Quote:
Originally Posted by daddymac1127
If you are buying a new house, please be aware that you will need to put 10% of the buying cost to hold that house. Also be ready to close on that house within 30 days. If you delay the closing beyond 30 days you will be penalized. Ours would have been $750 a day.
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This is incorrect. The hold fee is nowhere NEAR 10%. IIRC, it's $10K.
And our (re-sale) closed in 6 weeks, just last February. New homes will probably close in 5-6 months, or more if it takes longer to set up a design appointment...