Second thoughts about new build delays with Century (NC)

TL/DR: Currently staying in our (sold) home until end of August. Century new home will not be ready until mid-September due to delays. Another home is available sooner (not Century) that we like better and is closer to work. What are our options?

My family decided to put our home on the market a couple of months back, due to the spike in home values. We wanted something larger than our 3/2 1500 sqft home on a 1/3 acre lot, so we looked all around our area. Many of the homes that we liked on Zillow would have issues we noticed immediately upon an in-person visit, or the prices were much higher. (In our area, like many others, homes typically were selling above list price.)

We had found a new Century community that was in development in a nearby town, but initially they told us they didn’t have any homes that would be available in the July/August timeframe that we were hoping for. We were told that the homesites would typically be sold 6-8 months out from completion, and that any homes that weren’t yet sold wouldn’t be available until much later in the year.

The representative from Century later called us to let us know they’d had a cancellation, and that we could go take a look at the site and see what we thought. This home was expected to be finished in mid-July (this was in May when we first listed our home for sale). We went to see the home at that time. It was framed up and had some insulation in place. I asked the sales rep, and he said if they hadn’t started drywall yet, that it might be more like mid-August.

We spoke with our realtor, and decided to ask for a lease-back option on our home with any offers. We got an offer that allowed us to stay in our current home rent-free until the end of August, which worked out perfectly. We put down the deposit ($2000) and went under contract on the new build. We were given a closing date of 8/29, which would be tight, but was doable.

Since then, I’ve driven out to the site once a week to check progress. The drywall was not up until about 3 weeks ago, then they poured the driveway, and last week they finally had the drywall mudded and kitchen cabinets in place. I kept in contact with the sales agent, and was told everything was on schedule. I told him to let me know if there were any delays so we could figure something out.

Yesterday morning, my realtor (who is copied on every official email I get from the seller or lender) texted me to ask if I’d seen the new email yet. I opened up my inbox on my phone, and saw the following:

“Good morning Mr. and Mrs. Ducktapedaddy,

My apologies. Due to some trade delays, we have to move your closing date to 9/16. Meaning your first walk will be on 9/12. We have advised your lender… ”

Our realtor has reached out to ask about the nature of the delays, and the response was basically “we’ll get back to you.” That’s the last we’ve heard.

Our realtor was able to work out a deal with our home’s new owners (we closed on that sale near the end of July) keeping us in the old home until 9/16. We’re paying them $1000 to stay longer. Our biggest concern is whether there will be further delays.

Yesterday, after getting the bad news, we found out that another builder has a home that is more expensive but still in our price range. That home is almost entirely complete and is not sold. It’s also closer to work and family, and is a larger home, nicer home, and on a larger lot. The price per square foot is actually lower than the Century home, and the home has overall better features.

At this point, can I back out of the Century home, and pursue this other home? Would I have any penalties beyond the $2000 deposit I’ve already submitted to the company? Thank you for reading!

submitted by /u/ducktapedaddy
[link] [comments]

TL/DR: Currently staying in our (sold) home until end of August. Century new home will not be ready until mid-September due to delays. Another home is available sooner (not Century) that we like better and is closer to work. What are our options? My family decided to put our home on the market a couple of months back, due to the spike in home values. We wanted something larger than our 3/2 1500 sqft home on a 1/3 acre lot, so we looked all around our area. Many of the homes that we liked on Zillow would have issues we noticed immediately upon an in-person visit, or the prices were much higher. (In our area, like many others, homes typically were selling above list price.) We had found a new Century community that was in development in a nearby town, but initially they told us they didn’t have any homes that would be available in the July/August timeframe that we were hoping for. We were told that the homesites would typically be sold 6-8 months out from completion, and that any homes that weren’t yet sold wouldn’t be available until much later in the year. The representative from Century later called us to let us know they’d had a cancellation, and that we could go take a look at the site and see what we thought. This home was expected to be finished in mid-July (this was in May when we first listed our home for sale). We went to see the home at that time. It was framed up and had some insulation in place. I asked the sales rep, and he said if they hadn’t started drywall yet, that it might be more like mid-August. We spoke with our realtor, and decided to ask for a lease-back option on our home with any offers. We got an offer that allowed us to stay in our current home rent-free until the end of August, which worked out perfectly. We put down the deposit ($2000) and went under contract on the new build. We were given a closing date of 8/29, which would be tight, but was doable. Since then, I’ve driven out to the site once a week to check progress. The drywall was not up until about 3 weeks ago, then they poured the driveway, and last week they finally had the drywall mudded and kitchen cabinets in place. I kept in contact with the sales agent, and was told everything was on schedule. I told him to let me know if there were any delays so we could figure something out. Yesterday morning, my realtor (who is copied on every official email I get from the seller or lender) texted me to ask if I’d seen the new email yet. I opened up my inbox on my phone, and saw the following: “Good morning Mr. and Mrs. Ducktapedaddy, My apologies. Due to some trade delays, we have to move your closing date to 9/16. Meaning your first walk will be on 9/12. We have advised your lender… ” Our realtor has reached out to ask about the nature of the delays, and the response was basically “we’ll get back to you.” That’s the last we’ve heard. Our realtor was able to work out a deal with our home’s new owners (we closed on that sale near the end of July) keeping us in the old home until 9/16. We’re paying them $1000 to stay longer. Our biggest concern is whether there will be further delays. Yesterday, after getting the bad news, we found out that another builder has a home that is more expensive but still in our price range. That home is almost entirely complete and is not sold. It’s also closer to work and family, and is a larger home, nicer home, and on a larger lot. The price per square foot is actually lower than the Century home, and the home has overall better features. At this point, can I back out of the Century home, and pursue this other home? Would I have any penalties beyond the $2000 deposit I’ve already submitted to the company? Thank you for reading! submitted by /u/ducktapedaddy [link] [comments]

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