DeBoss said:

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Small problem. Supposed to close next Thursday but they want to push closing 7-10 days. But my rate lock runs out Friday and rates are now .75 higher. So am i crazy for wanting to close even if there are a few small things to finish, mainly paint as the house is lovable now? The cost to not close is thousands in interest but then I lose my carrot to push the builder. Really need advice, thanks

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Tell them no if the contract is signed. Its their fault for not meeting the agreed date, not yours. Also if the work is contracted, just the the contractors finish post closing. You can also allow them to rent the home for the extra 1-2 weeks back from you post close.

FatZilla said:

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DeBoss said:

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Small problem. Supposed to close next Thursday but they want to push closing 7-10 days. But my rate lock runs out Friday and rates are now .75 higher. So am i crazy for wanting to close even if there are a few small things to finish, mainly paint as the house is lovable now? The cost to not close is thousands in interest but then I lose my carrot to push the builder. Really need advice, thanks

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Tell them no if the contract is signed. Its their fault for not meeting the agreed date, not yours. Also if the work is contracted, just the the contractors finish post closing. You can also allow them to rent the home for the extra 1-2 weeks back from you post close.

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This. Just say no.

Does any builder guarantee a closing date these days?

I had a similar issue with drainage on a new build..so I had $15,000 held back in escrow at closing for the builder to complete the work. It took a few weeks until the builder's accounting department figured it out and called me asking me to release the escrow at the tile company. I told them I would be happy to once the builder completed the drainage work as agreed. Their crew was out at the house within a week to complete the work.

If it was a subject to appraisal, then this strategy will not work as the lender will require the appraiser to certify the work was completed.

Diggity said:

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Does any builder guarantee a closing date these days?

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I do.

I guarantee if you don't close on the close date, you won't be my buyer

Well as a good update, we just closed and the threat of the penalty seemed to get them moving faster. Appreciate all the advice!