Upgrades and change orders paid outside closing

[sail143]

I know of a subdivision where the under reporting of the true finished home and actual cost resulted in a re-inspection and re-assessment of all the homes. Upgrades after the initial inspection can be a real problem that will never be solved.

 

[Mile High Trout]

You've got a major client problem on your hands.

Reccomend consulting with the builder and lead salespersons (of which there are usually only a handful who work the entire new construction project), and advise them that these sales reporting methods will hurt the ability of secondary market participants and current buyers/owners who may need to sell out of the market or who may want to refinance in the near future. This inaccurate reporting can lead to systemic data issues and undervaluation indicators. That's not o.k. when it comes to the needs and rights of the secondary market participators, which will undoubtedly include the current owner base. What about their investments?

Unacceptable assignment conditions.

 

[Mile High Trout]

A few have rolled it into the sale prices so they can finance it.

She said that she feels like the amount of money paid should be what's reflected in the final MLS as the sales price, but she's been told not to do that by the boss.

Keep us updated. I predict someone will get a penalty.