Buying a Beazer Home? 10 Contract Traps You NEED to Know
Myrtle Beach New Construction
86 views
Buying a Beazer Homes new-construction home in Myrtle Beach, SC? Before you sign the purchase agreement or put down a deposit, understand the contract terms that could affect your money, financing, appraisal, closing date, and legal rights.
In this video, I break down 10 important provisions from an actual Beazer new-construction purchase agreement for a home in the Myrtle Beach, South Carolina market.
We cover the deposit structure, when a deposit can become non-refundable, the financing-denial deadline, appraisal risk, construction timelines, who controls the closing date, potential closing-delay charges, unfinished follow-up items, options and upgrades, HOA documents, and the contract's dispute-resolution provisions.
Some of the biggest issues discussed include:
• A $62,235 initial deposit in the specific contract reviewed
• Written lender-denial notice requirements, including a 3-day deadline
• What happens after Conditional Loan Approval
• What happens when the home appraises below the purchase price
• An estimated completion date versus contractual construction provisions
• At least 3 days' advance notice of closing
• Potential $200-per-day closing-delay damages plus a $100 document charge
• Why minor follow-up items may not give a buyer a basis to delay closing
• A 10% Options & Upgrades Deposit in the contract reviewed
• HOA/community-document obligations
• Mediation, binding AAA arbitration, and class-action limitations
The purpose of this video is to help buyers understand the types of provisions they should pay attention to when reviewing a new-construction contract. Contract terms can vary by transaction, community, state, and contract version.
This video is for general educational purposes and is not legal, tax, or financial advice. Have a qualified South Carolina real estate attorney review your specific contract and circumstances before making legal decisions.
00:00 10 Things You Need to Know Before Signing
02:15 #1 Protect Your Deposit
05:30 #2 The 3-Day Financing Deadline
07:56 #3 What Happens If the Home Appraises Low?
09:34 #4 The Builder Has Up to 2 Years
11:29 #5 Who Controls the Closing Date?
12:18 #6 Construction Changes & Completion
12:59 #7 If It’s Not in Writing, It’s Not Real
13:38 #8 Upgrades & Non-Refundable Deposits
14:42 #9 HOA Rules & Documents
16:09 #10 Mediation, Arbitration & Class Actions
16:56 The 3 Biggest Contract Risks
18:19 Final Walkthrough & Punch-List Issues
18:52 Should You Have an Attorney Review It?
Thinking About Buying a New Construction home in Myrtle Beach, SC or Its Surrounding Areas?
📲 Call/Text Direct: 843-360-1737
📧 Email: brandonkunasek@kw.com
📅 1-on-1 Discovery Zoom Call → https://scheduler.zoom.us/brandon-kun...
👉 VISIT OUR WEBSITE TO LEARN MORE & SEARCH LISTINGS: https://www.myrtlebeachnewconstructio...
https://substack.com/@brandonkunasek
Visit: https://www.brandonkunasek.com
Contact:
Brandon Kunasek, Broker
Keller Williams Innovate South
Shorewise Wealth
843-360-1737
brandonkunasek@kw.com.
Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.
1 Comments
Buying a Beazer Home? 10 Contract Traps You NEED to Know
Myrtle Beach New Construction
86 views
Buying a Beazer Homes new-construction home in Myrtle Beach, SC? Before you sign the purchase agreement or put down a deposit, understand the contract terms that could affect your money, financing, appraisal, closing date, and legal rights.
In this video, I break down 10 important provisions from an actual Beazer new-construction purchase agreement for a home in the Myrtle Beach, South Carolina market.
We cover the deposit structure, when a deposit can become non-refundable, the financing-denial deadline, appraisal risk, construction timelines, who controls the closing date, potential closing-delay charges, unfinished follow-up items, options and upgrades, HOA documents, and the contract's dispute-resolution provisions.
Some of the biggest issues discussed include:
• A $62,235 initial deposit in the specific contract reviewed
• Written lender-denial notice requirements, including a 3-day deadline
• What happens after Conditional Loan Approval
• What happens when the home appraises below the purchase price
• An estimated completion date versus contractual construction provisions
• At least 3 days' advance notice of closing
• Potential $200-per-day closing-delay damages plus a $100 document charge
• Why minor follow-up items may not give a buyer a basis to delay closing
• A 10% Options & Upgrades Deposit in the contract reviewed
• HOA/community-document obligations
• Mediation, binding AAA arbitration, and class-action limitations
The purpose of this video is to help buyers understand the types of provisions they should pay attention to when reviewing a new-construction contract. Contract terms can vary by transaction, community, state, and contract version.
This video is for general educational purposes and is not legal, tax, or financial advice. Have a qualified South Carolina real estate attorney review your specific contract and circumstances before making legal decisions.
00:00 10 Things You Need to Know Before Signing
02:15 #1 Protect Your Deposit
05:30 #2 The 3-Day Financing Deadline
07:56 #3 What Happens If the Home Appraises Low?
09:34 #4 The Builder Has Up to 2 Years
11:29 #5 Who Controls the Closing Date?
12:18 #6 Construction Changes & Completion
12:59 #7 If It’s Not in Writing, It’s Not Real
13:38 #8 Upgrades & Non-Refundable Deposits
14:42 #9 HOA Rules & Documents
16:09 #10 Mediation, Arbitration & Class Actions
16:56 The 3 Biggest Contract Risks
18:19 Final Walkthrough & Punch-List Issues
18:52 Should You Have an Attorney Review It?
Thinking About Buying a New Construction home in Myrtle Beach, SC or Its Surrounding Areas?
📲 Call/Text Direct: 843-360-1737
📧 Email: brandonkunasek@kw.com
📅 1-on-1 Discovery Zoom Call → https://scheduler.zoom.us/brandon-kun...
👉 VISIT OUR WEBSITE TO LEARN MORE & SEARCH LISTINGS: https://www.myrtlebeachnewconstructio...
https://substack.com/@brandonkunasek
Visit: https://www.brandonkunasek.com
Contact:
Brandon Kunasek, Broker
Keller Williams Innovate South
Shorewise Wealth
843-360-1737
brandonkunasek@kw.com.
Disclaimer: All information given is meant to be educational. I am only passing on historical information shared with me by owners, rental companies, and various publications. I am not guaranteeing these numbers, nor can I guarantee future rentals or appreciation. This information is not intended to replace your own research, or to provide legal, investment, or financial advice. Please consult an attorney for legal advice.