The Pros and Cons of Buying a Newly Built Home

According to Trulia’s latest survey, twice as many people prefer new homes to existing homes. “New” means exactly that: brand-new properties that have never been lived in before, or homes purchased in the preconstruction phase. On the flip side, “existing” homes are preowned properties, most of which were built between the 1920s and the 1970s. …

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Closing delays costly when buying new home

Q: I have signed a contract to purchase a newly built home. The homes have been on the market for 420 days. My lender is having issues meeting the closing date agreed upon, and now the builder is charging me $300 per day for each day closing is delayed. Do I have any legal recourse …

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