Quote:
Originally Posted by tomwed
I'm not surprised. I wasn't here but I heard quite a few stories when houses were in demand that you would get a phone call from a salesman that said you have 45 minutes to decide if you want a house that you haven't seen.
If your friend bought into the dream he will do what they say. Tell him to buy a resale. He may feel like he has more control.
|
That is how it was with us back in 2008. You found a house and they would put a one hour hold on it for you to decide. Then if you found another you liked better they would call and take the hold off the other one and put the hold on the new one. You were pretty much at their mercy with how it was handled. They decided how much up front money they needed and it was substantial. We closed with Citizens bank because they told us that if we went with another bank they may not meet the closing requirements and the deal might fall through. They strong-armed us into using Citizens.