Luxury Real Estate Agents or Investors: Is making an offer during construction wise?

Question

We are considering the purchase of a home that is currently in the construction phase in Orange County, CA. It is listed in the MLS but construction is tarrying and/or delayed (maybe plan changes, permits, or perhaps in hopes of solidifying an offer before completion). Regardless, it has been just under 3 years and the home price has nearly doubled. If we make an offer lower than the asking price, is the builder/seller obligated to complete it per the amenities, permits and plans? What safeguards would we have to ensure that the builder would not cut corners? The cost of the home will be prohibitive for most, so we are not concerned about offers at this time. Is it unwise to offer pre-completion? Please, only Professional and experienced investors and/or agents.

Answer 1

It would give you the opportunity to have features you want.  Have you checked the prices of comparable existing homes to make sure you are not overpaying?

Answer 2

The best way to do this is to demand inspections at every phase. And put your building specs on contract. If you want the builder to complete the project. If you want to do it yourself, you can do that too and obtain an owner/builder loan. This is where I incidentally come in. Check out my website www.diyownerbuilder.com

Answer 3

1. nu hous prieses in orange kountee droppin like a rok.

2. Many nu subdivishuns...bilder stop kauz kant sell...kompleted houses sit a yeer B4 it sell