your money far more than you need the developer's house. If the developer does not agree to do what you direct, I recommend that you find another house and tell the developer goodbye. You may show the developer, your attorney and the appraiser my response to your question. I am from California . I have never dealt with the developer that you are talking about, however I have been investing in real estate in California for over 40 years.

Based on my experience I have some recommendations that you may find to be very helpful.

The first is to hire your own appraiser as a second opinion, sort of like getting a second opinion from a doctor before you have major surgery.

The appraiser should be a member of The Appraisal Institute (MAI designation) The Appraisal Institute had the highest standards of any appraisal organization for its real estate appraisers.

Also I recommend that you hire an attorney who specializes in real estate law.

Direct your attorney to write your offer an incluse language that makes your offer contingent upon the appraised faoir matket value as determined by your appraiser, not the lender’s appraiser or anyone else’s appraiser.

Also direct your attorney to include language that makes your offer contingent upon your approval of your own inspectors performing an inspection of the roof, the structure, the plumbing and electrical system and the foundation at a minimum.

The language must make the contingencies removable only by you in writing, not by the passage of time.

also the contingency period must be for at least 21 days to give your inspectors enough time to perform the inspections, get their written reports back to you and enough time for you to read the reports.

When the appraised value comes back at less than the amount that you offered give the developer two choices:

Either:

1. Reduce the contract to the fair market value as determined by your appraiser or…

2. Agree to cancel the contract and direct the escrow company to return your deposit to you.

Also, when the inspection reports come back and indicate that the work was not done quite right on the roof, the plumbing, the electrical system, the structure and the foundation, give the developer two choices:

1. Either correct the problems with the roof, the plumbing, the electrical system, the structure and the foundation or….

2. Agree to cancel the transaction and direct the title company to return the deposit.

The developer will probably not agree to this language voluntarily, however there is a huge glut of houses and you are in the driver’s seat.

The developer needs your money far more than you need the developer’s house.

If the developer does not agree to do what you direct, I recommend that you find another house and tell the developer goodbye.

You may show the developer, your attorney and the appraiser my response to your question.

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