I'm under contract for a new build and the entire process has been a disaster. Now, I'm at the point where I want nothing to do with the property. The builder won't allow me to back out of the contract without giving up my full deposit amount (structural, base, and design) of slightly over $15k.
Does anyone have any experience with:
1. Selling a house being built - my assumption is I can't list until I take possession post-closing, but I'm not familiar enough to know for sure. I'd rather list it before it's even complete so I can potentially find someone to purchase immediately (provided there's no condition in the contract or with my lender of a minimum amount of time I need to occupy the property).
2. Picking up on that first item, is there any sort of option out there in the real estate world that would allow someone to 'take over' my obligation instead of me closing and then selling it to them? For example, the home being built is one of the last on a desirable street. If the salesperson has someone who wants the floor plan and is willing to take the selections already chosen, would the builder allow them to assume my contract and release me in place? I'm assuming even if this is an option, they'd need to match the deposit amount so that the builder is still balancing line-to-line. I would even go so far as to let the builder keep my deposits in place until closing (at which point they were crediting them back to me anyway) so that the new buyer wouldn't have to pay any deposits or other fees until closing when they pay whatever is due to their lender for the mortgage.
Any ideas or advice welcome. If I wasn't bald, I'd be pulling my hair out.
Rk
