Monica:

Someone made your builder a higher offer. I'll bet he gets away with it.

First verify you have received the correct documents and your understanding of the meaning is correct.

We are in the process of a refinance and they send out new documents each time there is a change in terms or close date. The number of errors in the documents has been significant, so I assume they have a lot of inexperienced folks involved in the process. For example, the latest documents listed our rate lock deadline as 9 Feb 2021, but a call to the loan officer verified it was actually 25 Feb 2021. The answer he gave was "don't worry about it."

Bruce

Some contracts are cancelled instead of being edited. Are you sure there is not another contract with the new dates?

@maddielee they actually cancelled and the documentation is that it was mutual and they will refund my earnest money. Now the sales agent ask that I write a statement saying that it was due to the appraisal and this is a VA loan that was approved.

Bruce everything was accurate on the closing documents emailed from the title company confirming the closing.

Joseph I did ask the agent if there was a backup contract and they said no.

It sounds like the builder knows they can sell the house for more than what you're contracted to pay, and this delay in closing gives them an out, so they can find another buyer willing to pay more.

It’s happening a lot lately with the current market.

Best thing to do immediately is have your attorney send them a hand delivered letter disputing the cancellation, indicating cancellation was not was not mutual and you are ready/able to close 2/2. Then contractor will have to decide between sale or legal battle. If you are lucky the contractor will go for the sale.

Did the VA appraisal come in low? Requiring you to bring more cash to the table? Find problems? Struct loans like that are a pain for a builder. If the house’s selling price was for more than their appraisal could justify, the loan wouldn’t go through unless you have more cash.

Stop speculating and get with title & the seller Monday to see if it will get closed.

Seems you missed the closing. Details didn't matter to the builder.

The appraisal did was not below by a couple hundred. Which was no biggie.

@ Jeff. That’s the plan. Let’s pray Lennar feel the same.

The appraisal was a couple hundred less. No biggie. It wasn’t thousands and the closing was very low.

This ain't Lennar's first rodeo. They're sure they can get away with this. If you'd like to set some money on fire, fight them legally. Move on please.

In this market most buyers would consider coming out of pocket to make up the low appraisal.

Lennar is 'just' trying to get the MOST money they can.....period!!!!!!!! It's a track builder!!!!!!

Something seems off here. My contact has very few scenarios where I get my earnest money back for not going through with the sale, and all have to do with a major ball dropping by the builder (tract, but small and local, not national). I have to pay any difference in appraisal which is why I kept my upgrades to a minimum just to be safe. I’m getting a conventional loan. I’d scour that contract and call the lender as well. Is it one of Lennar’s preferred?

For the love of GOD Robin, it's TRACT!!!!!!

!!!!!!!! !!!!!!!-

Marie J it is not one of their preferred. Been on the phone trying to contact the Miami office

Monica Monica - Sorry you are going through this. Update?

Congratulations!

Corporate reads Houzz obviously.

Well done, Monica Monica.

Good for you for following up, escalating the issue and getting things done. Enjoy your new home!