Matthew
02-26-2008, 10:02 PM
More home builders are offering limited protections against losses to help worried buyers sleep at night.
To woo anxious buyers, KB promises if it lowers prices during the three or four months between a signed sales contract and finished construction, the buyer will get the lower price. The same applies to interest rates: If an original locked rate drops while the buyer's home is being built, the buyer can "float down" to the lower rate.
Reno-based Pacific West Cos., builder of townhouses and condominiums, has taken the KB offer a step further. It's telling customers if they buy today and the builder drops prices before the development is finished - even as far out as two years - they'll be reimbursed for the difference.
The deal is being offered at two of the builder's condo communities in Folsom and El Dorado Hills, and also in Reno and Fresno. The Folsom and El Dorado Hills projects already sell in the low $200,000s.
To woo anxious buyers, KB promises if it lowers prices during the three or four months between a signed sales contract and finished construction, the buyer will get the lower price. The same applies to interest rates: If an original locked rate drops while the buyer's home is being built, the buyer can "float down" to the lower rate.
Reno-based Pacific West Cos., builder of townhouses and condominiums, has taken the KB offer a step further. It's telling customers if they buy today and the builder drops prices before the development is finished - even as far out as two years - they'll be reimbursed for the difference.
The deal is being offered at two of the builder's condo communities in Folsom and El Dorado Hills, and also in Reno and Fresno. The Folsom and El Dorado Hills projects already sell in the low $200,000s.