Hey all of you! I have a question…
We have the chance to lock in a 4% interest rate for 30 days, BUT if we have to extend that term, it would cost us about $650. The builder told us that our closing date would be September 20. So we could lock this rate BUT would have to close by September 21.
My question is, would the builder need to cover this $650 if the closing date is pushed back because of them? I ask because they just figured out today that the brick they ordered (and which is sitting in our new front yard), is the wrong brick. It will take 5 days to get our actual brick, but they can keep working on the inside apparently.
What do you think? Would they be liable for the $650 or do we just sit around and settle on whatever rate we can in a week or so? Would it work to threaten them and just say that they either cover the $650 if they run behind or we back out?
FYI: I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year. I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home. If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!). Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!