On 13 Apr 2006 08:24:47 -0700, Banty wrote:

In article .com, Chai says...

There are more considerations than thinking a house might fall down
(which no, I don't believe that, but structural defects, mold, and
other issues are not uncommon). One's legal recourse is extremely
limited when working with a major home builder -- one is bound by
arbitration/mediation. This is a HUGE deal and personal investment. I
believe this requires more careful thought and consideration. There is
no rush where I HAVE TO purchase right now. Yes perhaps I have classic
buyer's remorse...or perhaps more than that.

This is a community that will be 650 homes. The rollout will be over 2
years. I have some issues with my ability to resell the house (while
new homes are still being built) if I lose my job. And yes, losing my
job is a possibility as I work in a very volatile industry in a dept
that *could be* cut. I would be S.O.L. if I was in a home that
stretched my financial abilities and then I lost my job and then
couldn't easily sell because buyers have the option of building their
own BRAND NEW home. These, I believe, are valid concerns.


Sure they are, but it sure sounds to me that you should have kept renting for
awhile. Evidently you'd be very nervous about buying *any* house - these
concerns apply to *any* house.

And just about *any* buyer. You're not going to be able to argue any special
case for yourself here.

Banty


I disagree. Four months ago--after reviewing their sales contract--I
walked away from a DR Horton new-construction home. Smaller (more
local, or regional) builders are far less likely to use the "Hooray
for me and to he** with thee" contracts that the big builders are
using.

In the case of CTX, DHI, KB, etc., you have no legal assurance that
your home will stand, and no legal recourse if/when it falls.

Take a look at the JD Power customer satisfaction survey results and
you'll likely get a fair idea who treats people well, and who treats
them poorly, when the worst happens.

If you "correlate" that with the Warranty Week information about
warranty claims paid as a % of sales, you will likely figure out who
treats their customers well in the event of problems. Low warranty
claims paid either means great homes or customer-averse policies.
Looking at the JD Power data will probably give you a clue as to
which.

Don't let your emotions be your sole guide when buying from these
larger builders. Waivers of all rights, Mandatory Binding Arbitration
clauses, and the like are NOT your friend.

Take your time. Get an attorney. Get an inspector. Don't be afraid
to walk away.