I bought a home in a brand new neighborhood after about 2 months the home builder decided to lower prices by almost 30 thousand dollars! Obviously this jepordizes my homes equity along with all the other people who bought in the neighborhood before the prices got lowered.
2006-08-10 04:37:12 · 3 answers · asked by buuyme 1 in Politics & Government ➔ Law & Ethics
The laws will vary by state, but the builder can generally sell it for whatever someone is willing to pay. Nobody held a gun to your head when you made the purchase and your value will probably increase over time.
2006-08-10 04:50:30 · answer #1 · answered by Carl 7 · 1⤊ 0⤋
Nope, You bought the house in good faith. I'm sure you had an appraisal of your home before purchaing it (a lender will not give you financing without it). It must have appraised at the value stated by the homebuilder. Don't worry your house is probably worth what you paid for it.
The people who got a reduction in price were lucky.
2006-08-10 04:43:02 · answer #2 · answered by Lodiju 3 · 0⤊ 0⤋
i don't see how.you paid what he asked he couldn't find any more people who would pay what he asked and had to lower his price is just buisness.
2006-08-10 04:43:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋