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| Negotiating http://www.hawthornevillager.com/phpbb/viewtopic.php?f=1&t=3031 |
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| Author: | sicsol [ Tue May 09, 2006 8:04 pm ] |
| Post subject: | Negotiating |
Hey Guys and Gals. Need your Imput. I'm about to sign this Saturday on a New Semi in Hawthorne. Can you negotiate with the Builder for any Freebie, ie A/C Potlights or maybe a Garage Door to the House. If so, what are a few things your guys were able to get. Your imput before my big day as a first time home owner is greatly appriciated Also, When is it a good time to Negotiate if you can. Thanks, |
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| Author: | kf095 [ Tue May 09, 2006 9:33 pm ] |
| Post subject: | |
Good time will be as soon as the interest rates will be again around 10%. |
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| Author: | hockeymortgagemom [ Tue May 09, 2006 10:19 pm ] |
| Post subject: | |
10% interest rates??? I'm sorry....maybe it's because I'm overly stressed...but I can't resist the urge here..... 
Not going to happen. (In my opinion, nor many economists) Purchase with confidence....you are buying your home.... Jessica 
(Damn, why didn't I have that glass of wine tonight?? haha) [/quote] |
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| Author: | Matt [ Wed May 10, 2006 5:39 am ] |
| Post subject: | |
I see it going up to 10% or higher, not sure of the timing though. Too many economists and bankers say that it will never go that high because too many people have too much debt in their new homes and high rates will collapse the economy. I do not subscribe to that theory. Rates will go up, but now is not the time to panic about it. Matt |
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| Author: | sicsol [ Wed May 10, 2006 6:29 am ] |
| Post subject: | |
Thanks for everyones imput. Looking forward in living in the Hawthorne Village. |
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| Author: | hockeymortgagemom [ Wed May 10, 2006 6:58 am ] |
| Post subject: | |
Quote: It would be easier to tell you EXACTLY when the Leafs will win the Cup next than ultimately predict the flow of interest rates over the coming years.
See!!! I told you rates weren't going to go up that high!!! haha 
Jessica
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| Author: | dakaardian [ Wed May 10, 2006 7:33 am ] |
| Post subject: | |
GregoryL wrote: It would be easier to tell you EXACTLY when the Leafs will win the Cup next than ultimately predict the flow of interest rates over the coming years.
 Predicting the Leaf's win is the easiest thing: NEVER |
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| Author: | matteo [ Sat May 13, 2006 5:20 am ] |
| Post subject: | |
Having read all the above ... quite true …. even so here are a few points to consider where you will get some agreement from Mattamy PURCHASE CONTIGENT UPON Before signing on the dotted line make it contingent upon - your arranging financing - legal review by your lawyer. You are generally given 7 days or so for this. If there is any problem you can usually back out. Your lawyer will tell you, much like the previous posts that it is a sellers market so there is little room, that is very little room, to negotiate. However; there are a few points that just about everyone gets changed ADVANCE OF CLOSING DATE. There is a clause in the agreement that says the builder may change the closing date as required. This means that they also have the right to give you a later or EARLIER closing date some time down the road. Now you have no control over a later date, which is of course governed by a whole bunch of rules, but you can usually get them to remove the “EARLY PART”. This is a good thing to do if an early closing is something that would be bad for you. Things like; you have not sold your current house yet; or you are still saving to make a larger a down payment; or you just will not be ready to move before the original closing date, are all good reasons to do this. Some maximums on ADJUSTMENTS AND DEPOSITS 1) You can usually get them to cap the combined cost for water service, the installation of water meter, the connection for hydro-electric service, installation of the hydro meter, driveway paving, boulevard landscaping (this would be the tree they plant out front of your house) They would have given you some Approximate costs for these items, you just total them up and get them to agree that these items will not exceed the total Aprox cost. 2),The levy the city places on the lot may change between now and when you close. Generally you can get the builder to agree to a cap ($1000 in our case). That is if you get them to agree to a cap of say $1,000 then if the city levy goes up by $1,500, then you pay the $1,000 and Mattamy is on the hook for the other $500. Mattamy generally agrees to these items right away. Any way these are items you should go over with your lawyer. Good luck Matteo |
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| Author: | matteo [ Sat May 13, 2006 5:22 am ] |
| Post subject: | |
Having read all the above ... quite true …. even so here are a few points to consider where you will get some agreement from Mattamy PURCHASE CONTIGENT UPON Before signing on the dotted line make it contingent upon - your arranging financing - legal review by your lawyer. You are generally given 7 days or so for this. If there is any problem you can usually back out. Your lawyer will tell you, much like the previous posts that it is a sellers market so there is little room, that is very little room, to negotiate. However; there are a few points that just about everyone gets changed ADVANCE OF CLOSING DATE. There is a clause in the agreement that says the builder may change the closing date as required. This means that they also have the right to give you a later or EARLIER closing date some time down the road. Now you have no control over a later date, which is of course governed by a whole bunch of rules, but you can usually get them to remove the “EARLY PART”. This is a good thing to do if an early closing is something that would be bad for you. Things like; you have not sold your current house yet; or you are still saving to make a larger a down payment; or you just will not be ready to move before the original closing date, are all good reasons to do this. Some maximums on ADJUSTMENTS AND DEPOSITS 1) You can usually get them to cap the combined cost for water service, the installation of water meter, the connection for hydro-electric service, installation of the hydro meter, driveway paving, boulevard landscaping (this would be the tree they plant out front of your house) They would have given you some Approximate costs for these items, you just total them up and get them to agree that these items will not exceed the total Aprox cost. 2),The levy the city places on the lot may change between now and when you close. Generally you can get the builder to agree to a cap ($1000 in our case). That is if you get them to agree to a cap of say $1,000 then if the city levy goes up by $1,500, then you pay the $1,000 and Mattamy is on the hook for the other $500. Mattamy generally agrees to these items right away. Any way these are items you should go over with your lawyer. Good luck Matteo |
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